gb.tc announces hiatus, Greg Cangialosi takes over as chair

Big news from gb.tc, otherwise known as the Greater Baltimore Technology Council: at the end of this month, the council will enter an official hiatus, let go of its three-person staff and be restructured under new leadership. Betamore cofounder Greg Cangialosi will replace Damian Rintelmann as chair, according to an announcement made this afternoon.
As part of the shakeup, gb.tc will begin forming a partnership with the Federal Hill incubator Betamore as it re-organizes, according to a blog post written by Rintelmann.
The organization cited financial health as the reason for the change in course:

The GBTC, like many similar organizations, has struggled with developing a successful, long-term funding model, as the overall technology community has gravitated towards finding ways to self-organize.
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However, given the status of the organization’s financial health, the board of directors of the GBTC decided to approve a reorganization and restructuring of the organization’s current operations. As of February 28th, the GBTC is going to focus on what is next in promoting and supporting the growing technology community here in Baltimore. Unfortunately, that also means that as of the 28th, the existing staff who have done such a good job in cultivating the technology community, will be ending their time with the organization. At that time, we will be going on a hiatus to focus on the pivot. We are currently working on plans to continue some of our events, and will be working with our shareholders to deliver on current activities and commitments.