Scott: I've never done anything like that but I know that some TU or FFF chapters have helped out. You also might check with Orvis, Sage, TFO and Simms to see if they will donate equipment.
Here is a thread about starting a FF club at a university that might also provide some ideas:
Starting a club at my University!
You might also send a PM to fishingfly, he started a FF club at Auburn University awhile back and may offer some advice.