There are many examples of Tzedakah funds that operate according to Maimonides' principles above (particularly #2), including Hands on Tzedakah (working with non-profits in the USA and in Israel), and Mitzvah Heroes Fund (working mainly with non-profits in Israel).
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It is based on the Hebrew word (צדק, Tzedek) meaning righteousness, fairness or justice, and it is related to the Hebrew word Tzadik meaning righteous as an adjective (or righteous individual as a noun in the form of a substantive).
Rabbi Menachem Mendel Schneerson, the Lubavitcher Rebbe, urged Jews everywhere to conduct large and small Hakhel gatherings in synagogues and private homes to foster greater unity and increase Torah learning, mitzvah observance, and the giving of charity.
Some have the customs of study laws relating to such transgressions, fasting and giving extra tzedakah during this time, and of reciting Selichos and other Kabbalistic prayers and tikkunim (Kabbalistic prayers or meditations) designed to counteract their harmful effects.
Tzedek, the root of tzedakah, means justice or righteousness.