The annual "McCarthy's Party" began in 1986 at Joe's Bar (in his basement), which he built by hand a few years earlier. St. Patrick's Day was a time to celebrate his Irish heritage. Joe would invited one and all to join him in celebrating.....and what better way, than with a party!  Over the years, the crowds attending the annual event grew too large for the basement bar and Joe was forced to move the party to a function hall. Joe's philosophy about the holiday also changed. "A holiday of such great importance called for more than just a day of celebration". And so, "St. Patrick's Month" became the new tradition. On the eve of Joe's death, he, his wife Evelyn, and his daughter Terri were going over plans for the 2009 party, which was scheduled for the last Saturday in March to "close-out" the St. Patrick's Month's celebration. Joe took ill and passed away the following day. His family decided to cancel the party as planned and bring it back to the bar where it began. On March 17, 2009, family and friends gathered at Joe's Bar to celebrate St. Patrick's Day and remember the man who had started it all. On every hour, at 17 minutes past, a bell was rung and a toast was made to "Jameson Joe".

Beginning in March 2010, a new tradition was born. On the last Saturday of March, a benefit McCarthy's Party is held to "close-out" the St. Patrick's month celebration and honor the memory of Joe McCarthy. All proceeds from the event will go to support the Joseph A McCarthy Memorial Scholarship Fund.