During the event, Obama will give a speech, mingle and pose for pictures, The Boston Globe reported.
The fundraiser, proceeds of which go to the Obama Victory Fund, will be the first lady's fourth campaign event in the past week. Earlier Friday, she was in Concord, N.H., promoting her initiative to fight childhood obesity.
Some historians and political observers have compared Obama to Eleanor Roosevelt for her support of universal healthcare and other causes.
"She has a view of the world that is all about equity and fairness, and when she sees any violation of those values, she reacts with passion,'' said Philip Johnston, former chairman of the Massachusetts Democratic Party. "She is a progressive and she feels the government should be there for poor people, for children, for people of color, and for women.''
Swim Week Miami Beach 2014 [PHOTOS]