BEST ADVICE Bob Orr, Community Association Management Services
PAGE 4 VOLUME 26 NUMBER 22 ■ CHARLESTONBUSINESS.COM
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OCTOBER 19 - NOVEMBER 1, 2020 ■ $2.25
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Nonprofits need $61M to stay solvent By Teri Errico Griffis
Under Construction Projects, companies and updates of developments across the region. Pages 35-47
Leaning local
Executive director of buy-local advocacy organization stepping down. Page 8
Seismic ruling
I
tgriffis@scbiznews.com
t’s hard to envision a state that in mere months could be without organizations to feed the hungry, teach children to read and showcase the arts — but the reality isn’t far-fetched. A statewide survey shows that 63% of non-
profits have six months or less of viability without additional funding. Five percent are already out of money. The remaining 29% indicated they can operate up to three more months. Funded by S.C. Grantmakers Network, the survey assessed the financial health of the state’s nonprofits from Sept. 1-8. Rapid turnaround was necessary to provide accu-
It’s North Charleston
Boeing Co. selects North Charleston to consolidate the company’s final assembly operations for the 787 Dreamliner after months of speculation. Page 6
rate data to state lawmakers as they decided where remaining coronavirus relief funds will be allocated. The survey was distributed to 2,954 charitable organizations through United Way offices, community foundations, philanthropic foundations and Together SC. See NONPROFITS, Page 30
Cyber experts offer warnings on remote work By Barry Waldman
A
Contributing Writer
ccording to the New York City software company Varonis, 41% of U.S. companies have more than 1,000 files full of sensitive data accessible to anyone on the internet. Some 20% of all files, including those containing financial and health records, are completely unprotected from bad actors anywhere in the world. Cybercrime Magazine predicted that combating cybercrime would cost $6 trillion worldwide by 2021 — and that was before the coronavirus sent many employees home to work remotely over Wi-Fi. Giant companies like Yahoo and Equifax have been hacked in recent years. In May, Charleston-based cloud services provider Blackbaud was hit with a ransomware attack. Although the company partly thwarted the infiltration, the perpetrators did breach the system and copy sensitive company data affecting thousands of nonprofits and educational institutions. Blackbaud was forced to pay a ransom to have the data destroyed and now faces lawsuits from customers.
Ruling has long-term implications for seismic testing off S.C. coast. Page 7
Tract moving forward
Watson Hill development plans on Ashley River Road back on the map. Page 10
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 In Focus: Architecture, engineering and Construction................35 Charleston Under Construction........................35 List: General Contractors.... 49 At Work...............................23 People in the News...............23 Business Digest....................23 Viewpoint............................29
For more information, visit: scmanufacturingconference
See CYBERSECURITY, Page 9
PREVIEW GUIDE
Preview S.C. Manufacturing Conference & Expo
Your guide to this year’s online, free manufacturing conference and expo with exhibitors, keynotes and more. INSIDE: Pages 11-26
2020 | SOUTH CAROLINA
MANUFACTURING