The heated pool was built in 1972 by villagers from Billinghay and usually opens from May to September each year.
The committee said the pool’s condition had deteriorated but raised the money through events including carol singing, bingo, raffles and Elf trails, alongside the support of Billinghay Parish Council.
“It’s been obvious from the start that the community has been really behind this, they want to see their pool opened,” Mr Keyworth said.
He added to fully refurbish the pool for “generations to come” the committee needs “a lot more money”, which they plan to raise gradually.
Mr Keyworth said: “Instead of £500,000 just in one go we’ll try and break it down a bit. We’ll do bits here and there as and when funding comes up.”
The committee also said it would look to extend the pool’s opening period to between April and October.
Mr Keyworth told BBC Radio Lincolnshire that the pool’s reopening was down to community’s support and fresh ideas from new committee members.
He said: “There’s younger people involved, people with different ideas and I think that’s just what’s managed to turn this around. It’s been fantastic.”