BENEFITING: CHESAPEAKE CENTER FOR YOUTH DEVELOPMENT INC
IRS challenged payroll tax payments and line of credit tapped to counter grant funding reductions abruptly over last year. Trying to reach a place where a lien is satisfied and bank gets its LOC repaid. Org's Board finds no internal ability to satisfy lien. Center has been providing services for 40 years to disadvantaged youth in Baltimore Cityy and Anne Arundel Cos. and is in strategic planning for future in next months. Economic slowdown had really hurt contributions from private sources as well.