This fundraising idea is for over 18s only and has the potential to work well for a college sorority or Pan Hellenic council.
The central idea is to host a pajama and lingerie theme fashion show. You'll need to get a collection of volunteers ready and able to model the latest looks for you.
Make contacts with retailers or manufacturers who are prepared to donate time and clothing for the show — remember you can offer them free advertising during the event and the opportunity to sell their items after it. (you could negotiate with them to get a percentage of any sales that are made). You're also going to need a venue to work in — a local nightclub, restaurant or small theater could work well.
The next step is to sell audience tickets — whether you limit sales to women only, those over 18, or just those within the sorority system is up to you. It's a good idea to talk it over with your volunteer models and group leaders to see what they're comfortable with.
Identify an emcee from within your organization to take charge of proceedings — preferably this will be someone who's comfortable with public speaking and who has an interest in fashion. By the time you've tallied up takings from ticket sales and clothing sales, you should have a healthy profit.