In my humble opinion, the very first piece of equipment you should buy is a first aid kit.......... make one up from scratch in a small plastic tackle or tool box....no rust!
I do not think it would be a good idea to fund raise for individual needs....you are opening yourself up for a lot of conflict...such as having parents up in arms over who is more deserving......kids upset because he got so and so and i did not.....
Many good lists on the net as far as equipment for your troop.....tents,ground clothes, stoves, lanterns, cook kits.............much of which you could put together