Do you mean monetary as an award? If so, Starbucks Gift Cards or Home Depot gift cards are popular. My parents were at a white elephant party and everyone was trying to "steal" the Starbucks gift card from each other. That's the one item everyone wanted. You can use it across the US. Or another idea is a VISA gift card obtained from banks. A gift card to restaurants like Olive Garden are nice too.
Depending on the money available, a resort weekend in a place not far from the winner's home. If this is near the school of the reunion-ees, maybe you could get help from the resort in exchange for advertising.
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