The Morgan Hill Mushroom Mardi Gras, Inc., is a non-profit organization, chartered in 1980. The event is a fully volunteer organization with no full or part time staff. The expressed objective of the event is to generate funds to provide scholarships for area youth for the continuation of their education. Many local non profit organizations also participate in the event. Funds they raise are used to support their programs.

The Annual Mushroom Mardi Gras is held on Saturday and Sunday of the Memorial Day Weekend in May. The event is held at the Morgan Hill Community Park.The Board of Directors has established an endowment scholarship fund. Any donations made expressly for the scholarship fund goes directly to that account.