Yes, CHARITY is a Scrabble word!

Letter values in Scrabble US: C 3, H 4, A 1, R 1, I 1, T 1, Y 4.

Is it a valid word?

CHARITY is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a foundation created to promote the public good (not for assistance to any particular individuals)
a kindly and lenient attitude toward people
an activity or gift that benefits the public at large
pinnate-leaved European perennial having bright blue or white flowers
an institution set up to provide help to the needy

Also: brotherly love, jacob's ladder, greek valerian, polemonium caeruleum, polemonium van-bruntiae, polymonium caeruleum van-bruntiae.