-=**WARNING**=- SPOILERS -=**WARNING**=-
you've been warned
A jet engine from the future crashes into Donnie's house and triggers a parallel world, which will end in 28 days. Frank is sent to warn Donnie of the end of the world, and help guide him into a position where he will send the engine back through time, closing the parallel time frame, and saving the world. Frank is basically a premonition from the future, as Donnie kills Frank at the end of the film. Donnie is manipulated into situations which will eventually leave him no choice but to send the engine back through time. He meets Gretchen, which proves to him that he doesn't have to die alone (one of his fears), and makes him less scared of death. He burns down Cunnighams house, which leads events to making his mother go on the trip with his sister, thereby setting up the plane in the correct position to deposit its engine into the black hole. His shrink also admits that Donnies medication are placebos, indicating he's not as mad as he thinks (this is on the DVD as a deleted scene). As the climax begins to unfold, Donnie unwittingly gets Gretchen killed, and realises that his mother and family will also die if he doesn't close up the black hole. In closing the black hole, Donnie sacrifices himself, saves Gretchen from being killed, and because he doesn't burn down Cunninghams house, saves his mother from being on the plane (as the other mother could take the kids on the trip instead). He also doesn't kill Frank. In closing the black hole, everybody then wakes up on what would be back on the 1st of October (the start of the movie) and to the news that Donnie has died from a jet engine landing on him