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Default IF statement returns false when statment is True

I have the following formula:

=IF(AND(S95<"",TODAY()<S95),"Investigating PFM",IF(AND(S95<"",TODAY()S95,T95=""),TODAY()-S95&" "&""&"Days Past Due",IF(AND(S95="",T95<""),"Investigation Report Received",IF(AND(S95<"",T95<""),"Investigation Report Received",IF(L95="District Did Not Investigate","PFM Withdrawn",IF(AND(S95="",TODAY()Q95),TODAY()-Q95&" "&""&"Days Past Due",IF(AND(S95="",TODAY()<Q95),"Investigating PFM")))))))

This statement return false when in reality it is true. Why?
IF(L95="District Did Not Investigate","PFM Withdrawn"
 
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