March, claiming that the club are in `the worst financial position imaginable`.
The money would be used to buy a 20 per cent share in the club, as part of a takeover consortium being headed up by three local businessmen.
Trust board member Tony Taylor said: "This figure is our initial target - it does not represent our share of the Consortium bid as we are still waiting for a detailed breakdown from the Administrators regarding the financial position at the club.
"However we do recognise that the club could well be on the verge of extinction and we are confident that the local community will rally behind us."
The trust is planning an intense period of fund-raising, which was kicked off with a bucket collection at Saturday's Division Three game against Hull City which raised £2,000.
Taylor added: "We had an excellent response from fans on Saturday - even hull supporters were chipping in with donations and wishing us luck.
"It is time now for all supporters to rally together and do what they can."