The Footloose actor and his wife have also donated prizes to the event's auction, including a personalised voice mail by Bacon, to help raise funds for the Woodcraft Rangers, an organisation which provides after-school programs for at-risk kids in the Californian city.
Actress Gabourey Sidibe, who picked up an Oscar-nomination for her role as a troubled teen in 2009 movie Precious, will be honoured at the event for providing a positive role model to youngsters.
She says of the award, "I'm really proud to be honoured by Woodcraft Rangers. Being able to inspire teens is really important to me. I'm excited to be a part of this great evening."
Actor Dennis Haysbert will also be on hand to present an award to Eugene Brown, the founder of a youth chess club and subject of the 24 star's new film Life of A King.
Haysbert shared his excitement with fans in a post on Facebook.com, writing, "Excited to be presenting the award to Eugene Brown during the Woodcraft Rangers Celebration."
The gala, which marks the Woodcraft Rangers' 90th Anniversary celebrations, will be held at the La Plaza de Cultura y Artes in Los Angeles on 8 May (13) and will also feature a performance from Weezer rocker Scott Shriner.