The Middle Peninsula Business Development Partnership board of directors decided Feb. 14 that the agency will cease operations by the end of June because of financial difficulties, said Candie Newman MPBDP’s program director.
A fund drive, launched last spring, raised only about $5,000, and the organization does not have enough money to remain in operation "unless a champion comes along" and makes a big donation, Newman said.
A federal grant was received in 2010, but a local match was required and services had to be provided before the grant could actually benefit the agency.
Originally, MPBDP officials thought they might have to close down in late 2010, but enough funds were scraped together for the program to limp along for a few more months. But there’s no prospect for adequate funds to cover the coming year’s $100,000 budget, Newman said.