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Nonprofiteer
← 2LIFE OPUS INC

Form 990 for tax year 2023

Filed by 2LIFE OPUS INC.

Totals

Total revenue
$55,147
Total expenses
$42,250
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$55,147
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,045,647
Total liabilities, end of year
$4,032,750
Net assets or fund balances, end of year
$12,897
Program services expenses (Part IX)
$40,287
Management and general expenses
$1,963
Fundraising expenses
$0
Program service expenses (Part III)
$40,287

Program services were 95.4% 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.

  • 2a · Program service revenue: PROGRAM INTEREST INCOM

    total $55,147 · related or exempt $55,147

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $40,287 · program services $40,287

  • 24a · Other expenses: COMPUTER MAINTENANCE RE

    total $213 · management and general $213

  • 24e · All other expenses

    total $1,750 · management and general $1,750

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $500

  • 4 · Accounts receivable

    beginning of year $0 · end of year $4,045,147

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $2,463

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $2,530,287

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,500,000

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $12,897

Mission and programs · 2023

Mission

2LIFE OPUS INC SPONSORS AN AFFORDABLE ELDERLY PROJECT, AND WORKS COLLABORATIVELY WITH AFFILIATE 2LIFE NONPROFIT ORGANIZATIONS TO DO SO. 2LIFE OPUS INC WILL DEVELOP AND SUSTAIN AFFORDABLE AND LOW-INCOME HOUSING, CONSISTENT WITH ALL APPLICABLE STATE AND FEDERAL SAFE HARBOR REQUIREMENTS AND WILL PROVIDE RELATED RESIDENT SERVICES WITHIN SUCH HOUSING FACILITIES WHICH ARE CONSISTENT WITH COMMUNITITY NEEDS AND DESIRES. IN ADDITION, THE ORGANIZATION WILL PROVIDE NONPROFIT HOUSING FOR USE AND OCCUPANCY BY ELDERLY PERSONS, AND WILL PROVIDE SERVICES WHICH WILL ENHANCE THE ABILITIY OF SUCH PERSONS TO LIVE SAFE, USEFUL AND INDEPENDENT LIVES INCLUDING ACCESS TO HEALTH AND SOCIAL SERVICES.

Activities or mission (Part I)

SEE SCHEDULE O.2LIFE IS DEDICATED TO THE VISION THAT EVERY OLDER ADULT SHOULD HAVE THE OPPORTUNITY TO LIVE A FULL LIFE OF CONNECTION AND PURPOSE IN A DYNAMIC SUPPORTIVE ENVIRONMENT. 2LIFE CALLS THIS CONCEPT "AGING IN COMMUNITY AND 2LIFE AIMS TO ALLOW INDIVIDUALS TO DO SO WITH A FOCUS ON AFFORDABILITY. 2LIFE MISSION IS TO WELCOME SENIORS OF ALL BACKGROUNDS AND TO ENABLE AGING IN COMMUNITIES OF ENGAGEMENT, CONNECTION AND PURPOSE BY PROVIDING SUPERIOR AFFORDABLE HOUSING, PROVIDING SUPPORT SERVICES THAT MEET THE NEEDS OF DIVERSE RESIDENTS AS THEY AGE, BUILDING CONNECTION AND COMMUNITY WITHIN ITS WALLS AND IN ITS SURROUNDING NEIGHBORHOODS AND PROMOTING AGING IN COMMUNITY AS A PREFERRED CHOICE FOR HEALTHY AGING.

  • 2LIFE OPUS INC SPONSORS AN AFFORDABLE ELDERLY PROJECT, AND WORKS COLLABORATIVELY WITH AFFILIATE 2LIFE NONPROFIT ORGANIZATIONS TO DO SO. 2LIFE OPUS INC WILL DEVELOP AND SUSTAIN AFFORDABLE AND LOW-INCOME HOUSING, CONSISTENT WITH ALL APPLICABLE STATE AND FEDERAL SAFE HARBOR REQUIREMENTS AND WILL PROVIDE RELATED RESIDENT SERVICES WITHIN SUCH HOUSING FACILITIES WHICH ARE CONSISTENT WITH COMMUNITITY NEEDS AND DESIRES. IN ADDITION, THE ORGANIZATION WILL PROVIDE NONPROFIT HOUSING FOR USE AND OCCUPANCY BY ELDERLY PERSONS, AND WILL PROVIDE SERVICES WHICH WILL ENHANCE THE ABILITIY OF SUCH PERSONS TO LIVE SAFE, USEFUL AND INDEPENDENT LIVES INCLUDING ACCESS TO HEALTH AND SOCIAL SERVICES.

    Expenses $40,287 · Revenue $55,147

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Adam Scott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Jeff Sacks

    CHAIR AND DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 7 related

  • Robert Gifford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Amy Schectman

    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

  • Henry Korman

    OUTGOING GENERAL COUNSEL/ASSISTANT CLERK

    Total calculated
    $0
    Hours/week
    1

  • Karen Edlund

    CHIEF FINANCIAL OFFICER/TR

    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
    1 + 39 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 LELAND MM LLC

    LOW INCOME HS · MA

  • 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

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
202423209349307802

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