The organisation is bracing itself for independence and charitable status in January. It also needs funding when a 1m three-year Community Fund grant expires in 12 months.
YouthBank development director Mary Mills said: "It's a crucial time. We can't afford a gap in funding so we need to get something sorted within six months."
Mills is applying to the Community Fund for a second grant, as well as Comic Relief and the Football Foundation.
YouthBank began as seven pilot projects in 1999. There are now 25 YouthBanks across the UK and another 40 planned.
To date a consortium including the British Youth Council, The National Youth Agency and The Prince's Trust has managed YouthBank. It will now relinquish control to a 12-strong board of trustees aged 13 to 25.
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