There is decent money to be made from a website. Your fraternity website has a lot of potential. You can add ads to your site and profit off your content. Yahoo and Google offer programs and it only takes a few minutes to sign up.
You can also solicit local businesses to put ads on your site. This has an even bigger potential in my opinion. Have local businesses put up coupons on your site for a small fee. This is a great way to monetize your site.
That begs the question though – what will get people to visit the fraternity website? One way to get decent traffic is by posting event pictures on your site. People love to see themselves on the internet, and if your site hosts pictures from every event, it will prompt people associated with your fraternity to visit the site.
You also can get people to visit your site by posting content that people will want to read. By posting regular recaps of what the fraternity is doing, you will attract visitors to your site. More people to the site means more ad revenue.
Be careful though that rogue brothers do not ruin a good thing. If you put ads on your site, the ad sponsors will kick you out of their program if you fraudulently click on the ads. Don’t try to game the system, you will get caught.