The charity’s workforce fell from 119 to 46 over the same period, the accounts say.
The principal reason for the change was a reduction in the charity’s funding from the Office for Civil Society, which in the previous year provided four separate grants worth about £47.65m.
The volunteering charity was set up with £117m of funding in 2006 under the Labour government to meet the recommendations of the Russell Commission, set up to encourage more young people to volunteer.
But under the coalition administration, OCS funding fell to just £3.05m a year, of which just £1.25m was for core costs.
Jenni Young, the charity’s chief marketing officer, said that her organisation had always known its funding was only for a finite period, and that it had always been working to a deadline.
"We were sad when we had to restructure," she said. "Our thoughts go out to the voluntary sector organisations that we’ve funded and the young people who our grants were created for.
"But we’ve now gone through that transition. We’re delighted that the government had considered us a partner and we’ve continued to receive funding.
"We’re working on the National Citizen Service with Serco, and have created some really exciting programmes."