e-philanthropy deal – Client base grows

CharitEx, a maker of Web-based software to help charities manage cash and donor relationships, has agreed to buy eContributor.com, a provider of online fundraising products for nonprofit and advocacy groups.

The deal, for undisclosed cash and stock, will be completed in April.

The combined company will have more than 20 staff members and 450 clients, and will be based in New York, with offices in Philadelphia and Washington, D.C.

Peter Martin, president and CEO of New York-based CharitEx, will head the combined firm, while Trey Richardson, CEO of Virginia-based eContributor, will head the firm’s political division.

eContributor, founded in January 1999, has more than 430 clients,  including AARP, B’nai B’rith, Republican National Committee, Democratic Senatorial Campaign Committee and Bush-Cheney Presidential Campaign.

CharitEx was founded in April 2000 by Martino, former president and CEO of XRT, the world’s biggest provider of corporate cash-management software systems.

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