The festival is a culmination of the dreams and contributions of long-time Philadelphia resident and philanthropist, Leonore Annenberg, who founded the Annenberg Foundation. This foundation has provided a grant to ensure that the festival can take place and that Annenberg's dream of a citywide arts celebration could be realized.

The the theme of the festival was inspired by the Kimmel Center and runs for three weeks, from April 7 to May 1, 2010. Executive director of PIFA, Ed Cambron, says that this is the first time the city has hosted such a huge selection of visual and performing arts that have been linked together via a common theme.