Amy Taylor, a close friend of Whitmer, said people wanted to come together to raise money for his family.
"He was diagnosed with leukemia in December of 2005, and we've seen how that has affected his family first hand, so we've set up different funds asking friends and family to help out financially," she said.
Taylor said they planned the "Music is Life Festival" while Whitmer was undergoing intensive treatment.
"We're all music lovers, including Walt," Taylor said. "We thought it was a good idea to bring music to him and his family's life."
Whitmer's brother Chris said this festival is not just for his brother; it is also to help raise funds for the Leukemia and Lymphoma Society.
"We get to help other people out, which is great," Chris Whitmer said.
Taylor sai her husband and Chris Whitmer were able to find the various musicians scheduled to perform on Saturday.
"My husband [Jim Baughman] and Chris have been local musicians for many years, so between the two they were able to line up these musicians," Taylor said. "The festival will include folk, bluegrass and original songwriters. A bunch of different styles will be there."
Kevin Kozak, director of the festival, said as a State College music fan he has seen all of these bands and is looking forward to seeing them at the festival.
"It's an honor to have them at our festival," he said. "It is a testament of generosity."
Kozak said music has always been a part of Walt's life, and it's how the festival got its name.
"Walt mentioned the title to his wife because music has helped him to cope with his treatments and diagnosis," Kozak said. "[The title] seemed like a no-brainer."
The "Music is Life Festival" became important to the people who were putting it together because of their relationship with Walt.
Although this is the first year for the festival, Taylor said she is hoping it will not be the last.
"Walt is in the recovery stage right now, and we hope we can do the festival every year to help another community member in need," she said, adding that community members are encouraged to attend the event.
Chris Whitmer said he hopes this will help Walt get back on track.
"It's hard to find someone who hasn't known anyone in their life stricken by cancer," he said. "I had known people who had cancer and survived it, but didn't appreciate or understand what kind of hell they went through until it happened to my brother."