People like to be remembered when the leave. This is true in life and true in a fraternity. Take advantage of this natural human emotion to create a fundraiser for your fraternity.
Your fraternity house has a number of fixed assets you can sell off for a profit. The fraternity can sell naming rights to each room in the house. While this won’t work for a younger chapter, and older chapter will have alumni brothers who will jump at the opportunity to have their old room named after them.
First, you need to mail out a solicitation to every alumni brother. Explain to them the reason why the fraternity is trying to collect funds and what the money will be used for. Then, put a layout drawing of the house in the solicitation along with the price for naming rights for each room.
If a brother decides to purchase the naming rights for a room, let them know that there will be a brass plate hung in the room as part of the naming rights package.
Be sure to sell every room of the house. Some brothers are going to be sure to have crazy stories that occurred in a closet or bathroom. Someone will eventually buy the rights to those rooms.
The price for rooms will very greatly from fraternity to fraternity. Some alumni bases will be able to contribute much more than others. For simplicities sake, it is probably in the best interest of the fraternity to sell the rights instead of auction them off. It is just much simpler that way.
Regardless, this fundraising idea should be able to net a quick profit for the fraternity. It is a campaign that can only be run once – and you might as well take advantage of it.