# Impact Shares

Impact Shares is an Asset Manager based in Dallas, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Dallas, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 2015
- **Assets under management:** Undisclosed
- **Website:** impactshares.com
- **LinkedIn:** https://www.linkedin.com/company/impact-shares

## Regulatory record

- **CRD number:** 282472
- **SEC file number:** 801-112391
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/282472

## About

Impact Shares provides investors with equity market proxies while investing consistently with established leaders in values based investing. We partner with foundations/religious denominations and socially responsible organizations to gather capital and deploy it in a manner to advance their organization's mission. The benefit to the organization is the additional capital to put to work influencing their policy area of interest more dramatically.

## Sectors

- ESG Investing
- Exchange Traded Funds
- Sustainable Investing

## People

- Ethan Powell — Founder & CEO
- Emily Chew — Chief ESG Officer

## Questions

### Who runs investment decisions at Impact Shares?

Founder and CEO Ethan Powell leads strategy. The firm's ETFs are based on indexes from third-party providers like Morningstar, with sector and ESG screens. Nonprofit advisory boards for each ETF review the screening methodology but do not make individual stock selections.

### How does Impact Shares’ fee structure support nonprofits?

Impact Shares ETFs charge a management fee from which a portion is donated to the partner nonprofit. For the YWCA Women's Empowerment ETF, a stated percentage of the fund's net assets is contributed to the YWCA annually. This structure aligns asset growth with charitable giving.

### What investment stages or asset classes does Impact Shares focus on?

Impact Shares exclusively offers exchange-traded funds that invest in publicly traded US equities. The firm does not engage in private markets, direct investments, or alternatives. Its funds follow thematic indexes with ESG criteria.

### Is Impact Shares structured as a nonprofit or a for-profit entity?

Impact Shares is a for-profit registered investment adviser. However, each ETF operates with a nonprofit oversight board — the YWCA board for WOMN, and the NAACP board for NACP. That hybrid structure is central to its mission alignment.

### Does Impact Shares have other funds besides WOMN and NACP?

As of 2024, the firm's known offerings are the YWCA Women's Empowerment ETF (WOMN) and the NAACP Minority Empowerment ETF (NACP). The firm has not announced additional funds.

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Last updated: 2026-06-03T20:00:00.000Z

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