Misty Copeland, Megyn Kelly and Vera Wang round out the A-list lineup

Credit: Courtesy Variety Magazine

Once again, Variety will honor a slew of female celebrities for their philanthropic pursuits with its annual Power of Women issue – and PEOPLE has an exclusive first look at its starry 2016 collection of covers.

Misty Copeland, Megyn Kelly, Julianne Moore, Lupita Nyong’o and Vera Wang will appear on the annual special issue.

And on Friday, they – along with Mariska Hargitay, who will receive the KARMA Award from Karma Automotive for her Joyful Heart Foundation – will be honored at a luncheon in New York City, hosted by Billy Eichner and presented by Lifetime.

Record-breaking dancer Copeland, 33, became the first African American female principal dancer in the 75-year history of the American Ballet Theatre. She advocates for the American Ballet Theatre’s Project Plié, an initiative launched in 2013 to increase diversity in ballet companies and schools across the country.

The 45-year-old Fox News journalist is a proponent for Childhelp, a nonprofit aiming to help at-risk kids.

The Oscar winner, 55, is a vocal gun violence prevention advocate and supports Everytown for Gun Safety, which is aiming to enact public safety measures that respect the Second Amendment but save lives.

The Oscar-winning Twelve Years a Slave breakout, 33, works with Mother Health International, a nonprofit working to improve reproductive healthcare and reduce perinatal mortality in areas of disaster, war and extreme economic poverty.

Vera Wang

The iconic fashion designer, 66, will be honored for the Youth Anxiety Center, a clinical care and research organization that provides resources and treats anxiety disorders. (Wang co-founded the New York institution with fellow fashion innovators, including Vogue editor Anna Wintour and designer Tory Burch.)

Last year, the trade publication honored: Whoopi Goldberg, Rachel Weisz, Kim Kardashian West, Glenn Close and Lena Dunham.