The Theatre Authority was founded in 1934 as "...a non-profit regulatory organization representing the professional actors' unions, charitable actors' guilds and others. It is the clearinghouse for all benefits, telethons and fund-raising events which wish to use the talents of professional performers" (Memo from Theatre Authority, "A Sponsor's Guide, 1981). The Authority grew out of a concern on the part of several stars over the legitimacy and financial respectability of organizations that requested their services.

The Theatre Authority provides clearances for members of the unions of the 4As (Associated Actors and Artistes of America) to participate in fundraisers (such as benefits or telethons). The organization determines if the beneficiaries are legitimate, regulates scheduling, and monitors unfair demands on union members during fundraisers.

The Executive Committee consisted of representatives from the American Federation of Television and Radio Artists, American Guild of Musical Artists, American Guild of Variety Artists, Actors' Equity Association, and the Screen Actors Guild. In the 2000s, administration of the organization was taken over by Actors' Equity. Prior to 2014, Theatre Authority had two offices: Theatre Authority West administered clearances West of Omaha, Nebraska and Theatre Authority, Inc. administered East of Omaha.

Other organizations represented on the Board of Directors were the Actors Fund of America, Authors League Fund, Catholic Actors Guild, League of New York Theatres and Producers, and the Negro Actors Guild.

Presidents of the Theatre Authority include: Conrad Nagel (founder, 1934-?), Sidney Blackmere, Ed Sullivan, Paul Dulizell (1942-1960), Beverly Roberts (1954-1977), Harold Hoffman (1977-?).