Rules for company and non-profit investments in measurable social-impact projects were published last friday in the OfficialGazette by the National Center for Non-Profit Sector. The fresh regulations outline the path for acquiring a social impact investment certificate, aiming to encourage private and non-profit entities to direct capital toward initiatives that both tackle social challenges and deliver financial returns.

Certificate requirements: Under the new rules, organizations seeking a social impact investment certificate must show a clear social mission in their founding documents or obtain approval from the general assembly on socially-bound investments, submit a detailed community needs study, complete the center’s approved social impact investment business model form, provide annual impact measurement reports, and meet financial disclosure requirements.

Application process: Applications should be submitted online via the center’s website to be processed within 15 days, with the center obliged to provide justifications for any possible rejections while granting eligible organizations the right to resubmit after addressing the issues.

Duration and renewal: Certificates will be valid for three years, eligible for renewal if a request is submitted within 60 days of expiration, subject to the same criteria. Certificates may be canceled for failure to submit an annual performance report, liquidation of the organization, or other violations of rules.

Supervision and support: The new rules, set to take effect 90 days following their publication, authorize the center to partner with government, private, and non-profit entities to support certificate holders and publish a list of certified organizations on its website or via other channels.

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