Ed,
First, I don't know if you can really top the net you get from the traditional format. I've been involved with a some second events that were pretty successful. Here are a couple of ideas that have gone over really well:
game night. Boil up shrimp cajun style along with corn on the cob, veggies and bread. We did a second type of meat for those that don't eat shrimp. Then, we had TONS of games to play. Various card games, dice games of various sorts, lots of raffles with LOTS of prizes (bucket style raffles are really good). The idea was everybody walk out with something. It didn't net quite as much as the big banquet (as is expected since we didn't tap every resource for the second event and there were a lot fewer sponsorships sold), but it was a huge hit with attendees and as a second event it did REALLY well.
Shoot out. This was fun, but it didn't net as much as the above event. It's an annual sporting clays shoot. Prizes for various classes of shooter. We divided all shooters into men's, women's and youth and then separated each division into 3 flights each based on score. That way those of us that can't hit the broadside of a barn aren't competing against the guys that shoot clays 5 days a week. We did allow participants to shoot more than one round by buying in again. We also added in "bonus" targets that would win the shooter a prize on the spot (throw in odd color targets at random stations throughout the sporting clays course). We also set up a 5 stand range but changed it up some. We built a 2 man "blind" and set a pair of shooters in the blind, giving each shooter X number of shells. When they said pull, the guy running the shoot would proceed to trigger 25 birds in about 40 seconds (I'm not positive on the timing, but it was pretty quick). This is an awesome game and was very easy to run. Set up a prize for top score and possibly a bonus prize for a perfect run. Again, you could add in some bonus clays to this game as well. After the first year, we had people lined up all day to shoot this event. We incorporated a small silent auction, and had a cook out (burgers and dogs, etc). Again, we didn't net TONS, but it was fun for everybody including the committee since we were able to participate more than run the event.
One that I always wanted to try but never have gotten around to is a poker tournament. I haven't investigated the logistics of it, or really analyzed the costs, but it would be a fun way to raise money.
Scott