Some people can give money. Other people can give time. If you are of the variety that can give both, that's wonderful.
The Professional Machine Quilters Chatboard took up a collection for the tornado that went through Missouri. Each subscriber on the chatboard was asked to give $5 (instead of donation quilts). I couldn't believe it that I got a personalized thank you note for my $5 donation.
Sometimes it is better to give money, but you'll have to decide what's best for you personally based on what you are able to give and what the need is.