The Family 4th at Lake Union fireworks show in Seattle will not happen this year because organizers haven't raised enough money.
One Reel, which produces the show at a cost of about $500,000, said Monday it can't move forward with the funds it has now.
“Unfortunately, the support for the Family 4th this year did not materialize,” said One Reel executive director John Stone “There are deadlines with these types of things that can’t come up at the last minute.”
The $500,000 amounts to about $1 per every per every person expected to watch it either in person at Gas Works Park, around Lake Union or on television. One Reel said it has waived any profit from the event because of the larger value that the show provides to the community.
For several years, the Family 4th was sponsored by large corporations. That ended in 2010 when Chase Bank pulled out. Other businesses and individuals collaborated and raised the needed money the last three years. That didn’t happen this year.
“I think the economy, the recession, changed everything,” said Stone.
Stone said One Reel has been working behind the scenes for about nine months to raise money, but made a stronger push in March with a public fundraising drive.