Coastguard Queenstown chairman Tim Francis said there would not be a coastguard in the Wakatipu were it not for the sponsorship and the support of Coastguard New Zealand.
The funds would be used for crew training and rescue boat equipment upgrades, he said.
"The next step is to get a purpose-built boat for the lake. Our first priority is working on a building to house ourselves.
"The focus is still on the Frankton marina. It's been proven to be the best place, due to the crew response time to the vessel. Queenstown Bay is very exposed and most of our calls are at night when we are at home, not in the town centre."
Coastguard Queenstown intended to launch a programme to raise awareness of water safety, with a focus on the particular conditions and low temperature of Lake Wakatipu, for the summer of 2011-12.
More than 20 people attended the function in the Scout hut at the Frankton marina.
They included eight of the 10 coastguards and airport staff, Coastguard New Zealand Southern regional manager Cheryl Moffat and Southern region operations manager Mark Whitehouse, both of Christchurch, as well as Queenstown Lakes deputy mayor Lyal Cocks, of Wanaka.
Mr Sanderson said $30,000 was the corporation's single largest sponsorship and tied in with the airport's imperative for operational safety.
Sponsorships were reviewed annually and funds came from general revenues and part of operating profits, he said.
"While it's not a regulatory requirement to have a rescue boat, like it is to have fire appliances, we see it as important to have these safety operations as well, in the unlikely event of an aircraft disaster."
