Several of the current trustees were due to retire at the next AGM, in February 2019, and the search for replacements had so far proved unsuccessful. Costs were increasing but audience numbers, and hence income, had plateaued.
Burch said the competition started in 1987 as a relatively low-key national event organised by a small group of volunteers.
It had since become an internationally recognised event, attracting applicants from around the world, but was still largely run by volunteers with one long-term paid position and a short-term contract media manager.
"This model is unsustainable,'' Burch said.
''With increasing costs and no growth in audience numbers, it's possible that the competition has developed as far as it realistically can in Kerikeri.''
The trustees were working on options for the contest's future, which included the possibility of relocating the event to a centre with a bigger population.
The competition is held every second year and is open to pianists aged under 28. This year's winner took home $15,000 from a total prize pool of $32,500.
Second place went to Katherine Benson, of the US, Sunwha Kim, of Korea, was third and Baichao Lan, of China, fourth.
• Email Sylvia Burch on chair@kipc.org.nz if you want to get involved.