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At our school, we're not allowed to do 50/50 raffles (largely because the athletics department does it at most of the events). Something we did instead was a "ribbon drive". We chose a campus org. that needed money (which was the library, whose funding was severely cut this year), then made awareness ribbons to support the library, sold them for $1 each, and split the profits with the library. It was easy, cheap, and something everyone on campus wanted to support.
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