Amusan, popularly known as Mr Latin, disclosed this during the opening ceremony of the Conference of Nigerian Arts and Films (CONAF) held in Abeokuta on Friday.
He said the era of going on social media to seek assistance for members in need was over.
The thespian said that the structure of the endowment fund was premised on strict contractual obligations and rules.
“The fund is to serve as rescue fund for the treatment of any of our ailing members, instead of exposing such and begging for assistance on social media,” he said.
Speaking on the conference, Amusan said it was aimed at creating exposure for budding talents, promoting creativity and engaging minds through capacity building and sharing new knowledge.
He said that it was important to tackle challenges of making films with good content that would become a tangible asset to sufficiently sustain members’ royalty and income throughout their life time.
Amusan also welcomed Kunle Afolayan, an award winning movie producer, as a full time member into the association.
He described Afolayan as a goal getter and a professional to the core, saying he had contributed immensely to the growth and development of the film industry.
In his remarks, Afolayan appreciated TAMPAN for the great achievement so far, under the leadership of the president.
Afolayan explained that he had always wanted to contribute in his little way, saying the opportunity had now presented itself.
“I support the endowment fund with N500,000, and I want to say that there is a lot we can achieve as an association. All our veterans and fathers started as a group and they succeeded,” he said.
The News Agency of Nigeria (NAN) reports that movie veterans at the conference included, Jide Kosoko, Adebayo Salami (Oga Bello), Dele Odule, Tunbosun Odunsi, Yemi Solade, Fausat Balogun ( Madam Saje) , Ebun Oloyede (Olaiya Igwe) among others. (NAN) (www.nannews.ng)