In a recent release, Dallas-based Impact Shares, the first 501(c)(3) nonprofit exchange-traded fund (ETF) platform, announced it has secured an additional $1 million grant from The Rockefeller Foundation to expand its partnerships with leading nonprofits and help translate their social values into investable products.
Awarded through the foundation’s Zero Gap innovative finance portfolio, the additional funding from one of the nation’s foremost philanthropic organizations highlights the tremendous potential for Impact Shares to further engage retail investors in the socially responsible investing movement.
“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,” said Ethan Powell, CEO of Impact Shares.
“We are pleased with the interest and response from our existing partners thus far, and we are actively engaged in generating awareness and growth for them while continuing to work with other leading nonprofits to help them become ambassadors of their movements in the private sector and beyond.”
Impact Shares will donate the net advisory proceeds it receives from each fund it sponsors back to the collaborating partner nonprofit, creating meaningful engagement with corporate America and providing the investing public with more targeted and credible social-impact investing options.
“Through its Zero Gap innovative finance portfolio, The Rockefeller Foundation is proud to support Impact Shares in designing vehicles that help to mobilize private capital for social good—generating critical new streams of revenue for organizations committed to advancing the wellbeing of humanity,” said Saadia Madsbjerg, managing director at The Rockefeller Foundation.
ABOUT IMPACT SHARES
Impact Shares is an ETF issuer and Investment Manager that is creating a new and innovative platform for clients seeking maximum social impact with market returns. Impact Shares’ goal is to build a capital markets bridge between leading nonprofits, investors and corporate America to direct capital and social engagement on societal priorities. Impact Shares is a tax-exempt nonprofit organization under Section 501(c)(3) of the Internal Revenue Code. For more information about Impact Shares, visit impactetfs.org.