One of the Derby Festival's oldest and most anticipated events is the American Founders Bank Fillies Derby Ball, to be held Friday, April 15, 2011 at the Galt House East Grand Ballroom. This event caps the opening day of the Derby Festival and is a prelude to two weeks of exciting activities.

The highlight of the Derby Ball is the coronation of the Derby Festival Queen, to be selected by the traditional spin-of-the wheel. Jenny Jacob, 2011 Fillies President, will do the honors. In her first royal act, the Queen will "knight" individuals to the Court of the Pegasus for their contributions to the community.