Jay Williams means well, BUT those GoFundMe donations to cover James Wiseman's NCAA "fine" won't do JACK for the Memphis superstar ... 'cause the org. won't allow it.
TMZ Sports has learned ... the NCAA is aware of Jay's fundraising efforts to help satisfy Wiseman's $11,500 mandatory donation -- but our sources say Wiseman is NOT allowed to accept the money.
Of course, Wiseman was suspended 12 games and forced to donate $11,500 to charity after his family accepted a loan from Penny Hardaway to help cover moving expenses in 2017.