Impact Shares Gets $1M from Rockefeller Foundation

Friday, October 26, 2018

Impact Shares Gets $1M from Rockefeller Foundation

The Rockefeller Foundation has given a $1 million grant to Dallas-based Impact Shares, which says it is the first 501(c)(3) nonprofit exchange-traded fund (ETF). Impact Shares will use the money to expand its partnerships with leading nonprofits and transform its social values into products ripe for investment.

“The rise of impact investing, coupled with the growth in ETFs, opens the doors for organizations and charitable groups to generate more awareness about their causes, while creating an additional revenue stream that helps fuel their social missions,” Impact Shares CEO Ethan Powell said in a release.

The funding was awarded through the foundation’s Zero Gap innovative finance portfolio, and it highlights the potential for Impact Shares to engage retail investors in the socially responsible investing movement, according to Impact Shares. Earlier this year, Impact Shares successfully launched the Impact Shares NAACP Minority Empowerment ETF (NYSE: NACP), Impact Shares YWCA Women’s Empowerment ETF (NYSE: WOMN) and the Impact Shares Sustainable Development Goals Global Equity ETF (NYSE: SDGA) in partnership with the NAACP, YWCA and UNCDF, respectively....

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