Shiva (Lord Shiva) + ratri (night), so Shivaratri means the night of Lord Shiva. Devotees of Lord Shiva generally observe a strict fast on this day and some go to the extent of a nirjal fast i.e. they do not even have a sip of water.
Srimad Bhagavatam (S.B) (12.13.16) states vaisnavanam yatha sambhu i.e. Lord Shiva is the best of the Vaishnavas, the devotee of Lord Krishna, our Gaudiya vaishnavas however worship Lord Shiva on this day in order to receive His blessings to become a better devotee of Lord Krishna (Vishnu) and not to attain residence in the abode of Shiva.
Schedule
4:00pm Shiva Linga Abhishek
4:15pm Aarti
5:00pm Class on Glorious of Lord Shiva
6:00pm Prasadam