500 Festival Associates, Inc. Nonprofit organization in charge of pre-race festivities for the Indianapolis 500. Events include the Mini-Marathon, 500 Festival Memorial Parade, and many others. Indianapolis 500 Festival Banners These colorful banners lined all the major avenues in the downtown area and were used to promote various events that are held prior to the running of the Indianapolis 500. Each of the five events is represented through an illustration and assigned a specific color, giving viewers a "rainbow" effect as they venture through the streets of Indianapolis. 1990 ADCI Award of Excellence - Art Directors Club of Indiana