2life Development Inc
- Assets
- $91.8m
- Revenue
- $11.9m
- Investments
- $7.9m
- Employees
- 0
- Location
- Brighton, MA
- Founding
- 10/1977
- Data as of
- 12/2023
- EIN
- 04-2609432
Organization Overview
2life Development Inc is located in Brighton, MA. The organization was established in 1977. According to its NTEE Classification (L19) the organization is classified as: Support N.E.C., 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 Development 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 12/2023, 2life Development Inc generated $11.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 36.5% each year . All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 18.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2LIFE DEVELOPMENT INC. PROVIDES FINANCING AND SERVES AS DEVELOPER FOR LOW INCOME HOUSING PROJECTS FOR LOW INCOME SENIORS AND THE HANDICAPPED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernard Kaplan Director | Trustee | 1 | $0 |
Bill Shaevel Chairman/director | OfficerTrustee | 1 | $0 |
Donna Kalikow Vice-Chair And Director | OfficerTrustee | 1 | $0 |
Jeff Sacks Director | Trustee | 1 | $0 |
Norman Posner Director | Trustee | 1 | $0 |
Amy Schectman Ceo/president | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $163,290 |
| Government grants | $6,000,000 |
| 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 | $6,163,290 |
| Total Program Service Revenue | $5,471,078 |
| Investment income | $77,126 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $53,338 |
| Net Gain/Loss on Asset Sales | $170,039 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,934,871 |
| 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 | $1,207,328 |
| Pension plan accruals and contributions | $20,900 |
| Other employee benefits | $247,055 |
| Payroll taxes | $97,853 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,524 |
| Fees for services: Accounting | $24,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,786 |
| Office expenses | $28,791 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,699 |
| Travel | $370 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,291 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,849 |
| Insurance | $0 |
| All other expenses | $9,743 |
| Total functional expenses | $1,693,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,250,346 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,410,276 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $65,805,867 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,032 |
| Net Land, buildings, and equipment | $9,300 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,944,441 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,376,871 |
| Total assets | $91,836,133 |
| Accounts payable and accrued expenses | $209,259 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $14,307 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,167,782 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,779,011 |
| Total liabilities | $18,170,359 |
| Net assets without donor restrictions | $73,665,774 |
| Net assets with donor restrictions | $0 |
| 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 | $91,836,133 |