Organisers of Anstruther Harbour Festival fear the event may have to be cancelled unless it is thrown a lifeline.
The organising committee, who are mostly over the age of 60, say they are suffering “burn-out” trying to coordinate the packed three day programme.
A meeting to discuss the future of the festival will be held in Anstruther Town Hall on Thursday October 19 at 7.30pm.
The committee has sent out an SOS for more volunteers and financial support from local businesses.
Honorary secretary Gail Sorley said: “These committee members are now at the point where burn-out is occurring. We are tired.
“When we have made public requests for volunteers to help this year and in the past the response has been extremely limited. We need to change this.”
Each year, the festival brings events including a procession, boat rally, exhibitions and live music to the village.
“We need volunteers to help plan and run the event,” continued Ms Sorley.
“To put on this event costs a lot of money and without financial support, the festival will just not happen.
“The Anstruther Harbour Festival needs more financial support from local shop-keepers and area businesses.
“On festival weekend we know, we see, how Anstruther businesses benefit from the increased festival footfall as people are eating, drinking, shopping.”
Honorary treasurer Bill Kennaway said: “It can be fairly exhausting but no-one is resigning, that’s my understanding.
“But we on the committee are all getting on a bit, so we need some fresh legs to spread the burden. It’s a fair size of a festival and needs more than just a handful of people to help out.
“It takes up quite a lot of time over two to three months, and a lot of evenings are taken up with it.
“Gail who is the secretary is dealing with 100 traders and about 50 bands and acts, so there’s a lot of management.”
Mr Kennaway, 70, said getting involved would reap rewards.
He said: “It’s community solidarity Like most organisations, the fun is being part of a team.”
“Quite a lot of events are aimed at kids so it would help to have some young families and younger people.
“And music is a mixture of ceilidhs and also rock bands. Stand up comedy is something we’ve not broken into but we might think about breaking that to get younger people involved.”