2life Development Inc
- Assets
- $71.2m
- Revenue
- $18.4m
- Investments
- $11.6m
- Employees
- 0
- Location
- Brighton, MA
- Founding
- 10/1977
- Data as of
- 12/2021
- 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 12/2021, 2life Development Inc generated $18.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 58.8% each year . All expenses for the organization totaled $9.7m during the year ending 12/2021. While expenses have increased by 59.4% per year over the past 7 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
2021
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 |
|---|---|---|---|
Bill Shaevel Chairman | OfficerTrustee | 1 | $0 |
Amy Schectman President | Officer | 1 | $0 |
Karen Edlund CFO | Officer | 5 | $0 |
Lizbeth Heyer Vice President | Officer | 20 | $0 |
Norman Posner Director | Trustee | 1 | $0 |
Jeff Sacks Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $9,108,020 |
| Government grants | $4,045,371 |
| 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 | $13,153,391 |
| Total Program Service Revenue | $4,565,656 |
| Investment income | $59,358 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $664,089 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,442,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,420,543 |
| 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 | $951,262 |
| Pension plan accruals and contributions | $15,561 |
| Other employee benefits | $171,945 |
| Payroll taxes | $59,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,682 |
| Fees for services: Accounting | $10,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $336 |
| Office expenses | $4,537 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $152 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,245 |
| Insurance | $0 |
| All other expenses | $21 |
| Total functional expenses | $9,717,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,035,612 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $498,541 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $48,276,035 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $16,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,614,060 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,739,699 |
| Total assets | $71,180,944 |
| Accounts payable and accrued expenses | $393,893 |
| 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 | $11,079,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $819,602 |
| Total liabilities | $12,292,495 |
| Net assets without donor restrictions | $58,888,449 |
| 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 | $71,180,944 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 2life Development Inc has recieved totaling $1,480,000.
| Awarding Organization | Amount |
|---|---|
Friends Of 2life Communities Inc Brighton, MA PURPOSE: CAPITAL PROJECTS | $1,480,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
2life Development Inc Brighton, MA | $71,180,944 | $18,442,494 |
East River Development Alliance Inc Long Island City, NY | $2,664,233 | $7,145,499 |
Habitat For Humanity International Inc Yarmouth Port, MA | $9,542,224 | $5,229,112 |
Green Mountain Habitat For Humanity Williston, VT | $6,106,072 | $4,490,260 |
Mesa Of N Y Inc Syracuse, NY | $17,850,923 | $2,659,402 |
Bphc Northhampton Development Corp Inc Boston, MA | $21,203,432 | $1,699,614 |
Episcopal Church Home Foundation Inc Rochester, NY | $28,068,379 | $3,009,679 |
Bnai Brith Housing New England Inc Brighton, MA | $13,547,116 | $1,754,959 |
Habitat For Humanity International Inc Shannock, RI | $4,572,368 | $1,165,090 |
Consumer Law Building Corporation Boston, MA | $16,410,532 | $1,243,747 |
Metro Housing Boston Boston, MA | $10,126,069 | $536,025 |
West Town Village Housing Development Fund Company Inc Rochester, NY | $2,435,220 | $397,200 |