Coronavirus disease (COVID-19) is an infectious disease caused by the SARS-CoV-2 virus.

an agreement entered into between an employing entity and the bargaining representative of its employees.

A shareholder is a person, company, or institution that owns at least one share of a company’s stock or a share of a mutual fund. Shareholders essentially own the company, which comes with the right to share in the profits.

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A sole proprietorship is a type of business that is owned and run by one person and in

Past service credit to employees for years they worked before the ESOP was established

The persistent difference in accumulated wealth between white households and households of color in the United States. Broadening who owns businesses, including through employee ownership, is often discussed as one way to help narrow it.

Also known as the "death tax," a tax that's levied on a dead person's inherited assets. Ranges from rates of 18% to 40% and generally only applies to assets over $13.61 million in 2024. Thirteen states levy an estate tax. Thresholds can vary from state to state.

The final (large) payment that repays all the remaining principal and interest of a partially amortized or unamortized loan.

In the black means your business is turning a profit and not in debt.

A credit union is a member-owned financial co-operative. Unlike in a traditional bank, where the owners are those who buy stock, not necessarily those who have accounts, credit unions are created and operated by account holders, who are the members-owners, and profits are shared amongst the owners.

Typically refers to companies with an enterprise value between $1 billion and $5 billion.

A forecast of future revenues and expenses for a business, organization, or country. A financial projection will typically take into account both internal information such as historical income and cost data, and estimates of the development of external market factors, providing estimated figures in addition to projections of the general financial condition of the company in the future.

This percentage represents how much of the money earned by a business is directly spent on creating products or providing services. The lower the percentage, the higher the margin, and the more cost-effective the business appears to be. (To calculate a gross profit margin, first take the gross profit from the Profit & Loss [i.e. total revenue minus direct costs/Cost of Goods Sold]. Divide this number by total revenue. Multiply by 100 to show as a percentage.)

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Also called Collective Equity in a cooperative, Retained Earnings are the accumulated net income that has been retained for reinvestment in the business rather than being paid out in dividends to stockholders. Retained Earnings is a part of the equity section of a business’ balance sheet.

The mandatory transfer of employer securities into or out of plan accounts, not designed to result in an equal proportion of employer securities in each account

The point, especially the level of sales of a good or service, at which the return on investment is exactly equal to the amount invested.

A bolt-on acquisition is a transaction in which a larger company acquires a smaller company that offers complementary services, products, or geographical advantages. PE firms often use bolt-on acquisitions as a strategy to grow their portfolio companies and increase their value.

Overhead is an accounting term that refers to all ongoing business expenses not including or related to direct labor, direct materials or third-party expenses that are billed directly to customers. Also known as “indirect expenses” or “indirect costs”.

Testing for qualified retirement plans, e.g., ESOPs, pertaining to IRC Section 415 which limits the annual additions allocated to a participant’s account in all defined contribution plans to the lesser of 100% of the participant’s compensation or the statutory limit in effect for the calendar year in which the Plan year ends.

An individual's capital investment in a property (e.g., a business) for tax purposes.

A startup company valued at over US$1 billion which is privately owned and not listed on a share market.

Junior capital defines any non-senior type of debt capital, including mezzanine debt or equity; it is at the risk capital level and generally not secured by assets, i.e., if the company does not achieve its goals the investor’s capital has a high degree of risk of loss.

Generally speaking, a collective is an organization that is managed without hierarchy. This means that every person has equal decision-making power. Some decisions may be delegated to individual members or sub-committees, but no one has the special, authoritative power usually granted to a manager.

Any business in which two or more family members are involved and the majority of ownership or control lies within a family.

Typically refers to companies with an enterprise value above $5 billion.

The solidarity economy is a global movement to build a just and sustainable economy.

An F reorganization is defined in Internal Revenue Code Section 368(a)(1)(F) as a mere change of identity, form or place of organization of one corporation. In particular, this involves a tax-free reorganization of the target company (seller), which is typically an S corporation.

Operational efficiency is primarily a metric that measures the efficiency of profit earned as a function of operating costs.