Briefly describe this fundraising event:
You obtain donated gifts and articles from local businesses, individuals, etc. and then hold a silent auction, having people bid on each item. Highest bidder obtains each item. Various themes can be used as well. All proceeds go to the school and administrative overhead is VERY low. Businesses get some public relations as well.

Organizing the event:
Find a location, pick a date, begin soliciting businesses, communicate and promote the event through school newsletters, flyers, radio & TV (public service announcements), etc.

Degree of difficulty:
Very simple and straightforward.