Parade College is a member of the national body of Catholic schools known as Edmund Rice Education Australia (EREA). Parade College, in common with these schools, takes its inspiration from Br Edmund Rice, founder of the Christian Brothers. The values of the College are enshrined in the Charter for Edmund Rice Schools, and in the College Mission Statement.

The College programs and teaching approaches support and promote the principles and practice of Australian democracy, including a commitment to elected Government, the rule of law, equal rights for all before the law, freedom of religion, freedom of speech and association, and the values of openness and tolerance.

The College aims to help young men grow into well rounded individuals who will make a meaningful contribution to society. In a vibrant learning community, students are encouraged to explore and develop their talents to the fullest and aim for excellence in all endeavours.

Our young men are challenged to achieve as highly as possible in their academic studies as they discern the appropriate pathway to their future ambitions. They are also encouraged through the various co-curricular offerings to grow into people of good heart who have healthy self-respect, who value right relationships with other people, and who can offer themselves in service to the needy and marginalised people in our society.

With long experience in responding to the particular educational needs of young men, the College offers many opportunities for growth through its sports programs, cultural activities, service to the community, retreats and liturgies, outdoor education etc. These in turn provide many leadership opportunities.

The pioneer Brothers commenced their education work in 1868 in the hall behind St Francis Church in the city while the site for a permanent school was found and a building constructed. In January 1871 students moved to the new site in Victoria Parade, East Melbourne and the College was officially established. In the 1960s the pressure of numbers gave rise to a search for a new site and in 1968 the College moved to its present expansive site in Bundoora. In 2009 the College embraced a second campus in Preston.