New opportunities to serve and support the IT channel and more impactful charitable giving will be made possible by the pending sale of the CompTIA Association’s certification business to a private equity partnership announced this week.
“The association itself is not being sold,” says 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,” adds 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.”
