A staff of four expects to raise millions of dollars for hundreds of Central Texas nonprofits March 5 as part of the third annual Amplify Austin event.

I Live Here, I Give Here hosts the annual mega-marathon, which in its first year exceeded a $1 million fundraising goal by collecting $2.7 million. In 2014 the event again eclipsed expectations by raising a record $5.7 million—far more than an anticipated $4 million. The stakes are even higher this year, with the fundraising goal set at $7 million.

The event targets Austin's young population through online and mobile resources, said Tom Spencer, executive director of I Live Here, I Give Here.

"People can go online and shop for causes," said Spencer, whose group launched the idea after conducting research that showed Austinites do not donate as much as other U.S. markets.

The Amplify Austin event has helped improve Austin's charitable standing, he said, with one-third to one-half of all participants donating for the first time. The concept was drawn from other giving day events throughout the country, Spencer said, but Amplify Austin remains one of the early pioneers.

The fundraiser aims its efforts at 25- to 40-year-old professionals who want to give, he said.

"They have a sense of pride about where they live that we want to build on," Spencer said. "People talk about it as if it's ACL Fest—the ACL of generosity."

The event also benefits from its unintended competitive nature, as online followers can track donation totals throughout the day to see which organization raised the most money and whether I Live Here, I Give Here is any closer to reaching its annual goal.

Bigger organizations incentivize giving by donating matching funds. This year, St. David's Foundation has already pledged $1 million in matching funds.

#AmplifyATX prizes

This year more than 500 nonprofits will participate in the 24-hour fundraising marathon by hosting their own events to help raise awareness. Participants can also make money for raising the most funds. I Live Here, I Give Here is giving away four $5,000 prizes for fulfilling four goals:

• Most money made before midnight March 5
• Most money raised by a small nonprofit (budget less than $500,000)
• Most money raised by a large nonprofit (budget more than $500,000)
• Highest number of individual fundraisers

I Live Here, I Give Here, 1050 E. 11th St., Ste. 250, 512-717-4190, www.ilivehereigivehere.org, www.amplifyatx.org