Well, either you do it for a flat fee which covers your time and cost
of doing business as well as income lost from the fees you'd get for
the reprints, or you do it for a fee for your services for the event
and then charge for the reprints.
The latter way, they should only get a courtesy album - no CD - and
sign a contract indicating that they understand what they're allowed
to do with the album.
Remember, with that many people you'll be needing to hire a couple of
assistants just to be certain of getting shots of everyone and you'll
be needing to scout the location and bring in lights for the awards
and posed shots - that's 4-6 camera bodies and flashes and flash
brackets and lots of batteries and memory cards and hours downloading
and burning CDs.
This is the equivalent of a very large wedding. Charge a very large
wedding fee - $5-10K plus expenses (including the money you pay the
assistants and to rent the gear) and give them the CD and be done
with it. Just write "no advertising usage without an additional fee"
in the contract.
--
Emily L. Ferguson
mailto:elf@xxxxxxxx
508-563-6822
New England landscapes, wooden boats and races, press photography
http://www.vsu.cape.com/~elf/