SCO Family of Services, a nonprofit agency based on Long Island, started the year with a $25 million credit line at its bank, which it planned to use to pay its bills while awaiting government reimbursements and donations.<\/p>\n
Now, after its bank has cut its credit line twice and withdrawn a promise to support a critical bond offering, the organization is worried about whether it can pay its employees this month.<\/p>\n
\u201cI spend a good part of my day every day just trying to manage cash flow,\u201d\u009d said Johanna Richman, chief financial officer at SCO, which provides services to children with developmental disabilities.<\/p>\n
SCO is one of hundreds of charities caught in the credit crunch as skittish banks reduce their lines of credit or cut them off entirely at a time when the need for their services is climbing sharply, nonprofit leaders say.<\/p>\n