Tuesday, August 1, 2017
Rockefeller Foundation Backs Nonprofit ETF Startup
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.
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.
ETFs give investors the ability to buy a basket of stocks or other assets with a single trade. Many of the funds track a broad market index, rather than trying to outperform. . .