The charity, which enables young people to dispense grants for youth projects, will be placed entirely in the hands of young people from April next year.
All the charity's decisions will be made by a board of 12 trustees aged 18 to 30, who will meet quarterly.
An advisory board of 13- to 25-year-olds will support the trustees.
Lynne Evans, chair of the trustees, said: "We've had a leading role, without actually leading it."
The charity is currently run by representatives from five youth organisations.
Its Community Fund grant runs out in March.
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