I can take them or leave them, an an attendee. To donate to them? I hate that. To chair the committee that secures donations for them? Again, I can take it or leave it. I have done all of the above.
The private school had kind of a neat thing called the "Chance Room". They took items valued at $50 and less and set them up in an empty classroom. Each item had a ticket basket beside it. Tickets were $1 each, and you bought tickets, signed your name & phone #, then you dropped the tickets in the baskets for the items you wanted to win. So a $20 Starbucks card might get 100 tickets in the basket. No way you could SELL it for $100, so you made more on the items than they were worth. Unfortunately the school was in a church, and the church decided the chance room was gambling, so that was the end of that. It was a HUGE money maker for the school, the kids LOVED it, and it was a way for everyone to participate, NOT just families with a lot of money.
I have also been to a fundraiser where they blew up a bunch of balloons and put slips of paper in the balloons listing a prize valued between $10 and $50 (or something like that). You bought a ticket for $5, popped the balloon, and the prize in the balloon was yours. That's a good way to get rid of the little odds and ends that won't go well in a silent auction.
Themed baskets are always good. Class projects are good (furniture, usually, with handprints or whatever on it from each child). I personally own a giant popcorn bucket painted by the kids in DS's Kindergarten class. We have never used it, but I own it!
I know we have a fundraiser for the high school coming up. The tickets are expensive, they always hold it in some venue I have never heard of, and we don't hang out with the other parents from the high school so we will skip it. I know I have gotten several e-mails and a thing by snail mail asking me to donate some HUGE item, like my DVC points or my airline miles (or better yet, BOTH), but so far I haven't donated anything. Cheaper to just make a donation to the school and skip the party.