The operating company behind one of Britain’s largest fundraising platforms, JustGiving, has distributed £24.5 million in dividends to its American parent organisation, according to newly released financial records.
Giving.com, the UK-based entity owned by Nasdaq-listed Blackbaud, demonstrated robust financial performance in 2023, achieving an operating profit of £29.4 million. The company’s revenue saw an impressive 11 per cent growth, reaching £58.8 million, whilst maintaining a substantial operating profit margin of 50.1 per cent.
Since Blackbaud’s acquisition of JustGiving in 2017, dividend payments have accumulated to nearly £100 million. The 2023 dividend payment represents a slight decrease from the previous year’s £31 million distribution. These payments are drawn from accumulated profits over multiple years rather than single-period earnings.
The platform’s financial success has been particularly notable since 2019 when it introduced a 15 per cent ‘voluntary tip’ system, which donors can opt out of during the payment process. This strategic move has resulted in operating profits more than tripling from £9.3 million.
Blackbaud’s chief executive, Michael Gianoni, received a comprehensive compensation package worth $9.6 million in 2023, comprising base salary, stock awards, and additional benefits. The platform maintains a tiered pricing structure, with smaller charities paying £15 monthly for a ‘growth plan’ subscription, while larger organisations are charged £39 monthly. A basic free tier remains available with reduced features.
The Fundraising Regulator’s chief executive, Gerald Oppenheim, emphasised the importance of transparency in online fundraising platforms, stating that all voluntary contributions must be clearly presented with equal prominence given to free donation options.
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