1. A person who presides over a formal event, especially a dinner or banquet, and introduces speakers and calls upon guests to make toasts.
This is the most common usage. The toastmaster is essentially the master of ceremonies for the event. They are responsible for setting the tone, keeping the event running smoothly, and ensuring that all the guests are enjoying themselves.
2. A member of Toastmasters International, a non-profit educational organization that teaches public speaking and leadership skills.
In this context, "toastmaster" is a general term referring to anyone who is a member of Toastmasters International. While Toastmasters do often practice giving toasts, it's a much broader term encompassing their overall training and skill development.
So, when you hear "toastmaster," it's important to consider the context to understand the intended meaning.