You're giving something back to the Internet community for others to share. Homebound and hospitalized students can still keep up with their studies through courses online. Students can complete course requirements at their own pace. Teachers can provide links in their online courses that keep up with the latest ground-breaking research and announcements. There is also great potential here for distance education.
Students can take courses from teachers and experts in remote locations.
Put your yearbook online. Yearbooks have become expensive to produce and to buy. Put it online and give every student access to a copy. The same can be done for art work. Create a virtual art gallery or museum featuring student and staff works of art.