NY Times: Rockefeller Foundation Backs Nonprofit ETF Startup

NEW YORK — 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.