2life Partners INC

Tax-deductible

Brighton, MA501(c)(3)Since 1991Community DevelopmentEIN 04-3584637

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 5 volunteers.
Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 4
filings with a surplus
Average surplus $7.9M a year · 49% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$91.8M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13.3M
-20% vs prior year
Spent
$8.9M
To programs
100%
Net assets
−$909K
By yearFY2021–FY2024
Revenue
$13.3M
FY2024▼ -20%
Revenue by fiscal year
FY2021$8.6M
FY2022$25.7M
FY2023$16.6M
FY2024$13.3M
Expenses
$8.9M
FY2024▲ +12%
Expenses by fiscal year
FY2021$5.9M
FY2022$9.8M
FY2023$7.9M
FY2024$8.9M
Net assets
−$909K
FY2024▲ +67%
Net assets by fiscal year
FY2021−$1.5M
FY2022−$14.7M
FY2023−$2.7M
FY2024−$909K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2013.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $8.9M Management & general 0% · $4K

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

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
Vice Chair and Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair and Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
CEO, President
$0Pt VII · Sec A
Chief of Business Strategy/Assistant Treasurer
$0Pt VII · Sec A
Vice President, Clerk/President
$0Pt VII · Sec A
See 2life Partners INC executive salaries →

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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

Owns, rehabilitates, and operates government-subsidized apartment complexes for the elderly.

Provided by the organization

This section is blank until 2life Partners INC claims this page.

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1 program service account for $8.9M of program spending, described in the organization's own filed words · FY2024.
01

The organization operates for purposes of owning, rehabilitating, and operating some government subsidized, multifamily apartment complexes for the elderly.

$8.9Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $256K · 2022–2022
2life Communities INCMA · FY2022$256,140

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$13.3M
Ln 12
Gifts and grantsLn 1h$9.1M
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$165K
Money outPt IX
$8.9M
Ln 25
Programscol B$8.9M
Managementcol C$4K
Owns and owesPt X
−$909K
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$90.9M
LiabilitiesLn 26$91.8M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$9.1M
Government grantsLn 1e$2.0M
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$165K
Total revenueLn 12$13.3M
Assets in detailPt X, end of year
CashLn 1$2.9M
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$50.8M
Land, buildings, equipmentLn 10c$35.8M
Other assetsLn 15$380K
Total assetsLn 16$90.9M
LiabilitiesLn 26$91.8M
Net assetsLn 32−$909K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY24End FY24
Cash and savingsLn 1–2$1.9M$2.9M
InvestmentsLn 11–13$42.3M$50.8M
Land, buildings, equipmentLn 10c$4.7M$35.8M
Total assetsLn 16$97.0M$90.9M
LiabilitiesLn 26$99.7M$91.8M
Net assetsLn 32−$2.7M−$909K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$688K$688K
Pension plan contributionsLn 8$23K$23K
Other employee benefitsLn 9$154K$154K
Payroll taxesLn 10$49K$49K
Management feesLn 11a$197K$197K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$41K$41K
Office expensesLn 13$68K$64K$4K
Information technologyLn 14$37K$37K$343
OccupancyLn 16$350K$350K
Conferences, conventions and meetingsLn 19$5K$5K
InterestLn 20$946K$946K
Payments to affiliatesLn 21$4.7M$4.7M
Depreciation, depletion and amortizationLn 22$808K$808K
InsuranceLn 23$200K$200K
Other expenses (24a–d)Ln 24$558K$558K
All other expensesLn 24e$44K$44K
Total functional expensesLn 25$8.9M$8.9M$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $13.3M$8.9M$4.4M−$909K 990 PDF
FY2023 $16.6M$7.9M$8.6M−$2.7M 990 PDF
FY2022 $25.7M$9.8M$15.9M−$14.7M 990 PDF
FY2021 $8.6M$5.9M$2.6M−$1.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $13,281,155 across 6 lines filed
VIII-1d Related organizations$7,078,642
VIII-1e Government grants$2,005,254
VIII-1h Total contributions, gifts and grants$9,083,896
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,032,414$4,032,414
VIII-3 Investment incomeExcluded from tax $164,845$164,845
VIII-12 Total revenueRelated to mission $4,032,414 · Unrelated business $0 · Excluded from tax $164,845$13,281,155
Part IX · Statement of functional expenses $8,877,177 across 17 lines filed
IX-7 Other salaries and wagesPrograms $688,441$688,441
IX-8 Pension plan contributionsPrograms $23,380$23,380
IX-9 Other employee benefitsPrograms $153,887$153,887
IX-10 Payroll taxesPrograms $49,257$49,257
IX-11a Management feesPrograms $196,976$196,976
IX-11b Legal feesPrograms $1,405$1,405
IX-11c Accounting feesPrograms $40,662$40,662
IX-13 Office expensesPrograms $64,347 · Management $3,870$68,217
IX-14 Information technologyPrograms $36,807 · Management $343$37,150
IX-16 OccupancyPrograms $350,193$350,193
IX-19 Conferences, conventions and meetingsPrograms $5,084$5,084
IX-20 InterestPrograms $946,234$946,234
IX-21 Payments to affiliatesPrograms $4,705,969$4,705,969
IX-22 Depreciation, depletion and amortizationPrograms $808,141$808,141
IX-23 InsurancePrograms $200,360$200,360
IX-24 Other expenses (24a–d)Programs $557,679$557,679
IX-24e All other expensesPrograms $44,142$44,142
IX-25 Total functional expensesPrograms $8,872,964 · Management $4,213 · Fundraising $0$8,877,177
Part X · Balance sheet $90,922,611 assets, 16 lines filed
Asset lines not itemized here account for $48,716; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,894,354$2,904,944
X-4 Accounts receivableStart of year $198,354$848,087
X-9 Prepaid expenses and deferred chargesStart of year $119,001$116,706
X-10c Land, buildings and equipment, netStart of year $4,745,083$35,790,712
X-13 Program-related investmentsStart of year $42,265,788$50,796,229
X-14 Intangible assetsStart of year $38,797$37,687
X-15 Other assetsStart of year $44,163,466$379,530
X-16 Total assetsStart of year $97,005,044$90,922,611
X-17 Accounts payable and accrued expensesStart of year $3,492,630$898,346
X-19 Deferred revenueStart of year $50,355$867
X-24 Unsecured notes and loans payableStart of year $14,496,908$8,901,495
X-25 Other liabilitiesStart of year $8,224,438$10,701,934
X-26 Total liabilitiesStart of year $99,727,510$91,832,052
X-27 Net assets without donor restrictionsStart of year −$2,722,466−$909,441
X-32 Total net assets or fund balancesStart of year −$2,722,466−$909,441
X-33 Total liabilities and net assetsStart of year $97,005,044$90,922,611
Part XI · Reconciliation of net assets −$909,441 net assets at year end
XI-1 Total revenue$13,281,155
XI-2 Total expenses$8,877,177
XI-3 Revenue less expenses$4,403,978
XI-4 Net assets at start of year−$2,722,466
XI-9 Other changes in net assets−$2,590,953
XI-10 Net assets at end of year−$909,441

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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