ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION	9 Months Ended
Jun. 30, 2011
ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION [Abstract]
ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION	NOTE 1 – ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION Resource America, Inc. (the "Company") (NASDAQ: REXI) is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its real estate, commercial finance and financial fund management operating segments. As a specialized asset manager, the Company seeks to develop investment funds for outside investors for which the Company provides asset management services, typically under long-term management and operating arrangements either through a contract with, or as the manager or general partner of, the sponsored fund. The Company limits its investment funds to investment areas where it owns existing operating companies or has specific expertise. The Company manages assets on behalf of institutional and individual investors and Resource Capital Corp. (“RCC”) (NYSE: RSO), a diversified real estate finance company that qualifies as a real estate investment trust (“REIT”). The consolidated financial statements and the information and tables contained in these notes as of June 30, 2011 and for the three and nine months ended June 30, 2011 and 2010 are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). However, in the opinion of management, these interim financial statements include all the necessary adjustments to present fairly the results of the interim periods presented. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2010 (“fiscal 2010”). The results of operations for the three and nine months ended June 30, 2011 may not necessarily be indicative of the results of operations for the full fiscal year ending September 30, 2011 (“fiscal 2011”). LEAF Commercial Capital, Inc, (“LEAF”). On January 4, 2011, LEAF Financial Corporation (“LEAF Financial”), the Company's commercial finance subsidiary, raised or obtained commitments for up to $236.0 million of equity and debt capital to expand its leasing platform through LEAF Commercial Capital, Inc. (“LEAF”), its new lease origination and servicing subsidiary, through contributions from LEAF Financial, RCC and Guggenheim Securities, LLC (“Guggenheim”). LEAF Financial contributed its leasing platform and directly held leases and loans, while RCC committed to investing up to $36.2 million of capital in the form of preferred stock and warrants (exercisable into LEAF common stock). A portion of RCC's investment consisted of the contribution of leases and loans it had previously acquired from LEAF Financial. Guggenheim arranged a new financing facility for LEAF of $110.0 million, which can be expanded up to $200.0 million upon mutual agreement, to fund new originations (see Note 10). As of June 30, 2011, RCC has completed its commitment to LEAF, and accordingly, owns a total of approximately 3,674 shares of LEAF Series A preferred stock (including paid-in-kind, or PIK shares) and has warrants to purchase 4,800 shares of LEAF common stock at an exercise price of $0.01 per share (representing 48% of LEAF's common stock on a fully-diluted basis assuming the exercise of all of the warrants). For this year, the preferred stock carries a coupon of 10%, of which 2% is paid in cash and 8% is PIK. For the six months ended June 30, 2011, the PIK interest of $528,000 was converted into approximately 553 shares of preferred stock. Commencing in year two, the coupon increases to 12% and the portion paid in cash increases to 3% (increasing to 4% in year 3 and 100% in cash thereafter). In addition, LEAF issued to Guggenheim a warrant to purchase up to 500 shares of LEAF common stock (exercise price of $0.01 per share) as well as the right to acquire up to an additional 150 shares of LEAF common stock from LEAF on the same terms (representing 6.5% of LEAF's common stock on a fully-diluted basis), if by August 28, 2011, specified ratings targets for the notes issued in connection with the Guggenheim credit facility have not been obtained.

NOTE 1 – ORGANIZATION AND BASIS OF QUARTERLY PRESENTATION

Resource America, Inc. (the "Company") (NASDAQ: REXI) is a specialized asset management company that uses industry specific expertise to evaluate, originate, service and manage investment opportunities through its real estate, commercial finance and financial fund management operating segments. As a specialized asset manager, the Company seeks to develop investment funds for outside investors for which the Company provides asset management services, typically under long-term management and operating arrangements either through a contract with, or as the manager or general partner of, the sponsored fund. The Company limits its investment funds to investment areas where it owns existing operating companies or has specific expertise. The Company manages assets on behalf of institutional and individual investors and Resource Capital Corp. (“RCC”) (NYSE: RSO), a diversified real estate finance company that qualifies as a real estate investment trust (“REIT”).

The consolidated financial statements and the information and tables contained in these notes as of June 30, 2011 and for the three and nine months ended June 30, 2011 and 2010 are unaudited. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). However, in the opinion of management, these interim financial statements include all the necessary adjustments to present fairly the results of the interim periods presented. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2010 (“fiscal 2010”). The results of operations for the three and nine months ended June 30, 2011 may not necessarily be indicative of the results of operations for the full fiscal year ending September 30, 2011 (“fiscal 2011”).

LEAF Commercial Capital, Inc, (“LEAF”). On January 4, 2011, LEAF Financial Corporation (“LEAF Financial”), the Company's commercial finance subsidiary, raised or obtained commitments for up to $236.0 million of equity and debt capital to expand its leasing platform through LEAF Commercial Capital, Inc. (“LEAF”), its new lease origination and servicing subsidiary, through contributions from LEAF Financial, RCC and Guggenheim Securities, LLC (“Guggenheim”). LEAF Financial contributed its leasing platform and directly held leases and loans, while RCC committed to investing up to $36.2 million of capital in the form of preferred stock and warrants (exercisable into LEAF common stock). A portion of RCC's investment consisted of the contribution of leases and loans it had previously acquired from LEAF Financial. Guggenheim arranged a new financing facility for LEAF of $110.0 million, which can be expanded up to $200.0 million upon mutual agreement, to fund new originations (see Note 10).

As of June 30, 2011, RCC has completed its commitment to LEAF, and accordingly, owns a total of approximately 3,674 shares of LEAF Series A preferred stock (including paid-in-kind, or PIK shares) and has warrants to purchase 4,800 shares of LEAF common stock at an exercise price of $0.01 per share (representing 48% of LEAF's common stock on a fully-diluted basis assuming the exercise of all of the warrants). For this year, the preferred stock carries a coupon of 10%, of which 2% is paid in cash and 8% is PIK. For the six months ended June 30, 2011, the PIK interest of $528,000 was converted into approximately 553 shares of preferred stock. Commencing in year two, the coupon increases to 12% and the portion paid in cash increases to 3% (increasing to 4% in year 3 and 100% in cash thereafter).

In addition, LEAF issued to Guggenheim a warrant to purchase up to 500 shares of LEAF common stock (exercise price of $0.01 per share) as well as the right to acquire up to an additional 150 shares of LEAF common stock from LEAF on the same terms (representing 6.5% of LEAF's common stock on a fully-diluted basis), if by August 28, 2011, specified ratings targets for the notes issued in connection with the Guggenheim credit facility have not been obtained.