Nearly 200 donors from 11 countries have gathered for the biggest ever Ireland Funds conference in Killarney.
In 2009, in response to the severe downturn in the Irish economy, the Worldwide Funds launched the Promising Ireland Campaign to raise €100m for Irish charities.
It was announced last night in front of Taoiseach Enda Kenny that the target had been surpassed - over €200m was raised in the past five years and 800 projects were supported.
Ireland financially was "coming out of the doldrums," the American ambassador Kevin O'Malley said.
BBC Foreign Correspondent Fergal Keane was presented with the Worldwide Ireland Funds annual literary award of US$25,000.