Although the use of planned events for achieving community development has received academic attention from different disciplines, the findings of these literatures are not systematically used towards developing a common understanding aimed at fostering their social utility. The challenge then is to study from an integrated inter-disciplinary perspective how the social value of events can be fostered and leveraged for community development. In addressing this challenge, the purpose of this conceptual paper is to shed light on the multi-layered processes that foster the social utility of events. To this end, the theoretical tenets of social leverage, event dramaturgy and social capital are employed and integrated. On this basis, a conceptual framework linking event processes and outcomes is proposed aimed to guide future inter-disciplinary research towards strategically incorporating events in community development. This line of research can eventually help create synergies between different event genres and implement joint social leveraging strategies, hence, fostering and magnifying their overall social utility for host communities.