MyGeneration, the charity set up by the government’s former big society ambassador Shaun Bailey, has closed because of funding problems.
The charity, which was established in May 2006 to support young people in deprived communities and had an income of £292,000 in 2009/10, was removed from the register of charities on Monday.
A spokeswoman for the Charity Commission said in a statement: "The charity’s trustees cited funding problems as the reason for the charity’s dissolution".
Bailey, who stood unsuccessfully as a Conservative Party candidate at the 2010 general election, was appointed as an ambassador for the big society agenda by Prime Minister David Cameron last year.
Bailey told Third Sector he stood down from the position in October and had been appointed as a special adviser to the Prime Minister's office, where he was advising the government on youth, crime and welfare issues. He said he had been made redundant from MyGeneration in May or June 2011 when a restructure took place, but he had continued to volunteer for the charity.
Bailey said a job club run by the charity, which had 420 members, would close down but all of the charity's other services would carry on. Some would be run by Only Connect, a charity running crime-prevention programmes, and others would be run by Kids Company, he said.
He said one of the charity's six staff would be transferred to Kids Company and the others, who were all part-time and sessional, would "go their different ways".
Bailey said MyGeneration had been funded by foundations and by fundraising. "The job club cost a fortune to run, and continuing at the pace we were going at was proving difficult," he said.
"We saw that in this tough funding environment it was hard to sustain that level of services, so we sought a partner to continue that work. I think it was an appropriate response to a changing climate."