Randall's widow, Heather Randall, administers the fund, which recognizes the work of "passionate, resourceful theater companies," by spreading thousands of dollars in financial support among several theatre companies. In prior years, the $100,000 Randall grant was awarded annually to one non-profit theatre company that focused on classic or classic-inspired work.

Receiving general operation grants are the Civilians, Classic Stage Company, Elevator Repair Service, Epic Theatre Ensemble, the Lark Play Development Company, Rattlestick Playwrights Theater, Repertorio Español, Signature Theatre Company, SITI Company and Soho Rep.

ERS, Civilians, SITI, Rattlestick and Soho Rep are recognized for their "innovative, artist-driven work for the next generation of theater-goers"; while ETE is honored for its arts education throughout New York City; the Lark for nurturing the work of new playwrights; and CSC, Repertorio Español and Signature for continued artistic excellence.

Randall's widow created the fund when Randall passed away in 2004. The National Actors Theatre, which Tony Randall founded in 1991, presented over 20 productions of classical works on Broadway and Off-Broadway.

For further information on the Tony Randall Theatrical Fund, visit TonyRandallTheatricalFund.