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We've had some luck bringing in a dunk tank and getting volunteers from different groups (sports teams, Greeks, staff) to be in the tank.
You charge per toss to get some donations but also work with local businesses (restaurants specifically) to donate food that is also sold.
We usually hit up a few pizza places and local bakeries - they donate some food and cash and get their names on the banners/flyers/t-shirts.
Bonus points if you can bring in a local radio station to play music and make it a small block party.
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