I have gone with "local." My workplace organizes sending holiday gift baskets to families in need or retirement homes where the residents don't have families nearby. The retirement center baskets include socks, scarves, hats, or blankets. One benefit to helping locally is that you get to meet the people you're helping, if you want a more personal connection.
And agreed with the other people who've posted here already--that one small project won't be insignificant if it helps one person.
All of these charities are doing such wonderful things for people...you can't go wrong by knitting for any of them!