RUMFORD – The former head of a nonprofit organization that raises money for this papermaking town’s weeklong Fourth of July celebration stands accused of embezzling thousands of dollars.

Matthew Plante, 45, of Rumford was indicted Thursday by the Oxford County grand jury on a felony theft charge.

Plante served as president of Moontide Water Festival Inc., which raises $40,000 a year for the celebration that features a downtown carnival and a fireworks display billed as the largest in Maine.

No arraignment date has been set for Plante, who is accused of embezzling between $5,000 and $6,000, according to former Rumford Detective Wayne Gallant.

The festival committee, which relies on donations and fund-raisers, disbanded after the 2003 celebration. Plante, who returned to his hometown after retiring from the military, stepped in to keep the tradition going.

The festival’s new president, Joseph Roberts, said the committee later found that bills had gone unpaid. Roberts said Plante assured the committee that “everything’s fine,” but he dragged his feet in turning over records to the newly elected treasurer.

A phone call to Plante’s residence Thursday night was not answered.

An internal investigation was launched in October after Roberts was informed by Bangor Savings Bank that Moontide’s account had been closed after being overdrawn.

“When the dust had all settled, we found that we owed our creditors between $13,000 and $15,000. By the time the truth was found, it was too late,” Roberts said.

When committee members confronted Plante, he “voluntarily resigned,” Roberts said.

Gallant launched a criminal investigation in November.

The organization has since instituted new policies and procedures, added new officers, and installed new members on the committee.

“We realize we have to rebuild the trust we had with our community,” Roberts said.