Another simple fundraiser for your fraternity is by putting on a 3 on 3 basketball tournament. All you need to do is put together a double elimination tournament where the winner gets a decent prize. The hardest part is finding the teams to play, but that actually shouldn’t be too difficult.
To find teams to play, do a decent bit of advertising. Put up flyers in the gym, dorms and dining halls. Let the other fraternities know that you guys are putting on a tournament. Actually, issue them a challenge.
Charge 10 bucks a team and have a great time. This actually can turn into a decent philanthropy by donating the money to charity. If it is a philanthropy, you can get a sorority or another fraternity to partner with you to boost participation in the event.
The event will be a lot of fun for everyone involved, but should also serve a decent fundraiser.