As of November 2007, it is legal to hold a Texas Hold'em poker tournament to raise funds for a charity or as a fundraising event for a group (e.g. community sports team for equipment, school for computer lab, etc...).
Some Notable Limitations:
Maximum 100 players & Max. $100 buy-in (NO REBUYS)
Max. Total $10,000 per event (100 players @ $100 each)
Max. 25% for use on expenses (venue, services, marketing, etc...)