Organisers of the Big Green Gathering (BGG) in Somerset have received a £30,000 donation towards solving the festival's financial woes.
The BGG said it was increasingly confident the festival would survive
In a letter to the appeal fund the unnamed donor said he would be mortified if the festival were to stop.
"I have far too much money and not enough fun. I have been coming for the last 10 years and manage to have a lot of fun at your festival."
The BGG is now more than halfway to its initial target of raising £100,000.
"This wonderful contribution, together with other smaller donations and a £2,000 profit on the first of our benefit concerts, means that we are now more than halfway towards our initial target of raising £100,000."
In a statement on the BGG website, organisers said they were increasingly confident the festival would survive.
Cash donated to the rescue fund is being held in trust against the possibility of the company being compulsorily wound up.
The fund will continue to be held in trust until voluntary agreements can be made with the festival's creditors, at which point the money will be released to pay them.
The annual festival is a five-day event promoting sustainability and good environmental practices,.
Organisers blamed increased security costs of £250,000 at this year's event for their predicament.