The Prentice Centre has confirmed it will not re-open to the public and will close permanently in October.
The move comes weeks after the council agreed an emergency funding package of £50,000.
However, it is understood that the project has yet to be told how to access that fund or what the timescale for receiving this grant is.
Services at the popular community centre have been suspended since the start of this month and yesterday the management committee confirmed it would close.
In a letter posted online they said: “It has been reported in the press that the City of Edinburgh Council were considering providing us with a one off grant of £50,000, however with no confirmation of the process to secure this funding nor the timescales involved, the Trust has been left with no alternative but to proceed with the winding up of the Trust.
“This is to ensure the orderly transfer of the premises to another charitable organisation and to meet our responsibilities to our tenants, staff and the community.
“The Management Committee would like to thank our loyal members for their support over the years and assure them that we have done everything within our power to avoid this situation.”
The Prentice Centre was one of three new community centres built across North Edinburgh in the late 1990s thanks to European Poverty and Urban Aid funding through local agency The Pilton Partnership.
It was named after long standing local activist Walter Prentice, housed the local Community Education team and has been the base for a wide range of local groups with activities for local residents of all ages since it opened.