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2life Realty INC FY2020 filing

Tax-deductible

Brighton, MA501(c)(3)Housing EIN 04-2505972Revenue $448K in FY2020Latest return filed Nov 14, 2025

On file with the IRS2lifecommunities.org30 Wallingford Road, 02135-4708 · Brighton, MATax-exempt since Jul 1972Publicly supported — 509(a)(2)

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2life Realty INC. Builds & operates housing for low income seniors & offers services to enhance independence and dignity. Inspired by jewish values, 2life communities are nonsectarian.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.9M a year · 451% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$74K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$448K
Spent
$2.0M
To programs
98%
Net assets
$17.7M
By yearFY2020–FY2024
Revenue
$448K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$448K
FY2021$507K
FY2022$450K
FY2023$457K
FY2024$235K
Expenses
$2.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.0M
FY2021$142K
FY2022$2.1M
FY2023$2.2M
FY2024$5.1M
Net assets
$17.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$17.7M
FY2021$18.4M
FY2022$16.3M
FY2023$14.8M
FY2024$10.3M

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1972.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $2.0M Management & general 2% · $44K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jeff Sacks
Director
$0Pt VII · Sec A
Edward Saxe
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Bill Shaevel
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Amy Schectman
President/Assistant Clerk
$0Pt VII · Sec A
Karen Edlund
Vice President/Treasurer
$0Pt VII · Sec A
See 2life Realty INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Builds and operates housing for low-income seniors, offering services to enhance independence.

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1 program · $2.0M · in their own filed words · FY2020
01

2LIFE realty inc. Has provided funding for and made renovations and improvements to 2LIFE properties.

$2.0Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$448K
Ln 12
Fees for servicesLn 2g$372K
Investment incomeLn 3$77K
Money outPt IX
$2.0M
Ln 25
Programscol B$2.0M
Managementcol C$44K
Owns and owesPt X
$17.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$17.8M
LiabilitiesLn 26$74K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$372K
Investment incomeLn 3$77K
Gains on assetsLn 7−$4K
Total revenueLn 12$448K
Assets in detailPt X, end of year
CashLn 1$4.0M
Cash and savings togetherLn 1–2$4.0M
InvestmentsLn 11–13$3.3M
Total assetsLn 16$17.8M
LiabilitiesLn 26$74K
Net assetsLn 32$17.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$5.3M$4.0M
InvestmentsLn 11–13$3.0M$3.3M
Total assetsLn 16$19.1M$17.8M
LiabilitiesLn 26$39K$74K
Net assetsLn 32$19.1M$17.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$552$552
Accounting feesLn 11c$15K$15K
OccupancyLn 16$28K$28K
Payments to affiliatesLn 21$2.0M$2.0M
Other expenses (24a–d)Ln 24$2K$1K$430
Total functional expensesLn 25$2.0M$2.0M$44K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 14, 2025 $235K$5.1M−$4.9M$10.3M 990 PDF
FY2023Filed with the IRS Nov 14, 2024 $457K$2.2M−$1.7M$14.8M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $450K$2.1M−$1.7M$16.3M 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $507K$142K$365K$18.4M 990 PDF
FY2020 ViewingFiled with the IRS Nov 15, 2021 $448K$2.0M−$1.6M$17.7M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $448,095 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $570,188$371,546
I-10 Investment incomePrior year $128,634$76,798
I-11 Other revenuePrior year $713−$249
I-12 Total revenuePrior year $699,535$448,095
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,073,744$2,045,590
I-18 Total expensesPrior year $3,073,744$2,045,590
I-19 Revenue less expensesPrior year −$2,374,209−$1,597,495
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $448,095 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $371,546$371,546
VIII-3 Investment incomeExcluded from tax $80,829$80,829
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$4,031−$4,031
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$249−$249
VIII-12 Total revenueRelated to mission $371,297 · Unrelated business $0 · Excluded from tax $76,798$448,095
Part IX · Statement of functional expenses $2,045,590 across 5 lines filed
IX-11b Legal feesPrograms $552$552
IX-11c Accounting feesManagement $15,210$15,210
IX-16 OccupancyManagement $28,236$28,236
IX-21 Payments to affiliatesPrograms $2,000,000$2,000,000
IX-24 Other expenses (24a–d)Programs $1,162 · Management $430$1,592
IX-25 Total functional expensesPrograms $2,001,714 · Management $43,876 · Fundraising $0$2,045,590
Part X · Balance sheet $17,752,518 assets, 11 lines filed
Asset lines not itemized here account for $9,831,717; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,299,899$4,029,253
X-4 Accounts receivableStart of year $4,258,108$619,192
X-11 Publicly traded securitiesStart of year $3,021,142$3,272,356
X-16 Total assetsStart of year $19,131,298$17,752,518
X-17 Accounts payable and accrued expensesStart of year $11,231$18,051
X-19 Deferred revenueStart of year $20,947$49,183
X-25 Other liabilitiesStart of year $7,188$7,188
X-26 Total liabilitiesStart of year $39,366$74,422
X-27 Net assets without donor restrictionsStart of year $19,091,932$17,678,096
X-32 Total net assets or fund balancesStart of year $19,091,932$17,678,096
X-33 Total liabilities and net assetsStart of year $19,131,298$17,752,518
Part XI · Reconciliation of net assets $17,678,096 net assets at year end
XI-1 Total revenue$448,095
XI-2 Total expenses$2,045,590
XI-3 Revenue less expenses−$1,597,495
XI-4 Net assets at start of year$19,091,932
XI-5 Net unrealized gains (losses) on investments$183,659
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$17,678,096

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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