The Foundation’s most public activity each year is organizing New York City’s Columbus Celebration, including the Columbus Day Parade, which is the largest celebration of Christopher Columbus’s historic voyage and of Italian-American heritage and achievement in the world. The Foundation organizes New York City's annual Columbus Celebration and Columbus Day Parade, which has celebrated Italian-American heritage on New York's Fifth Avenue since 1929. The Foundation is made up of nearly 600 members who are of Italian ancestry and are grateful for the opportunities their parents, grandparents and great-grandparents found as immigrants to the United States. The Foundation, through a broad range of philanthropic and cultural activities, provides opportunities for advancement to deserving Italian-American students through various scholarship and grant programs.