Variety has unveiled its annual Youth Impact report.

The special coverage acknowledges young stars responsible for making waves on the business front.

SEE ALSO: Variety’s Youth Impact Report

Variety will also honor Jake T. Austin, Abigail Breslin, Nina Dobrev, Tyler Posey and Quvenzhané Wallis as honorees of its seventh annual Power of Youth gathering, set for July 27 at Universal Studios.

The Variety Power of Youth GenerationOn Award recognizes young stars who have made significant contributions to philanthropic or charitable causes.

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“Celebrating Hollywood’s most influential youth alongside the very people whose lives they’ve impacted is what makes this event so special,” said Variety publisher Michelle Sobrino. “These honorees, in partnership with their individual charities, are igniting change and leading their peers, fans and communities by example. Power of Youth shines a spotlight on these incredible leaders, and hopes to inspire future young entertainers to continue in their footsteps.”

SEE MORE: Variety’s Power of Youth Honorees: