The event took place in Navy Pier's Grand Ballroom in downtown Chicago, where the 2011 team and coaching staff mingled with more than 750 guests.
"When my siblings and I became owners of the Cubs, we made participation in our community one of the pillars of our stewardship," said Cubs chairman Tom Ricketts in a statement. "Since then, we have invested our ideas and our dollars to develop a winning team both on and off the field.
"We are extraordinarily grateful for the help of Cubs fans, our players and coaches, their wives and the Cubs' staff who participate alongside us in these efforts and who made Wednesday's event such a success," Ricketts said. "The proceeds from [Wednesday] night's event allow us to continue to support inner city youth baseball and so many other programs and organizations to foster health, fitness, literacy and education throughout our great city.
"The dollars raised will allow us to extend our reach and improve the lives of children and families in Chicago and around the United States," he said.
In addition to supporting youth sports, health and fitness throughout Chicago and particular needs of the Lakeview Community, Chicago Cubs Charities will donate a portion of the net proceeds to charities supported by Cubs players. Among the agencies to receive funds are the Ryan and Jenny Dempster Family Foundation; Carlos Zambrano's Big Z Foundation; Make A Wish -- Illinois; the ILAC Center fighting diabetes and hypertension in the Dominican Republic; and Wounded Warrior, which provides programs and services to severely injured service members.
The Cubs have supported donations of more than $15 million since 1991, including grants by McCormick Foundation's Cubs Care of more than $1 million per year for each of the last six years.
Carrie Muskat is a reporter for MLB.com. She writes a blog, Muskat Ramblings, and you can follow her on Twitter@CarrieMuskat. This story was not subject to the approval of Major League Baseball or its clubs.