Podcast Summary: The Fundraising Masterminds Podcast

Episode 103: 5 Reasons Your Annual Fundraising Banquet is Outdated (and How to Fix It)
Date: September 24, 2025
Hosts: Jason Galasinski (A) and Jim Dempsey (B)

Episode Overview

In this episode, Jason Galasinski and Jim Dempsey break down why the traditional annual fundraising banquet model is considered outdated — even if it still “works” on the surface. Drawing on their experiences helping over 5,000 nonprofits raise more than $2 billion globally, the hosts unpack five core reasons why annual banquets often miss the mark. Most importantly, they offer practical, proven strategies for transforming these events into powerful, vision-driven opportunities that multiply both financial and relational impact.

The tone is direct, relatable, and peppered with real-world stories, bold statements, and encouragement for nonprofit leaders ready to leave old habits in the dust.

Key Discussion Points and Insights

1. You Have the Wrong Mindset (03:02–08:54)

• Banquets Are Treated as Fundraisers, Not "Friendraisers"

  • Many nonprofits view the event only as a way to solicit money, not as a transformative experience that builds deeper, mission-focused partnerships.
  • Focus should shift from “getting into people’s wallets” to “getting into their hearts.”

• Quote:
  "You're treating this event like a fundraiser and not as a friend raising event... when you focus on people's pocketbook, they're going to see right through that and they're going to believe that you just care for them, for their money, and that you're treating them like an ATM."
  — Jim Dempsey, [03:05]

• Banquets Rely Too Heavily on Tradition

  • Many organizations keep doing annual events because “it’s just what we do” and are boxed in by the expectation of replicating past years rather than pursuing growth and new partners.

• Shift the Vision:

  • The perfect banquet (Vision Dinner) is designed to win new partners — not just cultivate old ones.
  • “If you were using social media...maybe 10, 15, 20 new donors a year; a vision dinner gets you 100–150 in one night.” ([07:00])

2. You’re Not Getting the Right People in the Room (08:55–17:57)

• Low ROI Tables Point to a Deeper Problem

  • If a table of 10 brings in just $100 or $150, the wrong guests are being invited.

• Compelling Data:

  • "Our national average is about $4,000 per table. In recent classes, we've actually been getting closer to $6,000." — Jason Galasinski, [09:29]

• Find the “Shark Tank” Types

  • There are donors eager to invest meaningfully, but they seek opportunities for high impact—not just another $50 ticket or a ceremonial table.

• Tradition vs. Growth

  • Awards, volunteer recognitions, and ministry updates may keep existing supporters happy, but do little to attract, inspire, or challenge new high-capacity partners.
    • "Tradition has really trumped growth... Banquets based on tradition feel outdated. You're in a routine and you're not in a movement." — Jason, [14:06]

• Building a Movement

  • Sustained growth happens by multiplying partners and consistently introducing new donors to the cause.

3. You’re Doing Things Too Cheap (17:58–23:24)

• Cheap Events Do Not Impress the Right Guests

  • Cost-cutting on venues, meals, and décor signals mediocrity, not vision or stewardship.
  • Upscale events are necessary to attract and honor high-capacity givers.

• Quote:
  "You're not going to attract new people by just having this cheap event where you have a buffet and you serve your meal on paper plates and paper tablecloths and paper utensils. Those kinds of things are not going to get you a winning dinner."
  — Jim Dempsey, [19:08]

• Investment Pays Multiples

  • A better venue might cost $2-3k more, but could easily result in $20–30k more raised.
  • Real example: “We raised $7 million at [a Ritz Carlton event] — $100,000 for the venue was a drop in the bucket.” ([23:06])

4. You Have No Compelling Vision (23:35–28:53)

• Stop Talking About “Needs” — Start Sharing Opportunities

  • Updates on facilities or needs (carpet, bookshelves) do not excite; outcomes and life-change do.
  • Investors (and donors) care most about impact and results, not incremental improvements.

• Quote:
  "There's a big difference between needs and opportunities. All those things you mentioned were needs. They're not opportunities."
  — Jim Dempsey, [25:57]

• You Need a Tangible Giving Goal

  • Not setting a clear goal signals lack of vision and limits giving (“people give according to what you expect”).
  • "Give me a finish line and I'll get there... you give me a goal and I'll shoot for it." — Jim Dempsey, [28:39]

5. You Don’t Lead People to a “Holy Moment” (Controversial) (28:54–36:58)

• Beyond Pre-Written Checks: Creating Spiritual Engagement

  • The ideal is to create an atmosphere where guests are genuinely moved to ask, “Lord, what would you have me give?”
  • This means moving guests out of autopilot giving and into prayerful, sacrificial generosity.

• Creating a Climax for Spiritual Decision

  • Vision dinners are carefully designed to bring people to an emotional and spiritual crossroads regarding their giving.

• Memorable Example:
  "We had couples huddling in corners... they were truly seeking sacrificial gifts to make. So it's when people get beyond just what am I, what do I currently make? Or what is just a nice token gift, but it's really trusting God for something big. And that is when you... reach that holy moment."
  — Jim Dempsey, [32:01]

• Testimonial:

  • A director shared how the process not only raised substantial money, but also led to “a personal revival... it forced her into a dependence on God, rather than ‘I've got to make this happen’.” ([35:51])

Five Reasons Your Banquet is Outdated — and How to Fix Them

1. Wrong Mindset: Focus on friend-raising, not just fundraising. > Shift from tradition/replication to growth and impact.
2. Wrong People: Pursue new, high-capacity partners and multiply your network. > Don't just honor existing ones.
3. Too Cheap: Invest in quality venues and experiences. > High-caliber events attract high-caliber partners.
4. No Compelling Vision: Share outcomes and opportunities, not just updates or needs. > Always set a clear, ambitious goal.
5. No Holy Moment: Facilitate a spiritually significant giving moment. > Invite guests to prayerfully consider their largest, most impactful gift.

Notable Quotes & Memorable Moments

• "If you haven't given [the right people] a good reason to write a $25,000 or a $50,000 check, they're just going to pass on it." — Jim Dempsey, [12:27]
• “Our partners seem to feel like ATMs when we are mistreating them and we are not loving them or caring about them. And that's the last thing we want to do.” — Jim Dempsey, [03:05]
• “Celebration, volunteer recognition, and tradition are not bad—but they're not the same as a compelling vision.” — Paraphrased, [08:03–13:39]
• “People give according to what you expect.” — Jason Galasinski, [28:27]
• "Let people pause, pray, and really seek God for their gift. That's when you see move-the-needle giving.” — Paraphrased, [31:30–33:41]

Practical Fixes: The Perfect Vision Dinner Model (17:57–36:58, 38:22)

• The hosts emphasize a replicable formula: right mindset, new high-potential attendees, quality venue, compelling vision/goal, and facilitating a spiritually authentic giving moment.
• They offer a mentorship program (with proven results — most participants raise $100k+ their first year), to help leaders execute this strategy step by step.
• The process isn’t just about raising money, but fosters personal and collective spiritual growth.

For Listeners Looking to Transform Their Fundraising

• Be ready to rethink foundational assumptions about annual fundraising events.
• Adopt a winning, growth-centered mindset.
• Prioritize attracting new, high-potential supporters.
• Invest in the “wow” factor at every level.
• Craft a bold, compelling, mission-driven ask—and let guests experience a holy moment in their giving.

Timestamps for Key Segments

• [03:02] – Mindset shift: From fundraiser to friend-raiser
• [08:55] – Getting the right people in the room; multiplying, not just replicating
• [17:58] – Why cheap events cost you more in the long run
• [23:35] – The importance of a compelling vision and explicit goals
• [28:54] – Facilitating a “holy moment” for sacrificial, spirit-led giving
• [32:01] – Real-life stories of spiritual engagement and unexpected generosity

Final Thoughts

• Traditional annual banquets can be effective—but only up to a point.
• True growth, both in funding and mission, requires reimagining every aspect of your event.
• The Perfect Vision Dinner model outlined by the hosts is a tested, holistic strategy aimed at maximizing not only dollars raised, but lives and organizations transformed.

Useful for nonprofit leaders who want to break the status quo and step fully into a sustainable, high-growth model of fundraising.