The 2009 Bay Street Hoops charity basketball tournament kicked off in Toronto on Friday, and given the challenging economic circumstances, the organizers are getting more creative in their fundraising efforts.

Last year, the three-day charity basketball tournament presented by RBC Direct Investing raised $226,000 for three charities: Special Olympics Ontario, Daytrippers Children’s Charity, and the Bay Street Hoops Youth Basketball Initiative.

This year, the organizers have set a slightly more modest goal of $200,000.

“We’ve had to be a bit more creative when it comes to raising our funds this year,” said Tim Costigan, one of the tournament’s founding members. “However, thanks to everyone’s efforts, and the fact that we’re all open to new ideas and full of energy, we should be getting close to our fundraising goal.”

The tournament will take place a week after the tip-off, from April 2 to 4 at the University of Toronto and Ryerson University.

Nearly 800 players from Toronto’s law and accounting firms, financial services companies and other corporations will compete in the tournament. It will feature eight men’s divisions and two women’s divisions, representing all skill levels.

Since the tournament’s inception in 1995, it has raised more than $1.6 million for children and youth charities in the Toronto area.

IE