The Gold Cup and Saucer Race (1960) and The Gold Cup Parade (1962) were founded by Frank Acorn and Bill Hancox for the purpose of:
- reviving Old Home Week which, prior to 1960, was beginning to lose audience appeal
- to focus attention on P.E.I.’s harness racing industry, while providing an exciting type of entertainment for both Islanders and summer visitors
The Parade has been held every year since that time, and has become one of the feature events of the summer season on the Island.
In the early days, the organization was a loosely knit group of businessman who assisted the Charlottetown Driving Park in putting together the parade. But as the parade grew, it became a totally separate organization with the sole purpose of presenting the Gold Cup Parade as one of the premier events of Old Home Week. In 1986, the group incorporated as a not for profit company under the name The Charlottetown Parade Committee Inc. and owns the name The Gold Cup Parade.
The organization is currently run by a volunteer board of directors from local businesses. The 2016 Chairman is Mr. Ray Murphy of Murphy’s Pharmacies.