I co-founded our local guild seven years ago and know that at the beginning it is sometimes hard to come up with ideas. Here are a few we used:
Have a secret sister program with members drawing names and committing to doing some small something once a month (card, candy bar, fat quarter, etc.) for their sister and then at your Christmas meeting reveal yourselves to each other. We set a dollar limit from the start on what could be spent per month and at Christmas.
Ask for volunteers to demonstrate a technique at the meeting or teach a class. Depending on the size of your group, you can limit it to a quilting technique or incorporate something different such as crochet or making a purse.
Have a fat quarter lotto - each member who brings a fat quarter gets a chance (one per fat quarter) to win them all.
We always have held a show and tell, usually at the end of the meeting so the members would stay!, so everyone could have an opportunity to share their works of art.
Good luck. This is a wonderful opportunity. We started out as a small group and still have less than 20 full time members. We live in a small community and over the years have changed meeting days, times, whatever it took to accommodate the majority.