Organizing/hosting high school meets can be a good way to fundraise. Cross-country moreso than track. Both can be good money, though. For XC 2013: start calling/recruiting hs coaches to bring their team there ASAP. Try to get the biggest number of teams possible. Charge a little less than the other local meets, get a few flags and a some spray paint. You can require your athletes to work at the meet, so you don't have to avoid paying workers. Shell out a little $$$ for cheap trophies = a pretty nice profit for your program, and a good experience for those high school teams.
Another good fundraiser is to put together a good concession stand at your meet. Granola Bars/gatorade and other stuff that'll keep if you do more than one meet = GREAT way to make money. If your athletic department has a popcorn maker or coffee maker ... you can make a batch for pennies, and sell it at $1 a bag (or cup). That can lead to a decent profit, too.
Lastly, consider doing more than one meet a season. For us, the 2nd (or even 3rd) meet does better than the first one. Provided that the first meet isn't a disaster, from an organizational standpoint.