This is the third year the non-profit has organized the giveaway.
Organizers say the event wouldn't be possible without the help of its corporate sponsors, as well as local schools.
The association says, without the giveaway, most of the kids wouldn't receive a gift this year.
The 23rd Street Merchants Association has some 300 members. Its goal is to raise awareness of economic and social needs while stimulating business growth and development.