The Southern Region Lions Air Ambulance Trust, which was registered as a charitable trust in 1991, will make a decision on its future before the end of the year.
Trustee Jules Tapper, of Queenstown, who is also the Lakes District Air Rescue Trust chairman, said the trust was doing "a bit of involved looking" as to whether it was still required.
"Is there a need for us to exist anymore?
"It's a wee bit premature [to say it's winding up] - we are still fundraising."
Mr Tapper said the trust was established after a group of people, including Kingston Community Association chairman Peter Gibson, of Kingston, decided there was a need for an air ambulance to service the southern region.
"Peter and the boys down in that area felt Eastern Southland was poorly served, so they hopped into action, fundraising to provide facilities and pods of medical equipment for air ambulance operators."
However, when search and rescue contracts were later let by the district health board, ACC and the New Zealand Police to the Otago Rescue Helicopter Trust and the Lakes District Air Rescue Trust, the Southern Region Lions Air Ambulance Trust became primarily a funding body, Mr Tapper said.
A helicopter dedicated to rescue work is now based in Dunedin and 12 helicopters equipped to the standard required are based in Queenstown.
The Lakes District Air Rescue Trust worked on a rostered basis, with each operator taking a turn at being on call.
Helicopters worked in conjunction with St John Communications, based in Christchurch, and local St John staff, with duty helicopters usually airborne between eight and 20 minutes after a call was first lodged.
"In the early days, the [Southern Region Lions Air Ambulance] trust was supplying a lot of different operators with kits, but we don't need that now.
"What they have been doing is raising funds through Lions Clubs and other projects, which are available to the Otago and Lakes District trusts.
"They're a funding body; they're not an operating trust."
Mr Tapper said the matter would be discussed in September, but at the moment there were no plans to stop fundraising.
If the decision was made to wind the trust up, all funds would be distributed to the respective air ambulance operations.
"At the moment, we're in fundraising mode."
