Rag is Leeds University Union's oldest society.
Leeds Rag has got money to give away and wants to hear from small, local charities wanting a grant.
Rag is Leeds University Union's official fundraising body and is run by the students.
Each year Rag gives a proportion of the money raised to local charities and organisations in small donations.
This year's Community Fund is around £4000, small charities and organisations can apply for grants of up to £300.
The organisations applying must have an annual turnover under £150,000 and say what a grant would go towards.
Andrea Thompson, from Leeds Rag, said: "We like to keep Rag fun that's why so many students take part.
"We are aiming to beat last year's total and we have even more money-raising events being put on.
"We like a variety of fundraising events and it means almost everyone at university will have heard of us and know what we do."
Overall the 2009-10 Leeds Rag raised a record total of almost £203,000.
Leeds Rag runs charity events ranging from fashion shows, walking across burning coals, to building schools in rural Africa.
The events raise money for a range of local, national and international charities.
Andrea Thompson said: "The organisers of events decide the charity the money will go towards, and quite a few of our students like to keep it local."
Community Find cheques are handed over at a presentation.
Last year the Community Fund made donations to 23 small, local charities including Little Woodhouse Community Association, Leeds Space Network and Middleton Park Football Club.
Other local organisations also benefited from the main RAG charity including Leeds Mencap with a grant of nearly £6000. Money was also given to Leeds Mind, Martin House Hospice and St George's Crypt.
Rag originally gave out old clothes to the poor, which is one version of where the word comes from. Another story claims that it comes from the slogan 'raise and give'. No matter how it was named Rag continues to make a contribution to the city's charitable giving.
for the Community Fund is now available to download.
The deadline for applications is Friday 4 March 2011.
Successful applicants will be invited to a presentation event during May.