NCREIF Standing Committee Mission Statements
- Accounting Committee
- To enhance the consistency, transparency, and verifiability of accounting and reporting for institutional real estate assets held in a fiduciary setting.
- In order to accomplish this, the Accounting Committee reviews, develops, documents and promotes standards for accounting and reporting of these real estate assets (both individually and at the portfolio level) with the intention to supplement and in some cases, clarify, but not replace other established standards from authorized bodies, including but not limited to US GAAP. Member involvement with the standard setting and updating process is encouraged. The Accounting Committee also monitors the actions of applicable standard-setting and supervisory agencies and works with the Reporting Standards Council to ensure the entire organization is aware of these agencies’ activities and as appropriate assists the Reporting Standards Council in communication with these agencies.
- Finally, the Accounting Committee provides members with tools and/or resources created through the collective efforts of the membership, and supports the activities of other NCREIF committees by supplying information and research when appropriate.
- Daily Priced Committee
- Interact with all NCREIF Standing Committees and cooperate with other industry organizations for the advancement of knowledge and understanding of Daily Priced Private Real Estate. This group will leverage the procedural standards, specific knowledge, existing framework and accepted methods of other committees toward the education, standardization and application of private real estate in a daily pricing environment.
- ESG Committee
- To encourage, promote, identify, and provide education around the integration of current and emerging Environmental, Social, and Governance (“ESG”) initiatives in order to support best practice in sustainable investment decision-making across the institutional real estate community.
- Farmland Committee
- To design and implement farmland return index products for the farmland investment community resulting in an accurate and timely reflection of the performance of privately held farmland investments, held in a fiduciary manner.
- Information Management Committee
- The mission of the NCREIF Information Management Committee is to provide leadership and guidance in the administration and use of real estate investment information.
- The mission will be accomplished through programs and goals that will:
- • Increase awareness of the value and benefits of effective information management and data governance to facilitate investment decision making
- • Provide education and sharing of knowledge among NCREIF members
- • Collaborative teaming with other NCREIF Standing Committees to understand current business needs, challenges and define data standards
- • Work jointly with leading technology vendors as their systems evolve to meet the needs of the industry
- • Pursue opportunities to identify and create initiatives to meet the needs of clients and consultants
- • Partnership with NCREIF’s internal Information Management team
- Investor Committee
- NCREIF's Investor Committee is dedicated to offering a forum for employees of Investor member firms to gather and openly discuss and exchange ideas on challenges and opportunities within their sector of the industry. The Committee also regularly participates in educational programs and sessions that are specific to its needs.
- Performance Measurement Committee
- The mission of this committee is to promote the consistent application of performance measurement methodologies and performance disclosure standards for the real estate asset class, as well as promote consistent analysis and evaluation of performance returns.
- This mission is accomplished by:
- • Understanding, reviewing and interpreting existing methodologies, guidelines and standards established for real estate asset class in comparison to other asset classes.
- • Understanding evolving industry practices, mainly driven by consultant questionnaires & investor information disclosure requirements.
- Research Committee
- To promote research which expands the understanding of institutional real estate as an asset class, by providing ongoing validation of the NCREIF Indexes, by sponsoring academic research on the investment attributes of the asset class, by providing guidelines for interpreting the Index and disseminating results to the membership, by reviewing current micro- and macro-economic research that relates to institutional property markets, by identifying databases and text retrieval systems useful to institutional real estate researchers and by the publication of articles or other papers resulting from any of these activities.
- Timberland Committee
- Design and implement timberland return index products for the timberland investment community resulting in an accurate and timely reflection of the performance of privately held timberland investments, held in a fiduciary manner. Interpret new and changing standards for investment valuation and appraisal methodologies, and provide guidance to timberland investment managers on their application.
- Valuation Committee
- To represent the various member constituencies in the promotion of credible valuation standards and techniques for the appraisal of institutional real estate, both foreign and domestic, by working with industry associations and industry professionals who respectively set such standards and follow generally-accepted techniques, and by publishing and disseminating information useful to the industry in the valuation of such investments.