Philanthropy and social impact are constantly evolving, but there’s one thing that has not changed in decades: Fundraising campaigns must be truly authentic to a brand’s ethos to create lasting impact.
This was the central lesson at the 2026 Social Impact Summit x NYC, an afternoon conference celebrating charitable giving in the fashion and beauty industries, held in FIT’s Haft Theater on March 30.
The invitation-only event brought together more than 700 fashion and beauty executives, designers, FIT students and alumni, and advocates committed to advancing equity, sustainability, and meaningful change. It was hosted by the Social Impact Fund, an organization that acts as a fiscal sponsor for a range of nonprofits, and the FIT Foundation.
Kenneth Cole and Selena Gomez were honored for their commitment to giving back. Cole received an Excellence in Fashion Philanthropy award for his Mental Health Coalition, founded in 2020, which aims to end stigma surrounding mental illness. Cole has been using his platform since the ’80s to destigmatize HIV/AIDS and support LGBTQ rights.
“I feel that social impact isn’t what we do, it’s part of who we are,” Cole said while receiving the award. “It’s embedded in the business model.”
Selena Gomez was honored with an Excellence in Beauty Philanthropy award for her work in expanding mental health resources for young people through the Rare Impact Fund. From its inception, Gomez’s company Rare Beauty has set aside 1% of proceeds, $30 million so far, for the fund. Elyse Cohen, chief impact officer of Rare Beauty and president of the Rare Impact Fund, accepted the award on Gomez’s behalf.
“For me, success is that people come to this business and know it not just for its products but for its mission,” Cohen said.
Panelists at the summit included Nicola Formichetti, senior vice president and global creative director at MAC Cosmetics; Corey Smith, vice president, Diversity and Inclusion and Academic Relations for LVMH; and Jillian Mercado, Fashion Merchandising Management ’10, model, actress, and disability rights advocate.
Mercado offered advice to companies looking to promote their social impact efforts: “When I do go into a room, I look at the reason why they hired me. Is it my disability? Is it myself being Latina? Is it my queerness? Is it being a woman? Usually something is missing. They’re only picking one side of me and not all of me. If you’re going to hire me, pick me as a whole person.”
The summit’s media partner, The Hollywood Reporter, has posted video coverage of the event as well as additional coverage on its website.