The Smokey Joe's Café Tony nominee and current star of Broadway's Chicago will host the 8 PM benefit at BBraxton, her upscale Harlem men's salon. Attendees can watch the earlier broadcast of Obama's inauguration and enjoy hors d'oeuvres, cocktails and a celebrity DJ.

Tony-winning Spring Awakening producer Tamara Tunie serves as creative consultant for the New York inaugural gala. All proceeds will benefit the Actors' Fund of America and the Columbia Community Service program of Columbia University, Obama's alma mater.

"This is a truly momentous occasion in American history," said Braxton in a statement. "To witness the inauguration of the first African-American President is something that millions of Americans and countless New Yorkers could never have envisioned. And in that respect, we've decided to hold the event at BBraxton in order to make it an all-inclusive celebration.

"The Obama/Biden campaign was funded by four million people who all gave what they could afford to give, so it's fitting that this inaugural celebration be equally affordable for everyone. And at the same time, all monies raised will be donated to these two amazing charities - The Actors' Fund and Columbia Community Service."

Tickets, priced $50, are available by visiting BBraxton, or by phoning (212) 369-3094. BBraxton is located at 400 Fifth Avenue at West 116th Street in Harlem.