The Richards Castle Soap Box Derby, which has been running for 17 years down Hanway Common in Richards Castle, saw a record attendance this year both on the gate and the starting line with 38 karts hurtling down the hill.
Money raised at the event, which is run by volunteers, is spent locally.
Since it first started back in 2003 more than £120,000 has been raised and distributed to local charities.
At a special presentation evening held earlier this month, this year’s selected recipients were invited to collect their cheques and speak about how the funds would be spent in their community.
This year the three main charities being supported included Ludlow Men’s Shed, the Hope Centre (Bromyard) and the Ludlow Ukraine Refugee Support Group.
The money handed over will help the organisations to buy vital equipment and resources to help support and extend their work.
David Burton, voluntary co-ordinator of Ludlow Men's Shed expressed his thanks saying: "We are absolutely thrilled with this tremendous award – it is already making a world of difference to the re-development of the Men's Shed, we are now installing metalwork equipment and power supplies to all our other equipment and this award will now enable us to re-open in October."
Other charitable organisations collecting cheques included Richards Castle Village Hall, Richards Castle All Saints Church, Fire Fighters Charity – represented by retained firemen from Ludlow, Police, Ludlow Air Cadets and Orleton Primary School.
The donated money will go towards a range of initiatives ranging from a memorial garden at the school, courses and rehabilitation work to enhancing essential facilities at the village hall and church.
Humphrey Salwey, chairman of the soap box derby, said: “My very gratefully thanks to all those involved in the event especially the competitors and the hard working committee, without them we couldn’t raise this sum of money. It’s been fantastic to hear from the charities tonight and learn about the incredible work they do and how the money will make a difference to local communities in need."
The date has already been set for next year's Soap Box Derby, which will be held on Sunday, June 25.