WINSTON-SALEM, N.C. --- Thousands gather for the 37th annual Timco Invitational in Greensboro and the 38th annual Frank Spencer Holiday Classic.
Proceeds from ticket sales and sponsors go towards the athletic departments at each school in Forsyth and Guilford County.
2012 Frank Spencer Coordinator and Mount Tabor Principal Ed Weiss said each year the schools receive approximately $3,000 towards their athletic budgets.
"It's helped to offset many of the expenses such as officials, transportation and uniforms and equipment; just the things needed," Weiss said.
Randy Cobb with Greensboro Sports Council said In the past 13 years the Timco has raised 1.2 million dollars towards the eight schools in the tournament.
Last year each school received $12,500.
"This can be as much as 10 to 25 percent of their annual athletic budget," Cobb said.
The Timco invitational hosts both men's and women's basketball teams.
The Greensboro based tournament also awards four $2,000 scholarships to four student athletes based on athleticism, academics and community service.
The chairmen of the tournament each yer also donates to a charity of his or her choice.
Combined the two tournaments host more than 20,000 fans for the competition.