SASKATOON -- A non-profit organization that teaches students financial literacy has cut its operations in Saskatchewan.

Junior Achievement (JA) Canada said the shutdown follows a major loss in funding.

“JA Saskatchewan had lost a key substantial funding source over a year ago and has been working hard to attract new funds to make up for the loss,” Scott Hillier, president and CEO of JA Canada, wrote in an email to CTV News.

Hillier said new funding didn’t come through, so the “difficult decision” was made to suspend operations and lay off all staff.

JA Canada has taken leadership over the Saskatchewan branch, with hopes to find new funding and resume programming in the province.

Phone calls to the Saskatchewan branch of Junior Achievement are being greeted with a message that says the non-profit is experiencing difficulties and is challenged in delivering programming.

In a Facebook post Wednesday, CEO and president Darren Hill announced he is no longer part of the organization, which focuses on teaching youth entrepreneurial and leadership skills

“With a still heavy heart, I’m announcing my departure from Junior Achievement of Saskatchewan,” Hill said.

Hill, who also serves as a city councillor, said the post will be his only public comment on the matter.

He said he was with the organization for more than 12 years.