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Nonprofiteer
← 2LIFE PARTNERS INC

Form 990 for tax year 2023

Filed by 2LIFE PARTNERS INC.

Totals

Total revenue
$16,563,108
Total expenses
$7,938,384
Contributions and grants received
$13,489,159
Grants paid
$0
Program service revenue
$2,969,613
Investment income
$104,336
Other revenue
$0
Total assets, end of year
$97,005,044
Total liabilities, end of year
$99,727,510
Net assets or fund balances, end of year
-$2,722,466
Program services expenses (Part IX)
$7,932,513
Management and general expenses
$5,871
Fundraising expenses
$0
Program service expenses (Part III)
$7,932,513

Program services were 99.9% 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

    $13,468,457

  • 1e · Government grants (contributions)

    $20,702

  • 2a · Program service revenue: RENTAL INCOME

    total $2,926,370 · related or exempt $2,926,370

  • 2b · Program service revenue: INCENTIVE PARTNERSHIP MANAGEMENT

    total $27,810 · related or exempt $27,810

  • 2c · Program service revenue: MISCELLANEOUS OTHER INCOME

    total $15,433 · related or exempt $15,433

  • 3 · Investment income

    total $104,336 · excluded $104,336

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $679,605 · program services $679,605

  • 8 · Pension plan contributions

    total $31,911 · program services $31,911

  • 9 · Other employee benefits

    total $172,260 · program services $172,260

  • 10 · Payroll taxes

    total $54,685 · program services $54,685

  • 11a · Fees: management

    total $147,503 · program services $147,503

  • 11b · Fees: legal

    total $810 · program services $810

  • 11c · Fees: accounting

    total $39,411 · program services $39,411

  • 13 · Office expenses

    total $60,548 · program services $55,701 · management and general $4,847

  • 14 · Information technology

    total $45,786 · program services $45,786

  • 16 · Occupancy

    total $334,236 · program services $334,236

  • 19 · Conferences, conventions and meetings

    total $4,451 · program services $4,451

  • 20 · Interest

    total $918,210 · program services $918,210

  • 21 · Payments to affiliates

    total $4,601,776 · program services $4,601,776

  • 22 · Depreciation, depletion and amortization

    total $166,671 · program services $166,671

  • 23 · Insurance

    total $195,367 · program services $195,367

  • 24a · Other expenses: REPAIRS

    total $302,791 · program services $302,791

  • 24b · Other expenses: REAL ESTATE TAXES

    total $169,069 · program services $169,069

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $2,297 · program services $2,297

  • 24e · All other expenses

    total $10,997 · program services $9,973 · management and general $1,024

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $520,625 · end of year $1,894,354

  • 4 · Accounts receivable

    beginning of year $122,367 · end of year $198,354

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $3,580,201

  • 9 · Prepaid expenses and deferred charges

    beginning of year $109,813 · end of year $119,001

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

    $5,607,309

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

    $862,226

  • 10c · Land, buildings and equipment, net

    beginning of year $3,394,471 · end of year $4,745,083

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $43,579,883 · end of year $42,265,788

  • 14 · Intangible assets

    beginning of year $0 · end of year $38,797

  • 15 · Other assets

    beginning of year $21,459,897 · end of year $44,163,466

  • 17 · Accounts payable and accrued expenses

    beginning of year $479,313 · end of year $3,492,630

  • 19 · Deferred revenue

    beginning of year $0 · end of year $50,355

  • 23 · Secured mortgages and notes payable

    beginning of year $80,513,113 · end of year $73,463,179

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $14,496,908

  • 25 · Other liabilities

    beginning of year $2,925,548 · end of year $8,224,438

  • 27 · Net assets without donor restrictions

    beginning of year -$14,730,918 · end of year -$2,722,466

Mission and programs · 2023

Mission

SEE SCHEDULE O

Activities or mission (Part I)

SEE SCHEDULE O.

  • THE ORGANIZATION OPERATES FOR PURPOSES OF OWNING, REHABILITATING, AND OPERATING SOME GOVERNMENT SUBSIDIZED, MULTIFAMILY APARTMENT COMPLEXES FOR THE ELDERLY.

    Expenses $7,932,513 · Revenue $2,969,613

As filed on the 2023 return.

Listed in Part VII

  • Donna Kalikow

    VICE-CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Norman Posner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jeff Sacks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Bill Shaevel

    CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Bernard Kaplan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 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
    1 + 39 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
    4 + 31 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

    ASSISTANT CLERK, FORMER GENERAL COUNSEL

    Total calculated
    $79,793
    From this org
    $0
    From related orgs
    $76,096
    Other
    $3,697
    Hours/week
    1 + 39 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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 2LIFE GROUND LESSOR LLC

    LOW INCOME · MA · income $126,422 · assets $1,549,995

    Directly controlled by 2LIFE PARTNERS INC

  • 2LIFE COLEMAN LP

    LOW INCOME · MA · income $508,299 · assets $37,230,532

    Directly controlled by 2LIFE PARTNERS INC

  • 2LIFE LELAND LLC

    LOW INCOME · MA · income $2,640 · assets $15,954,425

    Directly controlled by 2LIFE PARTNERS INC

Related partnerships

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

  • 2LIFE LEVENTHAL LIMITED PARTNERSHIP

    LOW INCOME · MA

  • 2LIFE ULIN LIMITED PARTNERSHIP

    LOW INCOME · MA

  • 2LIFE KURLAT LLC

    RELATED · LOW INCOME · MA · 1% owned · share of income $573,563 · general or managing partner

    Directly controlled by 2LIFE PARTNERS INC

  • 2LIFE GOLDA LIMITED PARTNERSHIP

    LOW INCOME · MA

  • 2LIFE SHILLMAN LIMITED PARTNERSHIP

    LOW INCOME · MA

  • 2LIFE WEINBERG LLC

    LOW INCOME · MA

  • 2LIFE 370 HARVARD LLC

    LOW INCOME · MA

  • SHIRLEY COMMONS LLC

    LOW INCOME · MA

  • 2LIFE GOLDA EXPANSION LIMITED PARTNERSHIP

    LOW INCOME · MA

  • 2LIFE JJ CARROLL LLC

    LOW INCOME · MA

  • 2LIFE LELAND MM LLC

    LOW INCOME · MA

Related corporations and trusts

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

  • 2LIFE 370 HARVARD MM LLC

    C · LOW INCOME · MA

  • 2LIFE GOLDA GP LLC

    C · LOW INCOME · MA

  • 2LIFE GOLDA EXPANSION GP LLC

    C · LOW INCOME · MA

  • 2LIFE LEVENTHAL INC

    C · LOW INCOME · MA

  • 2LIFE SHILLMAN INC

    C · LOW INCOME · MA

  • 2LIFE ULIN INC

    C · LOW INCOME · MA · 100% owned · share of income $27,291 · share of assets $807,500 · controlled entity

    Directly controlled by 2LIFE PARTNERS INC

  • 2LIFE WEINBERG MM LLC

    C · LOW INCOME · MA · 100% owned · share of assets $1,509,742 · controlled entity

    Directly controlled by 2LIFE PARTNERS INC

  • SHIRLEY COMMONS MM LLC

    C · LOW INCOME · MA

Provenance

Return type
form_990
Tax year
2023
Filed
22 November 2024
IRS schema version
2023v5.1
Source object
202403279349301450

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