An unfair distribution of material and non-material access and opportunity resulting in outcome and experience differences that are predictable by race, socioeconomic status, gender identity, home language, or other dimensions of identity.
A commitment to action: the process of redistributing access and opportunity to be fair and just.
A way of being: the state of being free of bias, discrimination, and identity-predictable outcomes and experiences.
I really like those definitions of equity and inequity from the Equity Literacy Institute. They are a structurally aware call to action to relieve minority stress.