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Madhushree Ghosh launched a supper club to help build community by sharing food — and ideas. Subscribe to continue reading this article. Already subscribed? To login in, click here.CHARLESTON, S.C. , Dec. 12, 2024 /PRNewswire/ -- Blackbaud (NASDAQ: BLKB), the leading provider of software for powering social impact, today filed a Form 8-K with the United States Securities and Exchange Commission (SEC) stating that the Company concluded a material pre-tax noncash impairment charge, which may be up to approximately $415 million , is required for its EVERFI asset group and will be recorded during the fourth quarter of 2024. As previously disclosed, due to EVERFI performing below expectations, Blackbaud is considering a range of alternatives for EVERFI, one of which includes a potential divestiture of the business. The impairment charge was determined to be necessary as part of this process. "To comply with generally accepted accounting principles, we're planning to record this noncash charge in the fourth quarter," said Mike Gianoni , president, CEO and vice chairman of the board of directors. "We want to emphasize that EVERFI remains well positioned to support its customers and continue helping companies dedicated to social impact reach communities through custom education and workplace solutions for today's key issues. In addition, Blackbaud's core business remains strong, and we are committed to helping customers around the world use technology to drive meaningful social impact. As we determine our long-term strategic approach to the EVERFI business, we will continue to provide updates." Additional details can be found in Blackbaud's Form 8-K filed today with the SEC. About Blackbaud Blackbaud (NASDAQ: BLKB) is the leading software provider exclusively dedicated to powering social impact. Serving the nonprofit and education sectors, companies committed to social responsibility and individual change makers, Blackbaud's essential software is built to accelerate impact in fundraising, nonprofit financial management, digital giving, grantmaking, corporate social responsibility and education management. With millions of users and over $100 billion raised, granted or managed through Blackbaud platforms every year, Blackbaud's solutions are unleashing the potential of the people and organizations who change the world. Blackbaud has been named to Newsweek's list of America's Most Responsible Companies, Quartz's list of Best Companies for Remote Workers, and Forbes' list of America's Best Employers. A remote-first company, Blackbaud has operations in the United States , Australia , Canada , Costa Rica , India and the United Kingdom , supporting users in 100+ countries. Learn more at www.blackbaud.com or follow us on X/Twitter , LinkedIn , Instagram and Facebook . Media Inquiries media@blackbaud.com Forward-looking Statements Except for historical information, all of the statements, expectations and assumptions contained in this Current Report on Form 8-K are forward- looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's estimates regarding the impairment charge related to the EVERFI assets. These statements involve a number of risks and uncertainties. Although we attempt to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the risk factors set forth from time to time in our filings with the Securities and Exchange Commission (the "SEC"), copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. We assume no obligation and do not intend to update these forward- looking statements, except as required by law. View original content to download multimedia: https://www.prnewswire.com/news-releases/blackbaud-announces-impairment-charge-related-to-everfi-assets-302330791.html SOURCE Blackbaud
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Lebanon Ceasefire Offers Fragile Relief Amid Deepening Regional TensionsWisconsin faces its first losing season in 23 years and the end of a bowl streak when the Badgers host arch-rival Minnesota on Friday in the annual Big Ten battle for Paul Bunyan's Axe. Minnesota (6-5, 4-4) lost to No. 4 Penn State 26-25. Wisconsin (5-6, 3-5 Big Ten) lost its fourth straight, 44-25, at Nebraska in a game that was not as close as the score. "Well 1890 is the first time we played this football team coming up and this is what it's all about," Minnesota coach P.J. Fleck said of the rivalry. "And you wouldn't want to have it any other way, being able to end the season with one of your biggest rivals. I know our guys will be ready to go, ready to play." Wisconsin has 22 consecutive winning seasons since going 5-7 under Barry Alvarez in 2001, the longest active streak among Power 4 teams. The Badgers also have played in a bowl game in each of the last 22 seasons, the longest active streak in the Big Ten and third-longest in FBS. Wisconsin coach Luke Fickell is more concerned with the rivalry game than the winning season and bowl streaks. "I'm not downplaying it, I'm not saying it's not important, I'm not saying it's another thing that's on our plate," Fickell said Monday. "But when it gets down to this last week, it's about one thing, it's about the rivalry. It's about preparing to play in the most important game of the year." The Gophers have dropped their last two games after winning four in a row. Minnesota averages 26.6 points per game, while allowing 18.5, 15th-best in the country. Max Brosmer has completed 67 percent of his passes for 221 per game with 15 touchdowns and five interceptions. Daniel Jackson is the top target with 69 catches for 802 yards and three scores, and Darius Taylor is the top rusher with 730 yards at 4.8 per carry with nine touchdowns. One week after leading Oregon after three quarters, the Wisconsin defense was shredded for 473 yards and five touchdowns by Nebraska. Braedyn Locke, who took over at quarterback when Tyler Van Dyke suffered an early season-ending knee injury, has thrown at least one interception in eight consecutive games. Locke has completed 56.4 percent of his passes for 180.6 yards per game, with 12 touchdowns and 10 picks. Tawee Walker is the leading rusher with 828 yards at 4.7 per carry with 10 touchdowns. He has failed to reach 60 yards in three of the last four games. Former Wisconsin and NFL standout JJ Watt posted on social media his assessment - and frustration - with the Badgers after the Nebraska game. "Losing happens, it's part of the game. Hearing announcers talk about how much tougher and more physical Nebraska & Iowa are while getting blown out ... that's the issue," Watt wrote on X. "We are Wisconsin. Physicality, running game, great O-Line and great defense. That is our identity." Wisconsin defeated the Gophers 28-14 last after Minnesota had won the previous two meetings. The Badgers have won 7 of the last 10 and lead the storied series 63-62-8. --Field Level Media
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