$50 sounds like a solid price point, but really it all depends on the brand of the fleece. If it's some Hanes or Fruit of the Loom I'd expect that number to be substantially lower.
Have you looked into the solutions Cafe Press offers? You can do custom embroidery on a decent hoodie in the $50 range (less if you want more qty; and more or less depending on brand or style.)
On top of that, by uploading the logo, you really open up to a range of other swag options....coffee mugs, hats, and the all-mighty ONSC flask.
Let me know if it's something I can help with.
-Derek