New opportunities to serve and support the IT channel and more impactful charitable giving will be made possible by the pending sale of CompTIA’s certification business to a private equity partnership announced earlier this week.
“The association itself is not being sold,” said Todd Thibodeaux, president and CEO, CompTIA. “Only the CompTIA certification and training business, which has grown substantially in the last 10 years, is part of the transaction. The investment income on the endowment created by the sale proceeds is sufficient to cover the association's operating costs, increased charitable giving, as well as be an engine of growth, for the association in the future.”
The 501(c)(6) membership-based nonprofit association will continue to serve the IT channel and be governed by the same volunteer Board of Directors. The association’s annual budget, previously supported by certification and training sales revenues, will instead be derived from the investment income generated each year by a significant endowment from the sale proceeds. This funding model is similar to how many universities and non-profits operate.
“A sale now accomplishes three important goals,” said Scott Barlow, vice chair of the CompTIA Board of Directors. “First, it provides financial solvency and stability for the foreseeable future. Second, it allows the association to substantially increase its charitable giving. Third, it will create a singular focus for the association to serve its members and the industry in a way it hasn’t had in the last 30 years while still retaining all the great benefits people have come to expect.”
The association will continue to support the IT channel and provide impactful benefits to help individuals and companies unlock their full potential. This includes communities around the world; cybersecurity resources, such as the Information Sharing and Analysis Organization (ISAO) and Cybersecurity Trustmark; market research; events; and industry education and training. As philanthropy has become a larger and larger part of the association’s mission, charitable giving will dramatically expand.
"This is an exciting new chapter for the association,” said John Tippett, chief operating officer, Cytracom, former Member of the Year and CompTIA Community member. “The opportunities such a forum creates have been invaluable to me and others passionate about the industry. Knowing resources and programs like the Cybersecurity Trustmark, ISAO, and others we rely on will remain with the association brings renewed energy to our community, enabling even greater collective impact."
“With the establishment of the endowment, charitable giving is set to rise significantly, from approximately $5 million to over $20 million or more annually, " said Q. Nguyen, vice chair of the CompTIA Board of Directors. "These funds will directly benefit impactful organizations dedicated to advancing technology adoption, creating pathways to careers in technology, and using technology to educate and enrich communities. We’re thrilled to make an even greater impact.”
