You should be.
You can enter a cause, start a cause or support a cause. America’s Giving Challenge started Oct 7 and runs through Nov 6 — so there is still time. From their about page:
America’s Giving Challenge, also referred to as the “Giving Challenge” or just the “Challenge,” is a 30-day national competition that encourages people to leverage their personal networks and online social media to help win cash awards that will total $245,500 on behalf of their favorite nonprofit. Participants in America’s Giving Challenge will compete for daily and overall cash awards based on the number of donations generated for a cause, not dollars raised. Awards will be given to the nonprofit beneficiaries of the causes that garner the highest number of unique daily donations* between 3:00 p.m. EDT October 7, 2009, and 2:59pm EST on November 6, 2009.
I also just found out that the W. K. Kellogg Foundation has contributed an additional $75,000 to the pool. This mean there is more opportunity to win funding, get visibility, and engage with a wide-ranging community of supporters. The Case Foundation has done a great job of pulling together supporting information. I was lucky enough to be one of their Giving Gurus over the summer. You can find a metric ton of good information from Allison Fine, Beth Kanter, Geoff Livingston, Katya Andresen, Holly Ross, Sarah Koch, and Susan Gordon.
You can also follow the action on Twitter via #AGC.
