Timms said he thinks people will manage to satisfy their thirst for a great bargain as well give back to a charity.

"Black Friday and Cyber Monday are really important days for our economy, and we all enjoy the chance to get a deal," said Timms. "After two days set aside for getting deals, it feels right to have a day dedicated for giving back."

The event, which organizers hope will become a mainstay during the holiday season, kicks off Tuesday.