The First Nonprofit-Owned Brokerage Firm
Although these are not unusual activities of an investment brokerage firm, AltruShare Securities is not your typical firm. Launched in 2006, AltruShare became the world’s first nonprofit-owned institutional brokerage firm, as well as the first community investment enterprise in the brokerage community.
After conducting a national search for a philanthropic partner to help launch this innovative business model, AltruShare turned to Tides. Tides helped structure this unique firm to both advance its vision as a business dedicated to being the best in corporate social responsibility, while simultaneously able to keep in compliance with existing regulatory requirements.
A for-profit venture, AltruShare Security grants one-third of its profits to the AltruShare Opportunity Fund, a fund created to actively support programs in youth development, education, and economic opportunity in the communities in which AltruShare does business.
Tides manages the AltruShare Opportunity Fund, providing Grantmaking, research and philanthropic advisory services to better enable AltruShare work toward its values-driven mission of providing sustainable support for diverse communities while simultaneously providing returns to its investors.
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