The organization provides crisis intervention and suicide prevention services to lesbian, gay, bisexual, transgender and questioning teens and young adults.
Sarandon was honored for being an openly vocal ally for youth and increasing visibility and understanding of LGBTQ community. As an ally for LGBTQ people, Sarandon has supported the freedom to marry as well as funding for HIV/AIDS research and healthcare for patients, and has spoken out about homophobia in the media, the organization said.
"I'm very honored to get this award because The Trevor Project is there at the end of the line with a voice that tells you that you're not alone," Sarandon said. "It is up to us to somehow make it clear that being different is really fabulous."
MTV President Stephen Friedman accepted the Trevor 2020 Award for being a visionary organization that increases the visibility and understanding of LGBTQ issues, and supports the LGBTQ community.
"'Trevor Live' is where entertainment and cultural change collide. Not only do we get to enjoy a night of amazing talent and inspirational honorees, we get to stand in support of the young lesbian, gay, bisexual, transgender, queer and questioning youth for whom The Trevor Project is the one place they can turn to for support," said Abbe Land, executive director and chief executive officer of The Trevor Project.
2014: The Year in Music [PHOTOS]