"The sky is the limit" for how much Life Education Trust wants to raise with its annual Dunk for Harold event this Sunday.
Last year 45 participants plunged into Tikitapu (Blue Lake), raising more than $4000 for the trust.
The trust is hoping for more than 100 people to participate this year, with a fundraising goal of $10,000.
Tikitapu had been the venue for at least a decade, Life Education Trust Rotorua trustee Kylie Brackfield said, with the challenge having always been a "cold dip in the middle of winter".
But this year the trust decided to change it up with a CBD location that would encourage more participation, Brackfield said.
The Aquatic Centre's outdoor pool would not be as "arctic" as Tikitapu, Brackfield said, but it would still be a "challenge" as two new trophies would be up for grabs.
"The atmosphere was electric last year so we're hoping it'll be the same this Sunday," she said.
For those not too keen on getting wet, gold coins are going to be handy as there will be other ways to get involved, Brackfield said.
"We're also going for more of a community feel. We've got The Hits involved, a sausage sizzle, hot drinks and a spinning wheel.
"And our trophies will hopefully build pride, community and momentum going forward."
As the charity is not government-funded, Life Education Trust relies on donations and fundraising events to continue educating Kiwi kids on the importance of healthy living.
The trust's popular mascot, Harold the Giraffe, has visited every primary and intermediate school in Rotorua, with about 6000 kids hearing his healthy-living message.
Trust chairwoman Jules McLaughlin said the Rotorua-only event was important for raising the profile of its work.
"We teach [kids] the knowledge and skills to lead healthier lives. We help them to understand that they are unique and precious, so making good choices is really important."
What: Dunk for Harold
When: June 24, 10am to 12pm
Where: Rotorua Aquatic Centre