Last week, Collins became the first active player in any of four major U.S. professional sports leagues to come out as gay. President Barack Obama called the 34-year-old athlete the same day to congratulate him and tell him he was proud of his courage.
The DNC says first lady Michelle Obama will also attend the May 29 fundraiser in New York. Tickets start at $1,250 per person and go up to $32,400 per couple to chair the event.
The DNC included a call to legalize same-sex marriage in the party's convention platform last year.
Collins has played for six teams in 12 seasons and is now a free agent.