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Wednesday, 05 June 2013 12:51

The show must go on

Despite embezzlement, July 4 group pushes ahead

BANGOR When theft occurs in most for-profit businesses, it usually is a major setback to the finances that make businesses run. But unless it is so drastic that it cripples the operation's cash flow, most business can withstand a fair portion of it and even recover such funds through insurance proceeds or continuing operations.

For nonprofits and charities, however, embezzlement by those trusted with maintaining the organization's assets sometimes spells doom for those concerns that rely heavily on donations to operate and fund their respective missions. Yet with Independence Day a mere four weeks away, the Greater Bangor 4th of July Corporation has been able to press on despite the theft of the charity's reserves, and has raised more than two thirds of what's needed to fund the area's Independence Day festivities.

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