NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, August 7, 2017

The first and only nonprofit exchange traded fund platform, Impact Shares, has secured an initial investment grant from The Rockefeller Foundation to partner with other nonprofits in plans to craft social issue-focused investment strategies later this year.

With a secured $300,000 grant from one of the nation’s foremost philanthropies, Impact Shares will be launching the first of its innovative social issue-related ETFs in late 2017, according to a note.

ETF industry veteran Ethan Powell of Impact Shares will partner with other nonprofits working toward social missions and direct all profits from its proposed suite of ETFs back to the partner nonprofit organizations.