Held biennially in Shepparton, the award is delivered by a dedicated team of volunteers and supported through donations.
A new sponsorship initiative, the Treble Clef Club, is now aiming to help ease growing funding pressures.
Award secretary and founding member Judy Longley said the club would help ensure the career-starting competition would continue.
“We wouldn't be able to function or continue the awards without recurring sponsorships,” Mrs Longley said.
“As you can imagine, costs go up each award. The airfares for adjudicators is just one example of that.
“The club aims to raise those extra dollars – important dollars that we need for this year’s award.”
Joining the Treble Clef Club requires a $1000 donation, with members receiving complimentary tickets to this year’s final on Saturday, October 10.
She added that, while the club membership was set at $1000, the award board welcomed contributions of any size.
“We welcome all sponsorships, whether it be $5 or thousands,” she said.
Securing funding and volunteers remains an ongoing challenge for organisers.
“There are so many positives to this competition, but there are also aspects that are not easy to deal with, and the two main ones are funding and recruiting volunteers,” Mrs Longley said.
“Funding and volunteers are vital to secure the future of the award.
“It is built on volunteers.”
Mrs Longley was a founding member of the award in 1992 and said she has seen its “enormous impact” on the competitors over the years.
“The friendships that have occurred ... have been very special, and it’s something we didn't even think about when we started the award,” she said.
“Past competitors always say how much of a difference it’s made to their careers.”
She said it was that feedback that motivated organisers to keep the competition going.
To find out more or to become a member, visit australianpianoaward.com.au/become-a-partner