For a bike club, I'd err on getting tools you need and paying a little more for quality over quantity.

Those tools are going to in a lot of hands on a lot of bikes. But do realize tools wear out- cone wrenches and BB/Cassette tools especially- they should be replaced seasonally or annually.

Here's a short list for quick pre race adjustment and repair:
- philips and flathead screwdrivers - and + small and large of each, though I seem to always grab a #2 philips over the smaller sizes.
- A set of open and box ended wrenches from craftsman 7 or 8mm to 17 or 19mm.
- L or T handle hex wrenches from 2mm to 10mm, ball end and flat end. Bondhous, Park, Pedros. But even the cheapo ring of allens are good enough for a season. The branded ones last for 2 seasons or more.
- Park or Pedros cone wrenches. Everything else is consumer grade- you may get a couple weeks out of them, instead of a season.
- requisite BB and cassette removal tools for Shimano, Campag, SRAM
- workstand?
- FELCO housing cutters- cuts derailleur housing properly. cost brake housing and inner wires very well too.
- spoke wrenches- Park red, green, black is more than adequate, Pedros double ended wrenches are good too. DT, wheelsmith are better. you may need special wrenches for Mavic, Shimano, Campag wheels.

Duplicates of some tools will be necessary if more than one person is diving into the box.

For anything else, you are venturing into repair areas that should be done before you are at the race or ride.