02/06/2019

Foundation Center, GuideStar Merge, Creating Mega Data Portal

The combined organizations will have a worldwide reach

The Foundation Center and GuideStar, the two largest data and information nonprofit organizations in the United States, are merging in a deal that took about two years to consummate but was at least a decade in the making. The organizations will be rebranded as Candid. (with a period).

The two boards signed an agreement on Jan. 14 and the deal closed on Feb. 1. The combined organizations will have a worldwide reach with data on foundations, individual nonprofits and what information is searched by nonprofit executives and the general public.

The organizations’ combined revenue in fiscal year 2017 was $36.5 million with the projection to be roughly $38 million for fiscal year 2019. The combined gain for 2017 was $460,117 with GuideStar generating positive cash of $718,854 and Foundation Center showing a loss of $258,737. The Foundation Center is the larger of the two organizations, with $24.4 million in revenue for fiscal 2017 and GuideStar generating $12.08 million.

Please select this link to read the complete article from The NonProfit Times.