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Russell Simmons and the Hip-Hop Summit Action Network will host an all-star fundraising dinner to recognize the outstanding work of various rappers and corporate executives on Monday (February 25).

The Fifth Annual Action Awards will recognize Snoop Dogg, Chris Lighty, Doug E. Fresh, Jim Jones, Ciara and Mellody Hobson of Ariel Capital Management for their dedication and commitment to their respective communities.

The awards, which will take place at Capitale in New York, will be Co-chaired by BET programming executive Stephen Hill and Disturbing Tha Peace Records’ CEO, Chaka Zulu.

“The HSAN Action Awards is an opportunity to recognize and celebrate the best of Hip-Hop and bring attention to the importance of people taking action to give back to our communities,” HSAN Chairman Russell Simmons told AllHiphop.com. “This year’s honorees all have given back their time, money and energy to help improve the quality of life of all people and HSAN is proud to honor each of them with the 2008 Action Award.”

Others taking part in the event including HSAN’s Executive Director Valeisha Butterfield, Monami Entertainment CEO Mona Scott-Young, media personality Egypt, Pharrell Williams, Juelz Santana, Damon Dash, Chrisette Michele and others.

“Hip-Hop is about transformation,” added Dr. Benjamin Chavis, President and CEO of HSAN. “The 2008 Action Awards will be a festive celebration of the transformative impact of Hip-Hop culture in America and throughout the world.”

The Fifth Annual Action Awards starts at 6:30 PM.