Wolves Aid, part of Wolves Community Trust, is encouraging local charities and community groups to submit applications for funding.
The Morgan Foundation, founded by Wolves' Chairman Steve Morgan, gives a minimum of 10% of its annual donations budget - currently £1 million per year - to the club's charity.
This means that Wolves Aid has approximately £100,000 to distribute to organisations that meet specific criteria.
Most funding is geared towards helping charities that support the disadvantaged and disabled, as well as promoting family life and the positive development of children within the city.
For more details, and to download an application form, visit: the Club section on Wolves' Official Website: www.wolves.co.uk
Matt Grayson, Wolves' Head of Communications, said: "Wolves Aid is already making a real difference to local charities and community groups that meet our criteria.
"We want to help as many local causes as possible. Over the past 12 months, we have helped charities such as Friends of Penn Hall School, Wolverhampton Samaritans and Albrighton Moat & Garden Project.
"We're very proud of the fact that Wolves Aid is now the biggest charity of its type in football."