ARVADA - More than $20 million was raised Tuesday during Colorado Gives Day to support 1,442 nonprofit organizations.

Colorado Gives Day is an initiative established in 2010 to increase philanthropy in Colorado through online giving. Donations were accepted through the website for a 24-hour period on Dec. 10.

A record number of nearly 88,000 donations have been recorded, a jump from last year's total of 69,127. Donations ranged from $10 to $300,000.

The final Colorado Gives Day numbers will be announced by the end of the month.

The amount of money raised and the number of nonprofits participating have increased each year. Last year, $15.4 million was raised during the 24-hour period; $12.4 million was raised in 2011, and $8.4 million was raised in 2010. The number of nonprofits that participated reached 1,258 last year, compared with 932 in 2011 and 539 in 2010.

Nonprofits have created profiles on the site that people can review and donate to if they care to. Community First Foundation, a community foundation serving the Denver metro area, created the initiative in 2010 with the financial support of Arvada-based First Bank Holding Co.

"We are beyond impressed by the sheer generosity of local businesses and Coloradans on Colorado Gives Day," said John Ikard, CEO of FirstBank Holding Co. "It's amazing to think three short years ago we were hoping to raise just $1 million and today, we've raised more than $20 million. FirstBank is truly honored to help this philanthropic staple continue to grow and we want to personally thank every Colorado Gives Day donor for their support."

The ColoradoGives website is a year-round online resource and donation tool. To reach donors, nonprofits need to join the site and create a ColoradoGives profile.