ON the topic of raising money I've got a few pointers. My mother was a professional fundraiser for years and told me the following tips.
1. Take donations - If it costs you to do something you might as well not do it. For example if you do a bake sale you pay $5 for a cake mix, you might sell the cake for $7. Your donation is only $3, you might as well just have donated the 5.
2. Make it REALLY easy to donate. Online is best because anyone anywhere can do it. If I lived in the middle of nowhere and decided I wanted to donate but didn't have the chance for a few weeks I would probably forget. She suggested a button on the website. One on mountain buzz would have been best but even on the website make for him would be good.
3. If you can charge admittance to something free, do. For instance, if a keg was donated to a benefit, charge for cups. My brothers fraternity can't charge for alcohol and is required to serve sodas. Therefore to pay for their beer they charge for cups instead of "selling alcohol". This is an idea if a concert or some such thing were done, charge to attend or to get food/drink that would preferably be donated.
The biggest rule is that if you have to pay for it you won't make enough to make it worth it.
My own personal opinion on the memorial is that we should aim for the dam. If it's not possible and we have extra money, donate it to First Descents or something. I think he wouldn't particularly want a bench or some such thing but I think if we can't aim as high as the dam the bronzed New Testament would be the way to go. Just my personal opinion.
"If there is magic on this planet, it is contained in water." - Loren Eiseley