The Preston student who raised £40,000 has transferred the money to The Foxton Centre.
Dominique Harrison-Bentzen raised the money after a homeless man called Robbie helped pay for her taxi home after a night out.
She then slept rough for 24 hours, raising over £40,000, which was far beyond what everybody expected.
Dominique said: “I would like to announce that the funds have been passed on to The Foxton Centre, a local homeless organisation within Preston with a huge record of success.
“It has been agreed that the money will be used as intended to rehome as many people as possible in Robbie’s situation, of course along with Robbie who will have access to help and support.
“Thank you once again for your generosity, a fantastic outcome has been achieved for the local homeless community with many being rehomed for 2015.”
The Foxton Centre is best placed to use the money most effectively in the Preston community.
They have been working with rough sleepers, street sex workers, young people, street drinkers, and others in the community.
The Foxton Centre said: “Following discussions with Dominique Harrison-Bentzen, The Foxton Centre has agreed to accept a donation of £42,000 to use as a fund to help homeless rough sleepers in Preston find a better place to live.
“In accordance with the spirit in which donations were made, a proportion of the fund will be used to support the person known as Robbie.
“Also in accordance with the spirit in which donations were made, the remainder will be used in a similar fashion to help people who are long term homeless get off the streets and become established in suitable accommodation.
“This will be achieved by taking a personalised approach assessing individual need on a case by case basis with rough sleepers who are engaging with services and known to agencies working with Preston’s Rough Sleeper Panel.
“Full guidelines of how agencies can refer people to be considered for such support will be published in due course. The Foxton Centre will publish six-monthly updates on how individuals are being assisted away from a life on the streets. Spending of the fund will be accounted for and published in The Foxton Centre’s annual audited accounts.”