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PROPERTY & EQUIPMENT (P&E)
The net worth of the physical items an organization owns (e.g., property, building, equipment, improvements), which cannot easily be converted to cash. Often called fixed assets.
RATIO ANALYSIS
Conversion of financial numbers into ratios, often used as a tool to evaluate financial trends and health of an organization.
REAL ESTATE BROKER
A licensed agent who acts as the middle person between a buyer and a seller of property. A broker, acting as a tenant's representative, can identify suitable spaces and negotiate a lease that meets th
RENOVATION
General term applied to the process of upgrading an existing building, which can range from minor changes to major reconstruction. Gut rehab refers to major reconstruction, typically involving demolit
REQUEST FOR PROPOSALS (RFP)
A request sent to prospective consultants or contractors, once the scope of the project is clearly defined, which includes everything requested in an RFQ, plus a proposal of how the consultant would a
REQUEST FOR QUALIFICATIONS (RFQ)
A request sent to prospective consultants or contractors asking for basic information about areas of expertise, references from former clients, services, methods and fee structure.
RESERVES
Money set aside to pay for future anticipated expenses. Reserves can be established for many purposes, including: emergencies/rainy days, capital improvement and building replacement needs, future inv
RESTATEMENTS
Revisions of an organization’s earlier financial statements. The need for restatements can result from fraud, misrepresentation or a simple clerical or calculation error.
REVENUE
Payments for services, donations from individuals, foundations and corporations, support and contract payments from government agencies, income from fundraising activities, and investments.
REVIEW
A financial report as of a certain date, usually covering a twelve-month period put together and reviewed, but not audited, by a Certified Public Accountant (CPA) that includes a statement of position
SCOPE OF WORK
A detailed description of what work is to be done for a specific project.
SECURITY
Real estate or personal property used as collateral to back up a loan, which gives the lender tangible property that may be sold upon default to pay off the indebtedness.
SECURITY AGREEMENT
A legal document executed by a borrower granting a lender an interest in certain of the borrower
SHORT-TERM DEBT
Debt due one year or less from the date of a financial statement. Includes advances under lines of credit, notes with maturities of one year or less, and the current (amount due in the next twelve mon
SOFT COSTS
Expenses, other than “bricks and mortar, incurred in developing a real estate project. These costs include financing fees, fundraising fees, interest costs, inspection fees, permits, architectural, an