Moroni 7:47

But charity is the pure love of Christ, and it endureth forever; and whoso is found possessed of it at the last day, it shall be well with him.

In this context, charity is not an action or an attitude, it is the pure love Christ has for each of us. His love is eternal. We must open ourselves to it and allow it to possess us and fill every fiber of our beings. When we are possessed by Christ's love, it will influence us in profound ways that will change our very natures. We won't have to worry about overcoming temptations and keeping the commandments and magnifying our callings, for those things will come naturally to us through Christ's grace. Living the gospel will not be a trial and a challenge, for it will be simply who we are. It will indeed be well with us at the last day, for we will be at peace with God and with ourselves.

Ether 12:34

And now I know that this love which thou hast had for the children of men is charity; wherefore, except men shall have charity they cannot inherit that place which thou hast prepared in the mansions of thy Father.

Charity is the love God has for us. Unless we have his love, we cannot be exalted with him. So, how do we accept his love? We obey him. "Well done, thou good and faithful servant." We reach the tree of life and partake of its fruit, which is his love. We reach the tree by following the strait and narrow path, with our hand firmly grasping the iron rod of revelation. When we come to him, his love takes effect in our lives. It is his love, as embodied in Christ and the atonement, that will save us and exalt us.

Alma 16:16

And there was no inequality among them; the Lord did pour out his Spirit on all the face of the land to prepare the minds of the children of men, or to prepare their hearts to receive the word which should be taught among them at the time of his coming

Equality is always a hallmark of the presence of the gospel. When we have the fullness of the gospel and the pure love of Christ, we just naturally take care of each other. We don't need a government or even the Church to tell us when to give and how much. We simply cannot rest when others are in need.