The mission of the 500 festival is to produce life-enriching events and programs that celebrate the spirit and legacy of the indianapolis 500 and foster a positive impact on the city of indianapolis and state of indiana.

The 500 festival:promote civic and community pride in indianapolis by sponsoring and presenting events in connection with the annual indianapolis 500 race. Included in the events are the 500 festival parade, which is conducted annually before approximately 300,000 spectators, a black tie ball, and the 500 festival mini marathon, a 13. 1 mile footrace over the streets of indianapolis which has approximately 35,000 participants.