Small wedding reception?

My fiance want to keep our reception relatively small, 50 maybe 75 people. We're inviting people from both our congregations and family from out of town to hear the wedding talk and the reciting of our vows. But we need to cut down on the money spent so we're only inviting close family and very close friends to the reception. How can i help people not to get mad or feel left out? I know i can't please everyone but i can try to explain somehow.