New York (CNN) -- Organizers of New York City's Halloween parade have rallied public support and raised enough money to put on the annual event after facing financial woes stemming from losses caused by Superstorm Sandy in 2012.
Members of the non-profit organization that puts on the parade each year started an online fundraising campaign using Kickstarter.com with the goal of raising $50,000 by Monday.
In total, organizers raised $56,030 from over 900 donors -- more than enough to host the hundreds of puppets, more than 50 bands, and thousands of dancers, artists and costumed New Yorkers who will take part, according to organizers.
The parade was canceled for the first time in its 39-year history in 2012 after Superstorm Sandy "Frankenstormed" the event
After the fundraising success the parade has been officially revived, just in time for the 40-year anniversary, organizers said on the parade's official website.
The financial losses from 2012's last-minute cancellation posed a "huge obstacle" to putting on this year's parade, they said.
"We fronted money for the parade that we never got the chance to make back," the organizers said in their online campaign.
"We lost a lot of money ... . We really went down," Matthew Fass, musical director of the parade, said in an online video, adding that without donations from the public, the parade would have been canceled again.
Online organizers say that the parade will provide a much-needed economic boost to the area's local businesses, which was hard-hit by the storm.
Often referred to as the Village Halloween Parade, the annual festivities have taken place on Halloween every year since 1973 and include more than 60,000 participants. Two million spectators line a mile-long stretch of 6th Avenue to watch, the online campaign boasted.