How to Get the Best ROI From Your Event

For decades, fundraising events have been the default answer for many non-profits. Galas, dinners, tastings, lectures, golf outings—every year, organizations pour enormous amounts of staff time, volunteer energy, and institutional focus into making these events happen. When the night goes well, the room feels good, the photos look great, and the revenue number at the top of the spreadsheet appears encouraging.

But when you look closer, the story often changes. Net revenue is modest. Retention of event donors is weak. Major gift work stalls. And the true cost of the event, once staff time and opportunity cost are factored in, can be staggering.

At Veritus, we started calling this out as far back as 2011. Our tone back then was sharper than it is today, but our position has not changed. Events are frequently overused, poorly integrated into donor strategy, and mismanaged in ways that quietly damage major gift programs.

That does not mean events have no place. It means they must be put in their proper role, so you get the best return on investment as possible.

Events Are a Tactic, not a Strategy

Major gift fundraising is about relationships. It is about understanding what a donor cares about and helping them find meaning and joy in supporting work that aligns with those passions. When done well, gifts are the natural outcome of authentic connection.

Events, by contrast, are a tactic. They are a marketing and engagement tool that can support relationship-building, but they are not relationship-building on their own. When organizations confuse the two, they often assign Major Gift Officers to plan events, manage logistics, or chase ticket sales instead of doing the work they were hired to do: manage donor relationships.

If your major gift team is spending significant time on events, your fundraising strategy is already out of balance.

Start With the Audiences That Matter

The key to getting real ROI from an event is strategic clarity. Before invitations are sent or programs are designed, leadership should identify the four audiences that will be in the room and decide, in advance, what success looks like for each.

Those audiences are current major donors, event donors, prospects, and attendees.

Current major donors should never be treated as event revenue targets. An event is simply a strategic touchpoint in their cultivation and stewardship, not the end goal. Their event gift is a small part of their overall giving, while the real value lies in deepening the relationship, inviting others into the mission, and reinforcing why they give. The MGO’s focus stays on the donor, not logistics, with timely, meaningful follow-up after the event.

Event donors give primarily because of the event itself, and that’s not a failure. Many effectively underwrite the event, making broader engagement possible. A few may be ready to become mission-driven donors, but most will not, so be selective about where you invest time. Program the event to center the mission, tell stories with care and permission, and follow up quickly.

Attendees are usually guests with little prior connection. Most will never give, and that’s fine. The goal is to capture information, inspire them, and create the chance that one or two leave unexpectedly moved. Many committed donors can trace their first connection to an event they attended as a favor to a friend.

Prospects are individuals with capacity who need a thoughtful introduction. Events can work for that, but only with a plan. MGOs should stay focused on their caseloads, while development leaders, the CEO, and board members take the lead on cultivating these relationships intentionally.

The Real ROI Happens After the Event

Most non-profits fail at the most important part of events: follow-up.

Events are emotional experiences. That emotion fades quickly. If you wait a week to follow up, you have already lost momentum. Best practice is to connect within 24 to 48 hours. The most effective follow-up we have ever seen came from an MGO who had envelopes pre-addressed, messages drafted, and notes written the night of the event and mailed the next morning. It took effort, but the impact on donor relationships was extraordinary.

Yes, events are exhausting. That is precisely why follow-up must be planned in advance. The magic happens after the room empties.

A Cautionary Tale

We once worked with an organization where a Major Gift Officer was responsible for both a caseload and a full slate of events. Nine different events were held in a single year. The highest net revenue from any one event was $2,900. The worst lost more than $6,000. The total annual net gain was $5,741.

When staff time, executive involvement, and operating costs were added, the program cost the organization more than $219,000 a year.

This was not a strategy. It was drift. Events were treated as major gifts work, resources were wasted, and leadership allowed activity to replace accountability.

Use Events with Discipline

Events can support your fundraising, but only when they are limited, intentional, and fully integrated into donor strategy. They should never replace relationship-based fundraising, and they should never consume your major gift team.

If you lead an organization, resist the temptation to rely on events as a revenue shortcut. If you are a Major Gift Officer being pulled into event logistics, advocate for your donors and your role. And if you are going to hold events, do them with discipline, clarity, and a relentless focus on what happens next.

Sometimes, when events are done right, good things really do happen.

If you want a deeper look at the true cost of events and how to evaluate their return honestly, download our free white paper on this topic. It will help you make smarter decisions, protect your team’s time, and get the best possible ROI from every event you choose to hold.