Police are investigating after tens of thousands of pounds went missing from a charity's account leaving it facing "severe" financial difficulties.
A member of staff has been suspended by Disability Sports Humber, which supports hundreds of disabled athletes doing sporting activities every week.
Two events, including the Hull10K, have been directly affected and trustees say they are " reviewing the future of the charity as a result of financial concerns."
The charity had faced pulling the plug on a celebration night for the sportsmen and women at the Double Tree by Hilton in Ferensway, in Hull.
However the hotel stepped in and the awards, including special guest, Hull-born judoka Chris Skelley, who competed for Great Britain at the 2016 Rio Paralympics, will go ahead as planned on June 1.
A statement said: "After taking legal advice, the trustees have suspended one member of staff pending the outcome of a police investigation which is now under way.
"We are most grateful to the hotel for sponsoring the awards and enabling the event to go ahead, ensuring that the athletes can celebrate their achievements with their families and friends.
"Also, there are a number of people signed up to run the Hull 10k under the charity name on Sunday 10 June.
"We are making efforts now to protect runners’ places in the event and to ensure that the funds raised from their endeavours will go to another deserving, local cause."
Adrian King, Chair of the board of trustees, said the charity discovered during April that money was missing.
Trustees have been working since then to investigate the situation and to safeguard the charity’s future.
Mr King said: “The financial investigations, which involve our legal and financial advisers and Humberside Police, will continue.
“We are unable to comment further on that matter at this stage, but we can express our thanks to everyone at the DoubleTree by Hilton Hotel and to the other businesses which are supporting the event to make sure it can go ahead.
“The awards are in their fifth year and are a deserved celebration for the athletes, their supporters, fund-raisers and sponsors.
This year they will take place in the largest venue yet with the biggest audience. We are fantastically excited and immensely grateful.”
Helen Symonds, Director of Sales and Marketing at the DoubleTree by Hilton Hotel, said: “We were so sad for the charity when the trustees told us about the situation, but we looked at it and decided we wanted to help.
“We were determined that the athletes and their families would not be disappointed, and we will be working very hard, with support from other businesses and organisations, to make sure they have a night to remember.
"The charity does such amazing work and we didn’t want to see this event fall apart."
Humberside Police has yet to comment.