Memorial Day, which will be celebrated on Monday, May 29 this year, is one of the most important holidays in the American calendar. Observed annually on the last Monday of the month, it honors the men and women who have died while serving in the United States Armed Forces. Though the tradition is believed to have been started by local communities in the late 1800’s, the first official Memorial Day celebration is credited to Waterloo, New York. On May 5, 1866, the town’s residents organized a community-wide event to pay respects to perished soldiers by decorating their graves with flowers and flags.