Monies set aside as a cushion of capital for future payment of items such as taxes, insurance, furniture replacement, deferred maintenance, etc ; sometimes referred to as an impound account
an account maintained to provide funds for anticipated expenditures required to maintain a building A reserve may be required by a lender in the form of an escrow to pay upcoming taxes and insurance costs A replacement reserve may be maintained to provide for replacement cost of short-lived components, such as carpets, heating equipment or roofing Deposit of money into such a fund does not achieve a tax deduction
A fund which planned gifts officers and their committees and supervisors can use to assist in closing planned gifts Topic areas: Fundraising and Financial Sustainability
Assets set aside for the purpose of ensuring that the General Board can pay its obligations to its participants For example, the reserve helps the General Board pay the base interest credit during periods when financial markets produce an insufficient rate of return
A fund (funded from securities proceeds, pledged revenues, or otherwise) usually held by the Trustee under the Indenture, and maintained in a stated or determinable amount sufficient to cover some unusual operation or maintenance expense or some interruption of Pledged Revenues See Debt Service Reserve Fund
A fund set up by a condominium corporation for major repairs and replacement of such items as the roof, elevators, plumbing, heating systems, etc All condo corporations, by law, require a reserve fund