[dubious elise]

Our school has always had lots of success in having a "Penny War" between classes. Only pennies can be donated and the winning class (by class, I mean freshmen, sophomores, juniors, seniors) either gets bragging rights or some sort of minor ice cream party (we have a large-ish high school).

Another project that raised a goodly amount just from pocket change of all kinds was "Fill the Fishbowl" where students from a group would go to class with fishbowls and coffee cans asking for spare change from their peers.

As for donating it, I'd say to stick with the American Red Cross. It is a widely known institution and many people will donate just because of the name. They are familiar with relief efforts and are your best bet for a cause to donate money towards.