At TrueShares, we do impact investing differently with the RiverNorth Patriot ETF (FLDZ). In addition to seeking capital growth by investing in mid to large cap American companies, a majority of the advisory profits and fees are donated to the Folds of Honor Foundation. Folds of Honor is a 501(c)(3) nonprofit focused on providing educational scholarships to the families of military service members and first responders who have been disabled or killed in action.
Folds of Honor was founded in 2007 by Lt Col Dan Rooney, an F-16 fighter pilot with three combat tours in Iraq. He was inspired to start this nonprofit after his flight home from his second tour of duty in Iraq. On this flight, the remains of Corporal Brock Bucklin were accompanied by his twin brother and received on the tarmac by his family as they were lowered from the plane’s cargo hold. In that moment, Rooney says he saw the other side of war and felt called to help the families of our nation’s heroes.
Between 2007 and 2022, Folds of Honor awarded over 44,000 educational scholarships to the spouses and dependents of fallen or disabled US service members. Then, in September of 2022, the organization expanded its mission to include the families of first responders. With over 2 million first responders in the US – including law enforcement, firefighters, EMTs, and paramedics – donations to Folds of Honor are able to reach many more families than ever before.
To date, over 51,000 scholarships have been awarded, totaling about $240 million. Up to $5,000 are awarded to each scholarship recipient for one academic year. These funds are intended to address unmet financial need. Folds of Honor can also proudly say that 45% of scholarships are awarded to minorities.
With the inclusion of the families of first responders, Folds of Honor needs support now more than ever. The majority of advisory fees and all profits from managing RiverNorth Patriot ETF (FLDZ) are donated to the Folds of Honor Foundation. In 2022, we gave more than 100% of our sub-advisory fee to the Foundation, helping sponsor numerous educational scholarships.
Investing in the RiverNorth Patriot ETF is truly a win-win. Not only are investors exposed to investing in American companies, but they can do so knowing the advisory profits and fees go directly toward providing educational scholarships to the loved ones of those who sacrifice themselves to protect our freedom and families. Investors can also be reassured that the donations do indeed go directly toward funding scholarships — Folds of Honor has a cumulative average ratio of 90% of every dollar raised going to their scholarship program. Invest wisely and invest for impact with the RiverNorth Patriot ETF.
