The awards are presented by the American Theatre Wing and The Broadway League[2] at an annual ceremony in Manhattan.

The trophy consists of a spinnable medallion, with faces portraying an adaptation of the comedy and tragedy masks, mounted on a black base with a pewter swivel.

The award is for an individual who has made a "substantial contribution of volunteered time and effort on behalf of one or more humanitarian, social service or charitable organizations.

[9] The award was founded in 1947 by a committee of the American Theatre Wing (ATW), headed by Brock Pemberton.

The award is named after Antoinette Perry, nicknamed Tony, an actress, director, producer and co-founder of the American Theatre Wing, who died in 1946.

[14] The first prizes were "a scroll, cigarette lighter and articles of jewelry such as 14-carat gold compacts and bracelets for the women, and money clips for the men".

According to a June 2003 article in The New York Times: "What the Tony broadcast does have, say CBS officials, is an all-important demographic: rich and smart.

[20] The Tony Award medallion was designed by art director Herman Rosse and is a mix of mostly brass and a little bronze, with a nickel plating on the outside; a black acrylic glass base, and the nickel-plated pewter swivel.

Originally, the reverse side had a relief profile of Antoinette Perry; this later was changed to contain the winner's name, award category, production and year.

This change was implemented to make the award "feel more substantial" and easier to handle at the moment the award is presented to the winners, according to Howard Sherman, the executive director of the American Theatre Wing: We know the physical scale of the Oscars, Emmys and Grammys.

[4] The rule about "classic" productions was instituted by the Tony Award Administration Committee in 2002, and stated (in summary) "A play or musical that is determined ... to be a 'classic' or in the historical or popular repertoire shall not be eligible for an award in the Best Play or Best Musical Category but may be eligible in that appropriate Best Revival category.

"[27] Shows transferred from Off-Broadway or the West End are eligible as "new", as are productions based closely on films.

This rule has been the subject of some controversy, as some shows, such as Hedwig and the Angry Inch and Violet,[28] have been ruled ineligible for the "new" category, meaning that their authors did not have a chance to win the important awards of Best Play or Best Musical (or Best Score or Best Book for musicals).

The Tony Awards Administration Committee has twenty-four members: ten designated by the American Theatre Wing, ten by The Broadway League, and one each by the Dramatists Guild, Actors' Equity Association, United Scenic Artists and the Society of Stage Directors and Choreographers.

[32][33] That decision was changed, and members of the New York Drama Critics' Circle were invited to be Tony voters beginning in the 2010–2011 season.

[34] The eligible Tony voters include the board of directors and designated members of the advisory committee of the American Theatre Wing, members of the governing boards of Actors' Equity Association, the Dramatists Guild, the Society of Stage Directors and Choreographers, United Scenic Artists, and the Association of Theatrical Press Agents and Managers, members of the Theatrical Council of the Casting Society of America and voting members of The Broadway League (in 2000, what was then The League of American Theaters and Producers changed membership eligibility and Tony voting status from a lifetime honor to all above-the-title producers, to ones who had been active in the previous 10 years.

[38][39] While the theatre-going public may consider the Tony Awards to be the Oscars of live theatre, critics have suggested that the Tony Awards are primarily a promotional vehicle for a small number of large production companies and theatre owners in New York City.

Fellow nonbinary performer Justin David Sullivan withdrew from Tony consideration due to the gendered categories.