MINNEAPOLIS (WCCO) – Thursday is Give to the Max Day in Minnesota.

Give to the Max Day is a 24-hour event that encourages people to donate to their favorite school or nonprofit.

Last year was a record-breaking year with $18.3 million donated.

The groups that get the most donations in different categories get even more money. First place gets an additional $10,000.  Second place gets $7,500.  Third place gets $5,000.  Fourth place gets $2,500.  And fifth place gets $1,000.

There are four categories including, all nonprofits and schools, colleges and universities, organizations that make less than $100,000 a year in revenue and then those that make between $100,000 and $1,000,000.

This is also nice, because GiveMN days ensures that all of the groups on this donation site are approved nonprofits and registered schools.

GiveMN does charge 4.9 percent on each transaction, to help cover processing costs.

For more information about Give to the Max Day, or to donate, visit GiveMN online.