The organisation shut down on 31 October, when two full-time and two part-time workers lost their jobs at the charity. The CVS was launched in 1997 and was based in Rickmansworth, Herfordshire. Eight volunteers also worked there.
Jeffrey Wilson, chair of the CVS, said: "The CVS and the Volunteer Centre in Three Rivers have closed because of the loss of our main funding."
Wilson said the charity could find funding for projects, but not enough to keep it running.
The CVS’s accounts show its income for 2011/12 was £147,164 and it spent £168,858. Its income had fallen by 15 per cent from £174,676 in 2009.
The charity received funding from the Big Lottery Fund’s Building and Sustaining Local Infrastructure Services (Basis) programme since 2008. These funding strands were due to run out in December.
It received a total of £320,705 in Basis funding between 2008 and 2011.
Wilson said a new volunteer centre in Watford, which would also cover the Three Rivers area and might start in the new year if funding is obtained.
"Despite reapplying for what would have been a further year’s funding that would have allowed us to restructure, we were unsuccessful," said Wilson. "We decided to close, potentially leaving a small surplus. We have yet to decide what to do with this. The greatest loss to the community will be if the new volunteer centre does not get off the ground."