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Rockefeller Foundation backs nonprofit ETF startup
by Trevor Hunnicutt
Reuters Translate This Article
1 August 2017
On 1 August 2017 Reuters reported:
The Rockefeller Foundation is helping to finance a startup hoping to build exchange-traded funds for nonprofit organizations and direct the profits back to their causes, officials from the group said with a plan to announce the initiative later on Tuesday [1 August]. The foundation awarded a $300,000 grant to Impact Shares Corp, a Dallas-area organization that aims to offer charities the ability to create ETFs that will be sold to the public. The goal is to create a fund that will perform roughly in line with the broader market, according to Impact Shares founder Ethan Powell.
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