B-Xtreme is a charitable trust which was set up earlier this year to raise money to enable local youngsters to participate in events as part of the club locally and nationally.
It has about 30 registered members, ranging in age from 5 to 19.
Mentor Chareese Henarae said the three boys, aged between 12 and 14, found out about the funding themselves and applied for it and arranged the competition with little outside help.
She will judge parts of the competition, with older Taupo skaters also on the judging panel.
"It's about holding the skate competition but doing it in a way that can bring a positive mental health message," she said.
This is the first competition the group has run.
Registrations for the event will take place from 10am with competition starting at 10.30am.