Life Management INC FY2023 filing

Tax-deductible

Montclair, NJ501(c)(3)Since 1997Human ServicesEIN 22-3519521

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To promote the quality of Life for individuals vulnerable to crisis of daily living due to age, disability or socio-economic status, and foster affordable housing.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
$168K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
5 of 5
filings with a surplus
Average surplus $3.4M a year · 73% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$168K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$84.2M
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
-80% vs prior year
Spent
$913K
To programs
89%
Net assets
$11.2M
By yearFY2020–FY2024
Revenue
$1.8M
FY2023▼ -80%
Revenue by fiscal year
FY2020$833K
FY2021$2.7M
FY2022$8.8M
FY2023$1.8M
FY2024$9.1M
Expenses
$913K
FY2023▲ +25%
Expenses by fiscal year
FY2020$768K
FY2021$842K
FY2022$730K
FY2023$913K
FY2024$2.9M
Net assets
$11.2M
FY2023▲ +8%
Net assets by fiscal year
FY2020$455K
FY2021$2.3M
FY2022$10.4M
FY2023$11.2M
FY2024$17.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2023 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 Feb 1998.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $815K Management & general 11% · $98K

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

4 people listed on the 990; $168K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairperson/Exec. Director
$107,043Pt VII · Sec A
Vice Chairperson/Ops. Dir.
$55,635Pt VII · Sec A
Treasurer
$5,250Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Barbara Havlik’s $110K as Chairperson/Exec. Director is at the 44th percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Barbara Havlik$109,950$107,043$97,131$91,550$80,114
Ellen Paretti$57,000$55,635$51,052$51,019$36,002
Debra Neier—$5,250$2,250$2,000$4,250

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aNo

Programs and updates

Helps vulnerable people improve their lives and find affordable housing.

Provided by the organization

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3 program services account for $815K of program spending, described in the organization's own filed words · FY2023.
01

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.

$358Kprogram expense
02

Life management inc. Provides assistance to 231 senior citizens in the form of residential maintenance programs.

$294Kprogram expense
03

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.

$163Kprogram 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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.3M
Fees for servicesLn 2g$507K
Investment incomeLn 3$4K
Money outPt IX
$913K
Ln 25
Programscol B$815K
Managementcol C$98K
Owns and owesPt X
$11.2M
net assets · Ln 32
Cash and savingsLn 1–2$168K
Total assetsLn 16$95.4M
LiabilitiesLn 26$84.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A3
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$944K
Fees for servicesLn 2g$507K
Investment incomeLn 3$4K
Gains on assetsLn 7$4K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$168K
Cash and savings togetherLn 1–2$168K
InvestmentsLn 11–13$91.3M
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$2.3M
Total assetsLn 16$95.4M
LiabilitiesLn 26$84.2M
Net assetsLn 32$11.2M
OperationsPt I, VI
EmployeesI 518
VolunteersI 61
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 FY23End FY23
Cash and savingsLn 1–2$181K$168K
InvestmentsLn 11–13$69.6M$91.3M
Land, buildings, equipmentLn 10c$830K$1.1M
Total assetsLn 16$80.5M$95.4M
LiabilitiesLn 26$70.1M$84.2M
Net assetsLn 32$10.4M$11.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$163K$154K$9K
Other salaries and wagesLn 7$231K$223K$8K
Payroll taxesLn 10$28K$27K$1K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$85K$45K$40K
Other fees for servicesLn 11g$292K$286K$6K
Office expensesLn 13$22K$3K$19K
Information technologyLn 14$2K$2K
OccupancyLn 16$10K$9K$440
TravelLn 17$3K$3K
Depreciation, depletion and amortizationLn 22$5K$5K
InsuranceLn 23$19K$17K$2K
Other expenses (24a–d)Ln 24$47K$46K$700
Total functional expensesLn 25$913K$815K$98K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $9.1M$2.9M$6.2M$17.4M 990 PDF
FY2023 Viewing $1.8M$913K$869K$11.2M 990 PDF
FY2022 $8.8M$730K$8.1M$10.4M 990 PDF
FY2021 $2.7M$842K$1.8M$2.3M 990 PDF
FY2020 $833K$768K$64K$455K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $1,781,675 across 7 lines filed
VIII-1e Government grants$943,570
VIII-1f All other contributions, gifts and grants$327,618
VIII-1h Total contributions, gifts and grants$1,271,188
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $506,626$506,626
VIII-3 Investment incomeExcluded from tax $51$51
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,810$3,810
VIII-12 Total revenueRelated to mission $506,626 · Unrelated business $0 · Excluded from tax $3,861$1,781,675
Part IX · Statement of functional expenses $912,847 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $153,955 · Management $8,723$162,678
IX-7 Other salaries and wagesPrograms $222,996 · Management $7,507$230,503
IX-10 Payroll taxesPrograms $27,081 · Management $1,166$28,247
IX-11b Legal feesManagement $7,500$7,500
IX-11c Accounting feesPrograms $44,675 · Management $39,996$84,671
IX-11g Other fees for servicesPrograms $286,304 · Management $5,975$292,279
IX-13 Office expensesPrograms $2,998 · Management $18,553$21,551
IX-14 Information technologyPrograms $1,566$1,566
IX-16 OccupancyPrograms $9,160 · Management $440$9,600
IX-17 TravelPrograms $3,016$3,016
IX-22 Depreciation, depletion and amortizationManagement $5,000$5,000
IX-23 InsurancePrograms $17,005 · Management $2,166$19,171
IX-24 Other expenses (24a–d)Programs $46,365 · Management $700$47,065
IX-25 Total functional expensesPrograms $815,121 · Management $97,726 · Fundraising $0$912,847
Part X · Balance sheet $95,390,910 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $180,535$167,545
X-3 Pledges and grants receivableStart of year $8,073,164$102,242
X-4 Accounts receivableStart of year $328,503$411,468
X-10c Land, buildings and equipment, netStart of year $830,000$1,115,500
X-12 Other securitiesStart of year $2,101$2,301
X-13 Program-related investmentsStart of year $69,571,654$91,293,410
X-15 Other assetsStart of year $1,465,085$2,298,444
X-16 Total assetsStart of year $80,451,042$95,390,910
X-17 Accounts payable and accrued expensesStart of year $47,315$63,240
X-26 Total liabilitiesStart of year $70,084,054$84,155,094
X-27 Net assets without donor restrictionsStart of year $2,366,988$11,235,816
X-28 Net assets with donor restrictionsStart of year $8,000,000$0
X-32 Total net assets or fund balancesStart of year $10,366,988$11,235,816
X-33 Total liabilities and net assetsStart of year $80,451,042$95,390,910
Part XI · Reconciliation of net assets $11,235,816 net assets at year end
XI-1 Total revenue$1,781,675
XI-2 Total expenses$912,847
XI-3 Revenue less expenses$868,828
XI-4 Net assets at start of year$10,366,988
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$11,235,816

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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