New England Life Plan Communities
- Assets
- $159.3m
- Revenue
- $23.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Lincoln, MA
- Founding
- Data as of
- 12/2023
- EIN
- 87-3705424
Organization Overview
New England Life Plan Communities is located in Lincoln, MA. 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. New England Life Plan Communities is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
NEW ENGLAND LIFE PLAN COMMUNITIES (NELPC) IS A NOT-FOR-PROFIT COMPANY DEDICATED TO SERVING OLDER ADULTS. OUR RESIDENTS ARE ABLE TO ENJOY COMMUNITY BASED LIVING WITH AN ACTIVE, CHOICE DRIVEN LIFESTYLE, WHILE HAVING THE SECURITY OF ONSITE HEALTHCARE BEING AVAILABLE SHOULD THE NEED ARISE
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEW ENGLAND LIFE PLAN COMMUNITIES CORP OWNS AND OPERATES A SENIOR LIVING COMMUNITY LOCATED IN LINCOLN, MASSACHUSETTS, KNOWN AS THE COMMONS IN LINCOLN (THE COMMUNITY). THE COMMUNITY IS SITUATED ONA 30 ACRES CAMPUS CONSISTING OF 168 INDEPENDENT LIVING UNITS ACROSS TWO MAIN APARTMENT-STYLE BUILDINGS AND 38 COTTAGES. THE COMMUNITY ALSO INCLUDES A HEALTH CARE FACILITY CONSISTING OF A 40 UNIT ASSISTED LIVING FACILITY, A 24 UNIT MEMORY CARE FACILITY, A 32 BED SKILLED NURSING FACILITY, AND AN ASSISTED REHABILITATION UNIT ON SIT ETO PROVIDE THE SERVICES OF A CONTINUING CARE RETIREMENT COMMUNITY. EIGHT OF THE COMMUNITY'S INDEPENDENT LIVING UNITS ARE DESIGNATED AS LOW AND MODERATE INCOME UNITS. MONTHLY RENTAL RATES FOR THESE UNITS ARE RESTRICTED TO MAXIMUM ALLOWABLE AMOUNTS BASED ON THE RESIDENT'S INCOME.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Bradshaw Chairman | OfficerTrustee | 5 | $0 |
Jeff Carpenter Treasurer | OfficerTrustee | 2 | $0 |
Philippe Saad Secretary | OfficerTrustee | 1 | $0 |
Kathryn Brod Board Member | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Benchmark Senior Living Llc Management Company | 12/30/23 | $1,129,970 |
Focus Construction Llc Construction | 12/30/23 | $903,040 |
Patriot Excavating Corp Leach Field Replacement | 12/30/23 | $776,017 |
Whitewater Inc Co Whitewater Constru Water Treatment Technicians | 12/30/23 | $670,645 |
One Point Partners Llc Asset Management And Development Advisor | 12/30/23 | $390,372 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $194,076 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $194,076 |
| Total Program Service Revenue | $23,128,595 |
| Investment income | $624,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,947,580 |
| 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 | $10,518,255 |
| Pension plan accruals and contributions | $100,167 |
| Other employee benefits | $1,428,193 |
| Payroll taxes | $845,575 |
| Fees for services: Management | $1,520,674 |
| Fees for services: Legal | $228,790 |
| Fees for services: Accounting | $99,676 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $163,492 |
| Advertising and promotion | $489,918 |
| Office expenses | $0 |
| Information technology | $101,099 |
| Royalties | $0 |
| Occupancy | $2,245,875 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,134,527 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,308,164 |
| Insurance | $262,836 |
| All other expenses | $488,165 |
| Total functional expenses | $41,522,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,059,756 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,008,390 |
| 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 | $491,423 |
| Net Land, buildings, and equipment | $99,615,186 |
| Investments—publicly traded securities | $1,512,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $36,639,171 |
| Other assets | $0 |
| Total assets | $159,326,560 |
| Accounts payable and accrued expenses | $3,703,700 |
| Grants payable | $0 |
| Deferred revenue | $3,618,020 |
| Tax-exempt bond liabilities | $94,033,489 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $101,393,446 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $202,748,655 |
| Net assets without donor restrictions | $0 |
| 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 | -$43,422,095 |
| Total liabilities and net assets/fund balances | $159,326,560 |