But time and again, special events seem to lend themselves to a special kind of nonprofit "magical thinking":
"If we throw a really fabulous party" ...
"If we get just the perfect auction prize" ...
"If Oprah serves as our honorary benefit chair"...
"If Janet Jackson shows up to sing" ...
"If people learn we're celebrating 50 years of service" ...
....then we'll sell hundreds of tickets/dozens of tables/secure a big name sponsor that will bring us to our (probably inflated), nice round-number of a goal.

Unfortunately, it doesn't work that way. And this kind of magical thinking keeps event planners (board members, committee chairs, staff) from taking the hard steps necessary to realize the kind of revenue that might actually be raised - not just this year, but over time.
What's at stake?
First, why people don't come to nonprofit special events.
Fabulous Party - most likely, for the same ticket price as our nonprofit fundraiser, someone could throw a pretty swanky gathering at a very nice place, even in New York City. That's why nonprofit events are fundraisers, in fact - because we hope to pocket some of the dollars raised (hopefully at least 50%!) for our causes.
That Very Special Auction Prize - again, if someone has $1,000 burning a hole in their pocket, they can order an Apple Watch more easily than keeping an eye on the bidding at your event. Sure, we can put together "priceless" packages assembled from their connections, but realistically, that's not why someone will reserve a Thursday evening in June for us.
A Chair in Name Only - event chairs who lend only their name but not their energy are great and may get some people to open the invitation ("Oh look, Oprah thinks this is a worthwhile cause") but it is not likely to sell many tickets. People understand that it's a meaningful gesture - but not a heartfelt commitment (and you won't likely see those big names at the event!)

Janet Jackson - that hypothetical someone with $1,000 to burn is likely to be able to get box seats at the Barclay Center, or in other ways buy their way into the circles in which they want to socialize or network.
The Big 5-0 -Anniversaries are important to you, and to the people for whom your organization already matters. Sure, people will raise their gift level for an anniversary year if they were already planning to attend, and you may get some beyond-the-usual attendees (based on the fact that they don't have to come back for another 5-10 years), but an anniversary celebration in and of itself is not a draw if a connection's not already there. 28,000 nonprofits in New York have anniversaries, and yours is likely among dozens of anniversary invites received by a single event-goer in one year.
What's the Real Reason?
If people don't come to events for all the reasons mentioned above (plus the fact that we live in New York City, where there are 100+ incredible (often free) things to do on a given Thursday including relaxing at home); what does get them out of their loungewear and into your seats?
Obligation and Commitment - to those who invite them, and/or to your cause. Of course, any of the factors mentioned above can help someone fulfill this social contract more or less joyfully - but, really, it's who invited them that's the single most critical factor in filling your room with paying guests.
What's the Answer?
Building up your core of inviters - and putting the pieces in place so they're inspired, even driven, to reach out for you - is the key to increasing the take from special events.
A motivated honoree, workhorse committee chairs (focused
not just on the menu but dollars in the coffers and the right people in the room), enthusiastic committee members, pull-out-the-stops board members - can all turn a disappointing result into a reason to pull out the champagne at the end of the night. (See Get Them Asking! Emboldening Your Event Solicitors Tip Sheet for some suggestions on how to motivate askers to greater heights.)
People, people, people. Events are inextricably based on social connections being called upon for your cause. That's the bottom line.
Even securing spiffy auction items - so often a distraction for committed volunteers - doesn't do the trick unless you have people in place who can and are primed to bid.
Of course, there are exceptions to every rule, and nonprofits excel at thinking they will always be the exception (but our cause is so important!). And of course it is - but that is not what fills seats. Time and again, who does your inviting has proven to be the most significant aspect in transforming an event from a repeat of last year (or worse) to the game-changer your organization deserves.
If you concentrate on building that - they will come.