A fundraiser will be held on Sunday to assist fourth-generation shrimper Rocky Magwood after his boat the Lady Eva sank in Shem Creek this week.

The fundraiser is being thrown by Shem Creek Fisheries and will take place from 1:30 p.m. to 4 p.m. at Mount Pleasant's Miriam Brown Community Center, 118 Royall Ave.

According to the nonprofit's spokesman Steve Waters, the organization hopes to raise the $25,000 to $30,000 needed to replace Magwood's shrimping boat and help him get back on his feet.

"We're trying to keep a legacy alive," Waters said. "Mount Pleasant was founded as a fishing village. The reason people came there was because Shem Creek was so beautiful. We used to have 50 to 60 boats out there. There's only five left. It's just a shame."

The Lady Eva took on water overnight Wednesday. The 70-foot vessel was docked at Wando Shrimp Co., when it sank in Shem Creek.

The Coast Guard on Thursday hired contractor Moran Environmental to remove the remaining fuel and any other hazardous substances from the shrimping boat.

The Lady Eva was raised, pumped out and refloated. The vessel will remain boomed off with a soft absorbent padding to capture any residual pollution, the Coast Guard reports.

Officials did not observe any significant pollution as of Thursday night.

Authorities have not provided a possible reason why the boat sank.