CharitEx to Acquire eContributor
The acquisition is scheduled to be completed in April. Peter Marino, president/CEO and founder of CharitEx, will head the combined company.
The acquisition will enhance the CharitEx product offerings, broaden its management team and expand its client base, Marino said.
The combined company will have more than 20 staff members offering a combination of financial and fundraising solutions to 450 clients. It will be headquartered in New York with regional offices in Washington and Philadelphia.
Since it was founded in January 1999, eContributor, Washington, has provided online methods of raising money, recruiting volunteers and increasing awareness about fundraising campaigns. Its clients have included nonprofits and advocacy groups such as AARP, the Million Mom March, B'nai B'rith, the Republican National Committee, the Democratic Senatorial Campaign Committee, the Bush-Cheney presidential campaign and the National Jewish Democratic Council.
CharitEx, New York, a 1-year-old company, provides solutions that streamline online and offline donations, improve cash management, add cash forecasting capabilities, reduce collection costs and enhance donor relationship management to ensure that more contributions reach their intended beneficiaries.
The combined company will operate under the CharitEx name in the nonprofit sector and under the eContributor name in the political sector.