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The organizers of the Family 4th at Lake Union fireworks show say they need to raise an additional $450,000 by Sunday, or the show may be canceled this year.

Seattlepi.com reports that only $50,000 of the needed $500,000 had been raised as of last Thursday. The fundraising drive, was launched March 5.

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.

The fireworks show used to be funded by chief sponsor Washington Mutual. Chase Bank acquired WaMu in 2008, sponsored the 2009 Family 4th, but then pulled out of future sponsorship.

Since then, local corporations, small businesses and individual donors have teamed up to pay for the show.

One Reel said it has waived any profit from the event because of the larger value that the show provides to the community.

Donations can be made on the Family 4th website

Watch the 2012 show

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