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Jimmy Kimmel 's honoring his late pal Cleto Escobedo by raising some money for worth causes ... setting up a pair of fundraisers in his honor.

The talk show host revealed the plan on Instagram Friday ... telling fans the late musician was always eager to help others -- and, to mourn his loss, they've started two fundraisers to follow up his good works. Instagram / @jimmykimmel

The first cause, Kimmel says, is the UCLA Medical Center where Cleto received a ton of amazing care need the end of his life ... while the other is The Animal Foundation in Las Vegas -- Cleto's hometown -- in recognition of his love of animals.

We broke the story ... Cleto died of cardiogenic shock -- essentially, his heart couldn't pump enough blood to keep him alive. Vasodilatory shock, dissemi

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