input: Article: It follows a government investigation that has "provided strong evidence of financial irregularities", according to Communities Secretary Carl Sargeant.
A 35-year-old woman was arrested last year on suspicion of theft and is on police bail following a complaint by NSA Afan.
It is not clear if the two investigations are related.
NSA Afan, based in Sandfields, was receiving Welsh Government funding through the Communities First and Communities for Work schemes.
Grants under both have been terminated.  Funding had already been suspended in December.
"The prime focus of the Welsh Government's investigation has been the proper stewardship of public funds and the way that public funding has been spent and accounted for by NSA Afan," Mr Sargeant said.
"Investigations have provided strong evidence of financial irregularities.
"Furthermore, investigations have raised serious concerns about the effectiveness of the organisation's governance and control framework.
"This evidence calls into question NSA Afan's ability to manage and safeguard public funds."
Mr Sargeant added in his statement that "officials are continuing to discuss this matter with the police".
A spokeswoman for South Wales Police said the force "is not investigating NSA Afan in Port Talbot in relation to fraud".
She added: "We can confirm that South Wales Police has arrested a 35-year-old woman from the Port Talbot area on suspicion of theft on 11 August 2016 following a complaint received from NSA Afan.
"This person is currently on police bail while the police investigation continues."
Bethan Jenkins, Plaid Cymru AM for South Wales West, said the whole matter should be handed over to the Auditor General for Wales "to investigate fully and independently".
"NSA Afan has been the subject of a number of Welsh Government audits, and has always been given a clean bill of health," she said.
"What worries me is that the present inquiry effectively amounts to the Welsh Government investigating itself."

Summarize.
output: Port Talbot community regeneration charity NSA Afan has had its funding terminated by the Welsh Government.
Article: The 35-year-old finished with 4-35 on his home ground, as South Africa finished day two on 220-9, still trailing the hosts by 142 runs.
The Lancashire seamer needed only three deliveries to take his first wicket at the James Anderson End.
"It's odd, a bit surreal, difficult to describe but it's a huge honour," he told Test Match Special.
"There is a lot of mickey taking from the lads," he added.
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Anderson is yet to take five wickets in an innings for England at Old Trafford, but may get a chance on day three, despite only one South Africa wicket remaining.
"I've only played six Tests at Old Trafford, this is my seventh, and you can't get five on every ground," he said.
"It would be great, but it will be tough because Stuart Broad has the ball in his hand.
"Whoever gets it, I don't care. We just want to get a good lead."
Anderson also contributed with the bat, scoring only four runs but sharing a 50-run last wicket partnership with Jonny Bairstow.
"On the back of Bairstow's innings, we had momentum and you could feel that in the field when we came out to bowl. Everyone was buzzing around," he said.
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Bairstow was dismissed by an lbw decision on 99, failing with a review to reverse the umpire's decision.
"I was pretty annoyed but at the same time, if someone had told me I'd get 99 after starting the day on 33, then I would have taken it," said 27-year-old Bairstow.
Despite falling agonisingly short of his fourth Test century, he did take his 100th Test dismissal as wicketkeeper, catching South Africa number three Hashim Amla off the bowling of Toby Roland-Jones.
"It's really special, two years ago I would said there was no chance of me taking 100 Test dismissals," he said.
"It's the hard work that I've put in over the last couple of years."
Amla meanwhile believes South Africa are still in the match, while praising Anderson's bowling.
"The Test match hasn't gone at all, anything can happen on Sunday," said the South Africa batsman.
"You have to give credit to the bowlers, that spell Jimmy had, he bowled pretty well and asked the right questions."
++++++++++
Summarize: England's James Anderson says it felt "surreal" to be bowling from the end bearing his name at Old Trafford.
Question:
Article:Jermaine McGillvary put Giants ahead, before Wildcats opened up an 18-6 lead through Tom Johnstone, Michael Sio and Reece Lyne.
Two Jake Connor tries and a Danny Brough penalty tied the scores before Max Jowitt put Wakefield back in front.
Aaron Murphy replied but Johnstone and Nick Scruton went over to hand Wildcats head coach Chris Chester his first win.
Chester, who was appointed following Brian Smith's resignation, took charge of his first home game with his side having lost 22-4 away at Hull FC last week.
But it was Huddersfield who began the brighter as Leroy Cudjoe found McGillvary on the wing and Brough converted.
Wildcats produced a stirring response as they crossed the whitewash three times only to be pegged back.
Jowitt's superb sidestep gave Wakefield the advantage as the game became scrappy and both Huddersfield's Larne Patrick and the hosts' Mickael Simon were sent to the sin-bin.
Giants replied through Murphy, but Brough missed the conversion to draw his side level and Johnstone and Scruton claimed the victory for the Wildcats.
The defeat means Huddersfield, who reached the Super League semi-finals last season, sit bottom of the table having recorded just one win all season.
Wakefield coach Chris Chester:
"Over the 80 minutes I thought we were the better side - we set the tone early doors, played some decent football, threw the ball around and defended our own line well.
"They have some quality players and we knew it would be a grind and it wasn't until the last six or seven minutes that the game finally went away from Huddersfield.
"Tom Johnstone (who scored two tries) looked good and young Max Jowitt had a fantastic game.
"There was bags of effort from everyone and collectively we worked hard for each other. From one to 17 the attitude was first class."
Huddersfield head coach Paul Anderson:
"We're in hole and we are where we are for a reason because we just aren't good enough at the moment.
"The one thing we must do is stick together and work hard because ultimately it's effort that gets you through and gets wins.
"I'm very disappointed - it's a tough one to take. It's only so long you can keep saying when we get this back and that back... the reality is we've got to stop talking and start doing.
"We'll be in (training) tomorrow because we have some questions to ask."
Wakefield: Jowitt, Lyne, Arundel, Gibson, Johnstone, Miller, Finn, Scruton, Moore, England, Kirkmond, Ashurst, Sio.
Replacements: Simon, Annakin, Howarth, Molloy.
Huddersfield: Simpson, McGillvary, Cudjoe, Connor, Murphy, Brough, Brierley, Huby, Wood, Rapira, Ta'ai, Lawrence, Hinchcliffe.
Replacements: Patrick, Johnson, Leeming, Mason.

Summarize the main points of that article.
Answer:

Wakefield recorded their second victory of the season to leave Huddersfield bottom of the Super League table.