The pair have been friends for decades and co-starred in the 1992 baseball dramedy, A League of Their Own.
Broadcast journalist Anderson Cooper also helped pay tribute to Madonna.
As she accepted the Advocate for Change Award, the 60-year-old, music icon recalled feeling like an outsider as a young woman, finding acceptance in the gay community and watching her friends fall to illness or abuse.
"After I lost my best friend and roommate Martin Burgoyne and then Keith Haring -- Happy Birthday, Keith -- I decided to take up the bullhorn and really fight back," Madonna said about why she is an LGBT advocate.
She also said she is glad her 1991 documentary Truth or Dare inspired gay men to come out: "And be free and take a stand and say, 'This is who I am. Like it or not.'"
Drag queen and TV personality Shangela hosted the event, which celebrates the LGBT community and its contributions.