2life Communities Inc
- Assets
- $57.7m
- Revenue
- $7.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Brighton, MA
- Founding
- 07/1968
- Data as of
- 12/2021
- EIN
- 04-2478888
Organization Overview
2life Communities Inc is located in Brighton, MA. The organization was established in 1968. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 2life Communities Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, 2life Communities Inc generated $7.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $12.6m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION IS OPERATED FOR THE BENEFIT OF AFFILIATED 501(C)(3) ORGANIZATIONS AND IS THE ASSET MANAGER FOR SENIOR HOUSING PROJECTS SPONSORED AND OPERATED BY THE ORGANIZATION AND OTHER NONPROFIT ENTITIES AFFILIATED WITH 2LIFE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Schectman President | Officer | 10 | $0 |
Henry Korman General Counsel | 10 | $0 | |
David Zaltas Clerk | Officer | 1 | $0 |
Norman Posner Treasurer | Officer | 1 | $0 |
Lizbeth Heyer Vice President | Officer | 1 | $0 |
Karen Edlund Chief Financial Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,802,822 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,802,822 |
| Total Program Service Revenue | $1,549,019 |
| Investment income | $1,159,976 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $583,856 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,095,673 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,433,628 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $273,502 |
| Payroll taxes | $91,324 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,790 |
| Fees for services: Accounting | $30,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $960,665 |
| Office expenses | $41,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,302 |
| Interest | $0 |
| Payments to affiliates | $8,330,492 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61 |
| All other expenses | $107,293 |
| Total functional expenses | $12,585,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $666,345 |
| Savings and temporary cash investments | $3,287 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,826,425 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,583,891 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $52,208,780 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,428,901 |
| Total assets | $57,717,629 |
| Accounts payable and accrued expenses | $675,146 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $25,000 |
| Other liabilities | $300,000 |
| Total liabilities | $1,000,146 |
| Net assets without donor restrictions | $56,417,761 |
| Net assets with donor restrictions | $299,722 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $57,717,629 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that 2life Communities Inc has recieved totaling $762,100.
| Awarding Organization | Amount |
|---|---|
Hamilton Company Charitable Foundation Allston, MA PURPOSE: GENERAL | $300,000 |
The Harry & Jeanette Weinberg Foundation Inc Owings Mills, MD PURPOSE: TO SUPPORT THE EXPANSION OF THIS ORGANIZATIONS GOLDA MEIR HOUSE, AN AFFORDABLE HOUSING DEVELOPMENT FOR OLDER ADULTS, INCLUDING CHRONICALLY HOMELESS INDIVIDUALS WITH DISABILITIES. | $250,000 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $105,000 |
Young-Rourke Charitable Foundation Tr U-A 04182006 Belmont, MA PURPOSE: PAYMENTS FOR PROGRAMS | $25,000 |
Smf Foundation Chestnut Hill, MA PURPOSE: GENERAL PURPOSE | $18,000 |
Joseph And Rae Gann Charitable Foundation Bal Harbour, FL PURPOSE: GENERAL | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Foundation For Senior Citizens Home Attendant Services I New York, NY | $24,976,445 | $43,263,283 |
Active Retirement Community Inc South Setauket, NY | $204,676,750 | $34,139,621 |
Kendal At Hanover I Hanover, NH | $202,821,277 | $31,489,711 |
Mclean Affiliates Inc Simsbury, CT | $119,028,138 | $28,380,962 |
Israel Senior Citizens Housing Development Fund Corp New York, NY | $56,551,856 | $8,736,330 |
Woodland Pond Inc New Paltz, NY | $75,307,773 | $23,806,053 |
Lasell Village Inc Auburndale, MA | $102,869,314 | $21,782,150 |
Riverwoods Durham Durham, NH | $126,625,985 | $17,724,252 |
Colgate Palmolive Post Retirement Veba Tr New York, NY | $1,964,886 | $6,599,849 |
Orchard Park Ccrc Inc Orchard Park, NY | $79,217,375 | $18,334,727 |
Christopher House Inc Worcester, MA | $11,659,464 | $17,133,392 |
Firemens Association Of The State Of New York Albany, NY | $46,544,668 | $18,019,275 |