The tally, currently £58,155, will be matched by the club.
It was reported in May that unemployment in North Lanarkshire rose by 71% from the start of the Covid-19 pandemic to January.
Motherwell chief executive Alan Burrows, whose club have around 4,500 season ticket holders, said: “It says everything about the compassion and generosity of our supporters that they’ve raised such a significant amount of money for this initiative.
“Our club exists to do everything in our power to benefit people in our local community, whether they are Motherwell supporters or not.”