My sister and I knitted stuff - dishcloths, hats, scarves, and the like - and sold it for a missions fundraiser to great success. So handmade items is one thing. If you have a service that you can offer, you can raise money that way, too, though it would be a longer-term commitment. (I'm thinking along the lines of music or art classes.) I tend to be of the "make things and sell them" mentality rather than the "host a fundraising dinner" one.
Here's a tip: relatives are a great market.
If you chose to make and sell something, be sure to let your extended family know; most great aunts, uncles, and who-knows-how-many-times-removed relatives will usually jump at the chance to buy your goods. 
I hope that was some help.