Investment decisions in a project or program requires a judgment of whether the expected development results justify the costs. This generally and ordinarily calls for rigorous processes and systems to be institutionalized to help in projecting clear results at both output and outcome levels as well as the costs associated with achieving those results. Social Return on Investment (SROI), in this regard, is one critical measure that is increasingly being deployed by development agencies in respect of the aforementioned but also to measure the social value of interventions. This study is a reflective analysis of social impact of Water Sanitation and Hygiene services implemented by WaterAid Rwanda in selected communities and health care facilities in Rwanda. Social Return on Investment analysis was used as the assessment tool based on SROI 7 principles. The analysis has significantly helped to determine the impacts that the project has created and to identify the most productive aspects. To augment the SROI analysis core aspects of Value for Money – economy, efficiency, and effectiveness were also employed.