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News Briefs
Accountability top nonprofit concern
Blackbaud Inc., a provider of software and related services designed specifically for nonprofit organizations, recently released the second wave of results from its second Annual State of the Nonprofit Industry survey, which focuses on the issues and challenges facing the nonprofit sector as a whole.
At a time when the Senate Finance Committee is considering potential legislation to further regulate the charitable sector, organizations confirm that accountability is the most pressing issue facing the nonprofit industry.
Forty-five percent of those surveyed say accountability to donors and regulatory bodies ranks in the top three industry concerns. Sixty-four percent of nonprofits surveyed say recruiting and retaining donors remains their biggest organizational challenge.
Beach Company to acquire acreage in Columbia
The Beach Company received unanimous approval from the Columbia City Council to proceed with the purchase of CanalSide, a 25-acre downtown Columbia parcel with frontage on the Congaree River and Historic Columbia Canal. The closing is expected to take place this Fall.
The initial master plan will accommodate up to 750 total units consisting of single family attached, detached and multi-family residential options. CanalSide will additionally provide a limited amount of complimentary retail and commercial space. Integral to the project is a central park area and open space adjacent to the City’s Esplanade and Greenway.
“We are excited about this significant first step in the development process of CanalSide,” says Dan Doyle, vice president of development and acquisitions for The Beach Company. “This is one of the most attractive development parcels in the area, with impressive views of the skyline and river. Our goal is to create a true downtown neighborhood, one that will provide an urban lifestyle and a variety of housing options.”
The Beach Company has been serving the Charleston and Southeast Regions for the past 60 years.
Zucker acquires more shares of Galvanic Applied Sciences Inc.
Jerry Zucker announced that he has purchased 20,000 common shares of Galvanic Applied Sciences Inc. through the facilities of the TSX Venture Exchange. The 20,000 common shares purchased by Zucker represent approximately 0.12% of the issued and outstanding common shares of Galvanic.
Prior to the transaction, Zucker owned or exercised control over approximately 17.995% of the issued and outstanding common shares of Galvanic.
As a result of the transaction, Zucker owns 2,799,300 common shares, or approximately 18.12% of the issued and outstanding common shares of Galvanic. The common shares of Galvanic were acquired for investment purposes.
Local law firm announces opening of new office
Buist, Byars, Pearce & Taylor LLC, a regional real estate law firm, announced the addition of a North Charleston office, their third new office in more than a year and their fifth office in the Lowcountry.
The 2,500-square-foot office, scheduled to open in late September, is located adjacent to Trident Medical Center near the intersection of I-26 and US-78 and was chosen due to its close proximity to the rapidly developing areas of Goose Creek, Ladson and Summerville.
The office will primarily manage residential real estate transactions for their newest client, Beazer Homes. Beazer Homes, based in Atlanta, is one of the country’s 10 largest homebuilders and currently builds in more than 40 markets across the U.S. They recently named Buist, Byars, Pearce & Taylor as the preferred legal firm to manage their Charleston area residential real estate transactions
Initially, one attorney, three paralegals and a receptionist will be based in the office, as well as the firm’s paralegal manager and information technology manger, who currently work in the main office in Mount Pleasant.
“Everyone is talking about the huge real-estate boom nationwide, and the Charleston area is certainly no exception,” says Custis Byars, managing partner of Buist, Byars, Pearce & Taylor. “Our firm’s rapid growth is further proof that this market continues to expand, and we are proud that we can respond to our client’s needs by adding yet another location in the Lowcountry.”
“Everyone in the industry—donors, regulatory bodies and nonprofits themselves—agree that accountability is a growing and pressing issue facing the industry as a whole,” says Robert J. Sywolski, chief executive officer of
Blackbaud Inc. “But the fact is, when nonprofits look in the mirror, they see a very familiar, age-old concern: building their donor base. Organizations need to continue to focus their efforts on maintaining the relationships they need to support their missions.”
Thirty-one percent of survey respondents indicated that they have seen an increase from donors asking to be updated on how their contributions were spent.
As they face growing demands from supporters, nonprofits are taking their own steps and have implemented the following practices to achieve greater accountability, including:
• Communicate to donors on how contributions were spent—77%
• Secured audited financial statements—95%
• Formed audit committees—70%
Although the survey results show a deep concern about accountability within the sector, almost 98% of those surveyed are confident that their donors trust the organization will spend contributions appropriately.
Intellectual Capitol opens Charleston office
Intellectual Capitol, a provider of information technology placement and staffing services, has opened an office in Charleston and appointed managing partner Joe Keith to serve as the director for the new office.
“Joe is an integral part of Intellectual Capitol’s continued expansion throughout South Carolina and the Southeast region,” says Barry Newkirk, vice president of Intellectual Capitol. “We selected Charleston for our office expansion because of the area’s large and growing knowledge economy, and this office will serve as a regional hub as we branch out to serve other markets in the Southeast.”
The Charleston office will open with four employees, and the company expects its staff to grow significantly during the coming months.
For more information, visit www.icapsolutions.net.
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