Life Management Inc
- Assets
- $95.4m
- Revenue
- $1.8m
- Investments
- $2.3k
- Employees
- 15
- Location
- Montclair, NJ
- Founding
- 02/1998
- Data as of
- 12/2023
- EIN
- 22-3519521
Organization Overview
Life Management Inc is located in Montclair, NJ. The organization was established in 1998. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Life Management Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Life Management 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, Life Management Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $912.8k during the year ending 12/2023. 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
FOSTER LOW-INCOME HOUSING AND SUPPORT RESIDENTS-PROVIDING ADVOCACY IN THE FORM OF SOCIAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIFE MANAGEMENT PROVIDES SOCIAL SERVICE PROGRAMS TO 13 AFFORDABLE HOUSING PROJECTS LOCATED THROUGHOUT ESSEX AND HUDSON COUNTIES. THE SERVICES PROVIDED BY LIFE MANAGEMENT INCLUDE, EDUCATIONAL, HEALTH AND FITNESS AND SOCIAL ACTIVITIES FOR BOTH ADULTS AND CHILDREN. THE SERVICES ARE FREE TO THE RESIDENTS OF THESE HOUSING PROJECTS AND ARE DONE THROUGH STAFF AND CONSULTANTS PAID FOR BY LIFE MANAGEMENT TOTALING 1,023 HOUSEHOLDS AND APPROXIMATELY 6,000 HOURS, AS WELL AS 688 ADULT EDUCATION PROGRAMS, 405 CHILDREN'S WORKSHOPS, AND 87 HEALTH WORKSHOPS.
LIFE MANAGEMENT INC. PROVIDES ASSISTANCE TO 231 SENIOR CITIZENS IN THE FORM OF RESIDENTIAL MAINTENANCE PROGRAMS.
LIFE MANAGEMENT, INC. PROVIDES ASSISTANCE TO SENIOR CITIZENS AND CAREGIVERS BY INSTALLING RAMPS, STAIRLIFTS, GRAB BARS; AND HAND RAILS, AS WELL AS SMOKE DETECTORS AND LIGHTS INSIDE AND OUTSIDE, CONTRACTORS ARE ALSO PAID TO REPAIR STAIRS, FLOORS, AND OTHER CONDITIONS THAT IMPEDE MOBILITY OF THE SENIOR AND CAREGIVERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Havlik Chairperson/exec. Director | OfficerTrustee | 20 | $107,043 |
Ellen Paretti Vice Chairperson/ops. Dir. | OfficerTrustee | 20 | $55,635 |
Debra Neier Treasurer | OfficerTrustee | 5 | $5,250 |
Beth Albert Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Patrick Francione Construction Contractor | 12/30/16 | $123,189 |
Journeymen Contracting Construction Contractor | 12/30/16 | $116,025 |
Journeymen Contracting Construction Contractor | 12/30/16 | $116,025 |
Patrick Francione Construction Contractor | 12/30/16 | $123,189 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $943,570 |
| All other contributions, gifts, grants, and similar amounts not included above | $327,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,271,188 |
| Total Program Service Revenue | $506,626 |
| Investment income | $51 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,810 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,781,675 |
| 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. | $162,678 |
| Compensation of current officers, directors, key employees. | $8,723 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $230,503 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,247 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,500 |
| Fees for services: Accounting | $84,671 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $292,279 |
| Advertising and promotion | $0 |
| Office expenses | $21,551 |
| Information technology | $1,566 |
| Royalties | $0 |
| Occupancy | $9,600 |
| Travel | $3,016 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,000 |
| Insurance | $19,171 |
| All other expenses | $0 |
| Total functional expenses | $912,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $167,545 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $102,242 |
| Accounts receivable, net | $411,468 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,115,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,301 |
| Investments—program-related | $91,293,410 |
| Intangible assets | $0 |
| Other assets | $2,298,444 |
| Total assets | $95,390,910 |
| Accounts payable and accrued expenses | $63,240 |
| 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 | $84,091,854 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $84,155,094 |
| Net assets without donor restrictions | $11,235,816 |
| 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 | $95,390,910 |