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Rockefeller Foundation seeds ETFs created by non-profits

Exchange-traded funds, or ETFs, are bundles of stocks that trade in the public markets. Most track a specific stock market index.

Rockefeller Foundation is putting up a $300,000 grant to Impact Shares, based in Dallas, to let non-profit organizations create their own ETFs.

Organizations would identify company stocks that are important to their missions — veterans’ organizations might select companies committed to hiring vets, for example — and bundle them into an ETF.

Impact Shares’ goal is to find a major nonprofit for every social issue. “If you really can organize corporate America around specific causes then you can make a meaningful difference,” says founder Ethan Powell.

Socially-responsible ETFs are growing as an investment option: ETFdb lists 38 socially-responsible ETFs in its database.

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