The program's founder, Maggie Daley, was joined by Chicago Mayor Rahm Emanuel.
After School Matters offers public high school students opportunities in arts, science, sports, technology, and communication.
"This is a great combination of government and the private sector working together, and I am eternally grateful," said Maggie Daley at the event.
Wednesday's gala raised more than $2.8 million. After School Matters is celebrating its 20th anniversary this year.