One Reel, which manages the production, had set a March 31 deadline to raise the $500,000 needed for the event.
"We were several hundred thousand dollars short. It wasn't even close," said One Reel spokeswoman Aubrey Bergauer.
Bergauer said even if a last-minute source of funding were found this week it would be too late to organize a show this year.
"This deadline is a real deadline. It was driven by our suppliers," she said. "The reality is it's just not going to happen."
Bergauer donations already received for the 2013 show would be refunded.
In previous years One Reel put the show together and then asked for donations, but this year the group decided to try to raise the money in advance.
The money was needed for the actual fireworks themselves and behind-the-scenes necessities like police officers and firefighters.