Looking for grants is often the best way to get money for a community college because they tend to be large donations and can sometimes be used in a number of different ways. Because community colleges are smaller, they normally have a smaller endowment than many institutions. Consider hiring a grant writer who can take on the specific job of raising money. Don't be afraid to think big -- according to the New York Times, the Bill and Melinda Gates Foundation recently gave 15 community colleges across the nation more than $16 million.
Ask area businesses leaders (through the local chamber of commerce) for donations. Inquire about conducting a fundraising drive through their business; this is a good way to connect with a large group all at once. Both small businesses and large corporations can be closely tied to community colleges because many employees receive their education there, according to the book "New Strategies for Educational Fund Raising" by Michael Worth. Community colleges are often critical in training and retraining the workforce.
Seek out a person in the community with an attachment to the school who might be willing to make a large donation. Naming a room after a donor, or a building or even a stadium to generate a large amount of money fairly quick. News media attention may get more people to donate if it's a worthy cause. According to the book "Successful Fundraising: A Complete Handbook for Volunteers and Professionals," tell the person this is a way to make a lasting impact on the community.
Perhaps someone on campus or in the community already is committed financially to the college through a building or program that bears his name. Ask the donor to help lead the next fundraising effort. People who are recognized as large donors in the community have connections to other large donors, and by just making a few phone calls or writing a few letters they can produce funds the college itself can't.