On 6 January 2004, the South African Government passed into law the Broad-Based Black Economic Empowerment Act, No. 53, 2003. The B-BBEE Codes of Good Practice have been operational as of 15 May 2015, and this legislation now affects most businesses in South Africa. A so-called BEE certificate is not only advisable but a necessity for most enterprises to operate effectively in a South African economic environment. Although there are no financial penalties imposed on businesses that are not BEE compliant, certain state-backed institutions and other corporations are encouraged to do business with compliant operations as this enhances their own BEE scorecard under the Preferential Procurement element provisions.
Donations to Louis57 Foundation qualify as Enterprise Development (ED) and Socio-economic Development (SED) contributions, and qualification is immediate at 100% of the contributed value. Donors are provided with the required documentation to enable them to secure immediate BEE recognition on their BEE scorecards. Donors are also given regular feedback on the projects they have assisted.