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Nonprofiteer
← 2LIFE DEVELOPMENT INC

Form 990 for tax year 2022

Filed by 2LIFE DEVELOPMENT INC.

Totals

Total revenue
$6,196,005
Total expenses
$1,638,588
Contributions and grants received
$393,600
Grants paid
$0
Program service revenue
$5,550,496
Investment income
$251,909
Other revenue
$0
Total assets, end of year
$79,101,869
Total liabilities, end of year
$16,856,192
Net assets or fund balances, end of year
$62,245,677
Program services expenses (Part IX)
$1,546,354
Management and general expenses
$92,234
Fundraising expenses
$0
Program service expenses (Part III)
$1,546,354

Program services were 94.4% 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

    $393,600

  • 2a · Program service revenue: DEVELOPER FEE

    total $4,186,960 · related or exempt $4,186,960

  • 2b · Program service revenue: PROGRAM INTEREST

    total $1,342,286 · related or exempt $1,342,286

  • 2c · Program service revenue: ENERGY GRANTS

    total $21,250 · related or exempt $21,250

  • 3 · Investment income

    total $54,582 · excluded $54,582

  • 7a · Gross sales of assets other than inventory

    securities $1,077,865

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

    securities $880,538

  • 7c · Gain or loss

    securities $197,327

  • 7d · Net gain or loss

    total $197,327 · excluded $197,327

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,224,890 · program services $1,224,890

  • 8 · Pension plan contributions

    total $18,939 · program services $18,939

  • 9 · Other employee benefits

    total $203,424 · program services $203,424

  • 10 · Payroll taxes

    total $78,376 · program services $78,376

  • 11b · Fees: legal

    total $665 · management and general $665

  • 11c · Fees: accounting

    total $34,360 · management and general $34,360

  • 12 · Advertising and promotion

    total $3,891 · management and general $3,891

  • 13 · Office expenses

    total $24,340 · management and general $24,340

  • 17 · Travel

    total $371 · management and general $371

  • 19 · Conferences, conventions and meetings

    total $9,694 · management and general $9,694

  • 22 · Depreciation, depletion and amortization

    total $3,848 · program services $3,848

  • 24a · Other expenses: OTHER EXPENSES

    total $16,877 · program services $16,877

  • 24b · Other expenses: BAD DEBTS

    total $10,500 · management and general $10,500

  • 24c · Other expenses: MISCELLANEOUS FINANCIAL

    total $5,983 · management and general $5,983

  • 24d · Other expenses: MANAGEMENT CONSULTANTS

    total $1,318 · management and general $1,318

  • 24e · All other expenses

    total $1,112 · management and general $1,112

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,035,612 · end of year $303,624

  • 4 · Accounts receivable

    beginning of year $498,541 · end of year $8,404,469

  • 7 · Other notes and loans receivable

    beginning of year $48,276,035 · end of year $50,157,939

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

    $19,242

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

    $6,093

  • 10c · Land, buildings and equipment, net

    beginning of year $16,997 · end of year $13,149

  • 12 · Investments: other securities

    beginning of year $11,614,060 · end of year $9,623,205

  • 15 · Other assets

    beginning of year $6,739,699 · end of year $10,599,483

  • 17 · Accounts payable and accrued expenses

    beginning of year $393,893 · end of year $425,962

  • 23 · Secured mortgages and notes payable

    beginning of year $11,079,000 · end of year $14,448,053

  • 25 · Other liabilities

    beginning of year $819,602 · end of year $1,982,177

  • 27 · Net assets without donor restrictions

    beginning of year $58,888,449 · end of year $62,245,677

Mission and programs · 2022

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 $1,546,354 · Revenue $5,550,496

As filed on the 2022 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

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Jeff Sacks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • Norman Posner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Amy Schectman

    PRESIDENT

    Total calculated
    $331,522
    From this org
    $0
    From related orgs
    $317,654
    Other
    $13,868
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $248,878 related
    Bonus
    $0 + $40,000 related
    Other
    $0 + $28,776 related
    Deferred
    $0 + $13,868 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $331,522 related

  • Henry Korman

    GENERAL COUNCIL/ASSISTANT CLERK

    Total calculated
    $216,340
    From this org
    $0
    From related orgs
    $206,340
    Other
    $10,000
    Hours/week
    1 + 4 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,000 related
    Bonus
    $0
    Other
    $0 + $6,340 related
    Deferred
    $0 + $10,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $216,340 related

  • Karen Edlund

    CFO/TREASURER

    Total calculated
    $222,869
    From this org
    $0
    From related orgs
    $199,524
    Other
    $23,345
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $182,073 related
    Bonus
    $0 + $9,000 related
    Other
    $0 + $8,451 related
    Deferred
    $0 + $9,675 related
    Nontaxable benefits
    $0 + $13,670 related
    Filer's total
    $0 + $222,869 related

  • Lizbeth Heyer

    VICE PRESIDENT/CLERK

    Total calculated
    $259,389
    From this org
    $0
    From related orgs
    $209,819
    Other
    $49,570
    Hours/week
    20 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $192,494 related
    Bonus
    $0 + $9,500 related
    Other
    $0 + $7,825 related
    Deferred
    $0 + $10,575 related
    Nontaxable benefits
    $0 + $38,995 related
    Filer's total
    $0 + $259,389 related

  • Elijah Lapson

    CTO

    Total calculated
    $244,760
    From this org
    $0
    From related orgs
    $194,590
    Other
    $50,170
    Hours/week
    10 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,244 related
    Bonus
    $0 + $8,500 related
    Other
    $0 + $6,846 related
    Deferred
    $0 + $9,925 related
    Nontaxable benefits
    $0 + $40,245 related
    Filer's total
    $0 + $244,760 related

  • Matthew Quinn

    SENIOR DIRECTOR, RE & CORP. FIN

    Total calculated
    $219,933
    From this org
    $0
    From related orgs
    $173,576
    Other
    $46,357
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,679 related
    Bonus
    $0 + $10,500 related
    Other
    $0 + $1,397 related
    Deferred
    $0 + $6,547 related
    Nontaxable benefits
    $0 + $39,810 related
    Filer's total
    $0 + $219,933 related

  • Sharon Books

    CMO

    Total calculated
    $215,961
    From this org
    $0
    From related orgs
    $211,757
    Other
    $4,204
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,917 related
    Bonus
    $0 + $5,500 related
    Other
    $0 + $6,340 related
    Deferred
    $0 + $4,121 related
    Nontaxable benefits
    $0 + $83 related
    Filer's total
    $0 + $215,961 related

  • Susan Appelbaum

    CDO

    Total calculated
    $189,549
    From this org
    $0
    From related orgs
    $180,774
    Other
    $8,775
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,000 related
    Bonus
    $0 + $5,500 related
    Other
    $0 + $5,274 related
    Deferred
    $0 + $8,775 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $189,549 related

  • Zoe Weinrobe

    DIRECTOR OF RE DEV.

    Total calculated
    $170,401
    From this org
    $0
    From related orgs
    $149,588
    Other
    $20,813
    Hours/week
    25 + 15 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,442 related
    Bonus
    $0 + $6,000 related
    Other
    $0 + $1,146 related
    Deferred
    $0 + $7,418 related
    Nontaxable benefits
    $0 + $13,395 related
    Filer's total
    $0 + $170,401 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

  • 2LIFE KURLAT LLC

    LOW INCOME HS · MA

  • 2LIFE LEVENTHAL LIMITED PARTNERSHIP

    LOW INCOME HS · MA

  • 2LIFE SHILLMAN LIMITED PARTNERSHIP

    LOW INCOME HS · MA

  • 2LIFE ULIN LIMITED PARTNERSHIP

    LOW INCOME HS · MA

  • 2LIFE WEINBERG LLC

    LOW INCOME HS · MA

  • 2LIFE LEVENTHAL LLC

    LOW INCOME HS · MA

  • 2LIFE 370 HARVARD LLC

    LOW INCOME HS · MA

  • SHIRLEY COMMONS LLC

    LOW INCOME HS · MA

  • 2LIFE GOLDA EXPANSION LIMITED PARTNERSHIP

    LOW INCOME HS · MA

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

  • GENESIS ELDERLY HOUSING INC

    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 LELAND MM LLC

    C · LOW INCOME HS · MA

  • 2LIFE OPUS NEWTON LLC

    C · LOW INCOME HS · MA

  • 2LIFE LELAND LLC

    C · LOW INCOME HS · MA

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313199349311446

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