There is an easy way to donate in order to help victims of Tuesday’s earthquake in Haiti. The American Red Cross has set it up so that you can make $10 donations by cell phone. From your cell phone, send a text message to 90999 with the word "HAITI". You will get a text back asking you to confirm "Yes". $10 is charged to your cell phone bill. Yes, it’s that easy. Do it now!!
Other donation efforts can be made here at this link. You can donate blood as well. This link shows you how.
Barry Ritholtz has already linked to several other ways to donate. Please read his post How to Send Aid to Haiti which has links to several sites that are making relief efforts in Haiti.
Doctors Without Borders is in particular need of donation because all three of there existing facilities in Haiti have been devastated by the earthquake and Haiti needs doctors yesterday. Here is the link to donate.
Update: A friend informed me that for anyone looking to donate to the relief effort in Haiti, Partners in Health is another good place to start. Apparently, their clinics and hospitals are still intact after the earthquake.