Skip to content
Nonprofiteer
← 2LIFE DEVELOPMENT INC

Form 990 for tax year 2023

Filed by 2LIFE DEVELOPMENT INC.

Totals

Total revenue
$11,934,871
Total expenses
$1,693,803
Contributions and grants received
$6,163,290
Grants paid
$0
Program service revenue
$5,471,078
Investment income
$247,165
Other revenue
$53,338
Total assets, end of year
$91,836,133
Total liabilities, end of year
$18,170,359
Net assets or fund balances, end of year
$73,665,774
Program services expenses (Part IX)
$1,586,624
Management and general expenses
$107,179
Fundraising expenses
$0
Program service expenses (Part III)
$1,586,624

Program services were 93.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $163,290

  • 1e · Government grants (contributions)

    $6,000,000

  • 2a · Program service revenue: DEVELOPER FEE

    total $3,893,120 · related or exempt $3,893,120

  • 2b · Program service revenue: PROGRAM INTEREST

    total $1,418,255 · related or exempt $1,418,255

  • 2c · Program service revenue: ENERGY GRANTS

    total $159,703 · related or exempt $159,703

  • 3 · Investment income

    total $77,126 · excluded $77,126

  • 6a · Gross rents

    real property $53,338

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $53,338

  • 6d · Net rental income or loss

    total $53,338 · excluded $53,338

  • 7a · Gross sales of assets other than inventory

    securities $3,182,514

  • 7b · Less cost or other basis and sales expenses

    securities $3,012,475

  • 7c · Gain or loss

    securities $170,039

  • 7d · Net gain or loss

    total $170,039 · excluded $170,039

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,207,328 · program services $1,207,328

  • 8 · Pension plan contributions

    total $20,900 · program services $20,900

  • 9 · Other employee benefits

    total $247,055 · program services $247,055

  • 10 · Payroll taxes

    total $97,853 · program services $97,853

  • 11b · Fees: legal

    total $13,524 · management and general $13,524

  • 11c · Fees: accounting

    total $24,100 · management and general $24,100

  • 12 · Advertising and promotion

    total $3,786 · management and general $3,786

  • 13 · Office expenses

    total $28,791 · management and general $28,791

  • 16 · Occupancy

    total $16,699 · management and general $16,699

  • 17 · Travel

    total $370 · management and general $370

  • 19 · Conferences, conventions and meetings

    total $10,291 · management and general $10,291

  • 22 · Depreciation, depletion and amortization

    total $3,849 · program services $3,849

  • 24a · Other expenses: FINANCIAL EXPENSES

    total $9,349 · management and general $9,349

  • 24b · Other expenses: SUBSCRIPTION DUES

    total $165 · management and general $165

  • 24e · All other expenses

    total $9,743 · program services $9,639 · management and general $104

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $303,624 · end of year $2,250,346

  • 4 · Accounts receivable

    beginning of year $8,404,469 · end of year $9,410,276

  • 7 · Other notes and loans receivable

    beginning of year $50,157,939 · end of year $65,805,867

  • 9 · Prepaid expenses and deferred charges

    end of year $39,032

  • 10a · Land, buildings and equipment: cost or other basis

    $19,242

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,942

  • 10c · Land, buildings and equipment, net

    beginning of year $13,149 · end of year $9,300

  • 12 · Investments: other securities

    beginning of year $9,623,205 · end of year $7,944,441

  • 15 · Other assets

    beginning of year $10,599,483 · end of year $6,376,871

  • 17 · Accounts payable and accrued expenses

    beginning of year $425,962 · end of year $209,259

  • 21 · Escrow or custodial account liability

    end of year $14,307

  • 23 · Secured mortgages and notes payable

    beginning of year $14,448,053 · end of year $15,167,782

  • 25 · Other liabilities

    beginning of year $1,982,177 · end of year $2,779,011

  • 27 · Net assets without donor restrictions

    beginning of year $62,245,677 · end of year $73,665,774

Mission and programs · 2023

Mission

THE ENTITY PROVIDES REAL ESTATE DEVELOPMENT SUPPORT FOR NEW CONSTRUCTION AND RENOVATION ACTIVITIES TO RELATED 2LIFE ENTITIES IN THEIR MISSION TO PROVIDE HOUSING TO LOW INCOME SENIORS AND THE HANDICAPPED.

Activities or mission (Part I)

SEE SCHEDULE O.

  • 2LIFE DEVELOPMENT INC. PROVIDES FINANCING AND SERVES AS DEVELOPER FOR LOW INCOME HOUSING PROJECTS FOR LOW INCOME SENIORS AND THE HANDICAPPED.

    Expenses $1,586,624 · Revenue $5,471,078

As filed on the 2023 return.

Listed in Part VII

  • Bernard Kaplan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Bill Shaevel

    CHAIRMAN/DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Donna Kalikow

    VICE-CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Jeff Sacks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Norman Posner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Amy Schectman

    CEO/PRESIDENT

    Total calculated
    $315,748
    From this org
    $0
    From related orgs
    $302,225
    Other
    $13,523
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $246,229 related
    Bonus
    $0 + $25,000 related
    Other
    $0 + $30,996 related
    Deferred
    $0 + $13,523 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $315,748 related

  • Karen Edlund

    CHIEF OF BUSINESS STRATEGY , TREASURER

    Total calculated
    $233,520
    From this org
    $0
    From related orgs
    $207,373
    Other
    $26,147
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $191,050 related
    Bonus
    $0 + $7,500 related
    Other
    $0 + $8,823 related
    Deferred
    $0 + $10,148 related
    Nontaxable benefits
    $0 + $15,999 related
    Filer's total
    $0 + $233,520 related

  • Lizbeth Heyer

    VICE PRESIDENT/CLERK

    Total calculated
    $264,670
    From this org
    $0
    From related orgs
    $218,424
    Other
    $46,246
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,286 related
    Bonus
    $0
    Other
    $0 + $8,138 related
    Deferred
    $0 + $11,014 related
    Nontaxable benefits
    $0 + $35,232 related
    Filer's total
    $0 + $264,670 related

  • Henry Korman

    FORMER GENERAL COUNCIL / ASSISTANT CLERK

    Total calculated
    $0
    Hours/week
    5 + 35 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 2LIFE GOLDA LIMITED PARTNERSHIP

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE KURLAT LLC

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE LEVENTHAL LIMITED PARTNERSHIP

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE SHILLMAN LIMITED PARTNERSHIP

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE ULIN LIMITED PARTNERSHIP

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE WEINBERG LLC

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE 370 HARVARD LLC

    LOW INCOME HS · MA · general or managing partner

  • SHIRLEY COMMONS LLC

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE GOLDA EXPANSION LIMITED PARTNERSHIP

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE JJ CARROLL LLC

    LOW INCOME HS · MA · general or managing partner

  • 2LIFE LELAND MM LLC

    LOW INCOME HS · MA · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 2LIFE GOLDA GP LLC

    C · LOW INCOME HS · MA

  • 2LIFE LEVENTHAL INC

    C · LOW INCOME HS · MA

  • 2LIFE SHILLMAN INC

    C · LOW INCOME HS · MA

  • 2LIFE ULIN INC

    C · LOW INCOME HS · MA

  • 2LIFE WEINBERG MM LLC

    C · LOW INCOME HS · MA

  • 2LIFE 370 HARVARD MM LLC

    C · LOW INCOME HS · MA

  • SHIRLEY COMMONS MM LLC

    C · LOW INCOME HS · MA

  • 2LIFE GOLDA EXPANSION GP LLC

    C · LOW INCOME HS · MA

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349314419

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.