Well, it works for us - our relations have agreed that each year from now, no presents, but one family will choose a charity, we will all give money to that charity.
Only problem is choosing one of the many deserving causes (it's our turn to choose this year).
Go local BB. Choose something that really needs your money in your community; something that gets kids active, sports, drama or playing musical instruments, something like that. Or a local animal sanctuary if thats of interest to you, or a fund to protect a local building.