PHILADELPHIA (CBS) – New Years Day will be the third year in a row where there is no prize money for winners of the Mummers parade. An effort is underway to raise funds so that the prize can be re-instated for the 2012 parade.

Saturday is the 111th Mummers parade and in its history there was no parade in 1919 due to World War I and in 1934 due to the depression.
The past two years there was a parade but no prize money due to the city’s economic woes.

“For example, the first prize string band used to get $9,800 as a prize if they won first prize. Second prize string band was less and so on,” says George Badey, head of fund.

“It costs somewhere between $150,000-$200,000 to put a string band on the street so it doesn’t really pay for it but it does help a little bit and it is sort of a recognition.”

The organization is excepting donations to keep the mummers tradition alive in the future and to reinstate the prize money for 2012.

Reported By John McDevitt, KYW Newsradio.

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