The ex-boss returned to the city on Sunday to manage a Mayor's XI side against the Hereford United Supporters Team.
"It's a disastrous period for the club," said Turner.
"All we can do is have our fingers crossed that in some shape or form the club is going to survive and continues at Edgar Street.
"Whether it survives as Hereford United 1939 Ltd or it becomes a phoenix club remains to be seen.
"A football club is an important part of the fabric of the city.
"There were a lot of supporters here and it means so much to them.
"They will be desperate for the club to survive in some form or another.
"I just cannot come to terms with what has happened to the club from the position we left it in.
"It is testing times for everybody."
The match at Hinton's Broomy Hill ground was watched by around 300 fans, including Hereford MP Jesse Norman and former Bulls director Dave Preedy.
Preedy even took part in a charity ice bucket challenge following the match to highlight Motor Neurone Disease.
The craze, which started in America, has been sweeping across social media.
It involves people having a bucket of iced cold water thrown over them, before donating to charity and nominating other people to take part in the challenge.
Former Hereford players Karl Broadhurst, Rob Elmes, Danny Williams, Simon Johnson and Gareth Davies all starred for Turner's side, but came unstuck to a rampant supporters' team.
Fans' favourite Wayne 'Superman' Brown had to pull out of the game due to a broken foot.
Johnson opened the scoring, before Luke Griffiths equalised via a deflected free-kick.
Wayne Milner, Lucas Kirby and former Hereford youth player Callum Brennan added second-half goals to ensure the supporters' team secured their first win.
More than £500 was raised for the Adam Stansfield Foundation, with further funds going towards the Mayor's Charity and Hereford United in the Community Trust.
A signed Wolverhampton Wanderers shirt, donated by Turner, went for £85, with Councillor Jim Kenyon snapping up a horse riding trip donated by Herefordshire trainer Venetia Williams.
Hereford United chairman Andy Lonsdale also provided a signed Lionel Messi Barcelona shirt.
Stansfield's sister Andrea Parkin said she was delighted with the turn-out.
"It was an honour to be there and I was really surprised by how many people came, it was fantastic," she said.
"Adam was very fond of Graham Turner when he was at Hereford, but I didn't get a chance to speak to him when he was there.
"So it was a a real honour to meet him because Adam spoke really highly of him."
Justin Ratcliffe, chairman of Hereford United Fundraising Working Group, said it was a day for the football community to come together.
"The key thing is that we are here to help and grow links with grassroots football," said Ratcliffe.
"We all know the well documented issues at Edgar Street , but this was an opportunity for fans to come together to show how football can raise money for good causes."