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Nonprofiteer
← 2LIFE REALTY INC

Form 990 for tax year 2023

Filed by 2LIFE REALTY INC.

Totals

Total revenue
$456,866
Total expenses
$2,151,809
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$277,548
Investment income
$136,365
Other revenue
$42,953
Total assets, end of year
$17,356,338
Total liabilities, end of year
$2,512,591
Net assets or fund balances, end of year
$14,843,747
Program services expenses (Part IX)
$2,000,000
Management and general expenses
$151,809
Fundraising expenses
$0
Program service expenses (Part III)
$2,000,000

Program services were 92.9% 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.

  • 2a · Program service revenue: PROGRAM INTEREST INCOM

    total $277,548 · related or exempt $277,548

  • 3 · Investment income

    total $140,989 · excluded $140,989

  • 6a · Gross rents

    real property $44,234

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $44,234

  • 6d · Net rental income or loss

    total $44,234 · excluded $44,234

  • 7a · Gross sales of assets other than inventory

    securities $165,516

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

    securities $170,140

  • 7c · Gain or loss

    securities -$4,624

  • 7d · Net gain or loss

    total -$4,624 · excluded -$4,624

  • 11d · All other revenue

    total -$1,281 · related or exempt -$1,281

  • 11e · Other revenue, total

    -$1,281

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $24,161 · management and general $24,161

  • 8 · Pension plan contributions

    total $865 · management and general $865

  • 9 · Other employee benefits

    total $6,765 · management and general $6,765

  • 10 · Payroll taxes

    total $18,939 · management and general $18,939

  • 11c · Fees: accounting

    total $14,450 · management and general $14,450

  • 16 · Occupancy

    total $82,536 · management and general $82,536

  • 21 · Payments to affiliates

    total $2,000,000 · program services $2,000,000

  • 22 · Depreciation, depletion and amortization

    total $3,594 · management and general $3,594

  • 24a · Other expenses: COMPUTER MAINTENANCE RE

    total $480 · management and general $480

  • 24b · Other expenses: OTHER CORPORATE EXPENSE

    total $19 · management and general $19

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,144,162 · end of year $2,672,162

  • 4 · Accounts receivable

    beginning of year $619,192 · end of year $337,670

  • 7 · Other notes and loans receivable

    beginning of year $9,303,795 · end of year $9,538,840

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

    $143,750

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

    $5,690

  • 10c · Land, buildings and equipment, net

    beginning of year $141,654 · end of year $138,060

  • 11 · Investments: publicly traded securities

    beginning of year $3,251,502 · end of year $2,429,231

  • 14 · Intangible assets

    beginning of year $2,217,601 · end of year $2,169,764

  • 15 · Other assets

    beginning of year $79,013 · end of year $70,611

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,932 · end of year $42,780

  • 19 · Deferred revenue

    beginning of year $2,472,905 · end of year $2,462,623

  • 21 · Escrow or custodial account liability

    end of year $7,188

  • 25 · Other liabilities

    beginning of year $7,188 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $16,262,894 · end of year $14,843,747

Mission and programs · 2023

Mission

2LIFE REALTY INC. PROVIDES ASSET MANAGEMENT, DEVELOPMENT SERVICES AND FUNDS FOR IMPROVEMENTS TO PROPERTIES OWNED BY RELATED 2LIFE ENTITIES THAT PROVIDE AFFORDABLE HOUSING TO LOW INCOME SENIORS.

Activities or mission (Part I)

2LIFE REALTY INC. BUILDS & OPERATES HOUSING FOR LOW INCOME SENIORS & OFFERS SERVICES TO ENHANCE INDEPENDENCE AND DIGNITY. INSPIRED BY JEWISH VALUES, 2LIFE COMMUNITIES ARE NONSECTARIAN.

  • 2LIFE REALTY INC. HAS PROVIDED FUNDING FOR AND MADE RENOVATIONS AND IMPROVEMENTS TO 2LIFE PROPERTIES.

    Expenses $2,000,000 · Revenue $276,267

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 FINANCIAL OFFICER/TR

    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 + 36 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

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 370 HARVARD LLC

    LOW INCOME HS · MA

  • 2LIFE GOLDA EXPANSION LIMITED PARTNERSHIP

    LOW INCOME HS · MA

  • 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

  • SHIRLEY COMMONS LLC

    LOW INCOME HS · MA

  • 2LIFE JJ CARROLL LLC

    LOW INCOME HS · MA

  • 2LIFE 2LIFE LELAND MM LLC

    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

  • 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
202433199349312693

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