Blackbaud (copy) (copy)

Daniel Island's Blackbaud set up a "command center" in 2016 at the Nasdaq stock exchange as part of the annual #GivingTuesday philanthropy promotion. This year, Blackbaud executives rang the closing bell at the Nasdaq MarketSite. File/Provided

Blackbaud Inc. processed $62.6 million on Tuesday's global day of giving, up nearly $2 million from last year and setting a new record, the Daniel Island company said. 

Blackbaud, one of only a handful of publicly traded technology companies based in South Carolina, sells software that helps to generate financial gifts to charitable organizations. It also is a founder of Giving Tuesday, which was started in 2012, and the company's technology processes many of the donations.

The numbers show average gift amounts were up — to $147 from $134 last year — and more "social good organizations" received donations this year, Blackbaud said. Overall, online donations have increased by 518 percent since Giving Tuesday's inception.

Steve MacLaughlin, vice president of data and analytics, said in a statement on Wednesday that the company was "delighted to see the level of generosity exhibited yesterday."

While the dollar amount of donations has continued to increase, the growth rate of Giving Tuesday activity slowed this year, according to a report from Baird Equity Research analyst Rob Oliver, who tracks Blackbaud's stock.

Since 2012, donations increased by 90 percent after the first year. Growth since then has steadily declined annually to a crawl this year, with just 3 percent growth.

Oliver also estimated the processing fees Blackbaud earned during Giving Tuesday amounted to less than 1 percent of its annual revenue, "by no means a 'make or break' day."

Still, the holiday season remains important for the company: about 20 percent of giving during the calendar year happens during December.

Sign up for our new business newsletter

We're starting a weekly newsletter about the business stories that are shaping Charleston and South Carolina. Get ahead with us - it's free.

Separately, Facebook said it also processed a record amount of donations. More than $125 million was raised, the largest ever sum on a single day for the social media giant. Its total on Giving Tuesday last year was $45 million.

The gains come following concerns that donations would suffer this year because of changes in federal tax law adopted in late 2017. 

SC nonprofits hoping Giving Tuesday donations won't drop in the wake of new tax law

Reach Mary Katherine Wildeman at 843-937-5594. Follow her on Twitter @mkwildeman.