My 2 cents...
99% of lodge activities should be funded by dues, including meals, building upkeep, lodge library, candidate materials, presenter costs, etc. Dues should be high enough to support that, but not above. New candidates should be told that masonry has a price tag and part of the IC should be to determine if the candidate can swing that price comfortably. Endowments are not meant to be a replacement for paying yearly dues; an endowment is a gift to the lodge for after you pass on or in the event you can no longer afford dues either short or long term. Those who can comfortably afford dues should pay them (with or without endowment). Fundraisers are for that 1% of unforeseen activities of the lodge that regular finances don't really fit into (a trip to DC to see the HotT, etc) and are ad hoc rather than regular.
I believe that if something is cheap, it can be (and often is) perceived as being cheap. Artificially low dues give masonry the appearance of not being important or significant. Artificially high, well... your membership will find lodges elsewhere quick, hah. A quick bit of math suggests that my lodge's yearly dues equate roughly to under 25 cents a day. Masonry is worth more than that to me, personally. A meal kitty typically means that a few support a lot of others that don't contribute and that is unfair. (EDIT: an example, supposing a dues paying membership of, say, 100 and an average meal cost of $75, one meal per month. A $9 raise in every member's yearly dues would provide a meal for EVERY member every month. The Stewards have an exact budget, no kitty, no coming up short. Shoot, I pay more than that for one meal in the kitty... Member's don't wanna pay the extra? It's already proven cheaper to their wallets by simple math if they come. They don't come? Send out a newsletter saying you missed them. Send out a menu for the next meal. Attract your members back!) I also wonder that if members knew they were already contributing to a meal and they had one waiting for them, if they wouldn't show up more often... On the topic of members who fall on hard times and have not purchased an endowment: part of the yearly dues should be to keep a fund for such a thing... a "scholarship" if you will to get the brother(s) by.
So all that said, I don't have a problem with fundraisers, but I feel they should be a rarity as should passing the hat scenarios. They're fine in a pinch and for a purpose, but by no means a regular calendar item. To the point, if you require fundraisers to fund *regular* activities, your dues are too low. If your membership cannot afford dues to fund your regular activities, then your lodge is not financially sustainable; make cuts appropriately. Off the cuff activities that aren't necessarily foreseen usually require quick funding and fundraisers fit the bill nicely.