May 25, 2010; Source: Denver Business Journal | Nothing focuses the mind like a stretch goal. Or at least that’s the thinking behind a plan by the Community First Foundation of Denver that plans to raise $1 million in a single day next December. All donations, to be collected online, will benefit nonprofits listed on the goup’s website, GivingFirst.org.

Asked about the likelihood that the foundation can raise that much from local donors in a single day, Ken Eggeman, president and CEO, told the Denver Business Journal “Absolutely. I’m very confident about this.” Seen as more than just a single-day phenomenon, there’s a larger reason for the undertaking. Eggeman wants the spirit of giving to catch on and help boost what he says is a low rate of charitable giving throughout the state. “We found that Colorado’s giving rate is so extraordinarily low in comparison to the kinds of income we generate in this state. We have to change the landscape of giving. This is our first attempt to do that.”

To kick start the giving program and bring attention to it, FirstBank of Colorado has already made a $250,000 donation, along with another $50,000 to help cover expenses. Even though Colorado Gives day doesn’t start until midnight, Wednesday, Dec. 8, the foundation will eagerly accept any donations between now and then, and certainly after.—Bruce Trachtenberg