Civic Intelligence

Jewish Community Housing for the Elderly III Inc

990 • Fiscal year 2020 • EIN 04-2609432

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileWWW.2LIFECOMMUNITIES.ORG
30 Wallingford RoadBrighton, MA 02135

(617) 912-8400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.21x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

1.54x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

46th percentile

$325,432

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

96th percentile

92%

Faster asset growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

96th percentile

137%

Faster revenue growth than 96% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Up

$62,631,519

Up $30,023,408 (+92%) from 2019

Net Assets

Up

$49,580,899

Up $26,466,201 (+114%) from 2019

Liabilities

Up

$13,050,620

Up $3,557,207 (+37%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin98th percentile

Revenue

Up

$8,497,057

Up $4,911,720 (+137%) from 2019

Expenses

Up

$936,497

Up $14,106 (+1.5%) from 2019

Net Income

Up

$7,560,560

Up $4,897,614 (+184%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2010: $17,409,407Liabilities 2010: $401,274Net Assets 2010: $17,008,1332010Assets 2011: $26,880,561Liabilities 2011: $7,816,259Net Assets 2011: $19,064,3022011Assets 2012: $27,192,257Liabilities 2012: $7,654,361Net Assets 2012: $19,537,8962012Assets 2013: $27,841,394Liabilities 2013: $7,634,931Net Assets 2013: $20,206,4632013Assets 2014: $28,265,289Liabilities 2014: $7,684,752Net Assets 2014: $20,580,5372014Assets 2015: $28,906,469Liabilities 2015: $7,978,649Net Assets 2015: $20,927,8202015Assets 2016: $28,704,472Liabilities 2016: $7,685,436Net Assets 2016: $21,019,0362016Assets 2017: $28,500,405Liabilities 2017: $7,828,431Net Assets 2017: $20,671,9742017Assets 2018: $27,707,791Liabilities 2018: $8,153,978Net Assets 2018: $19,553,8132018Assets 2019: $32,608,111Liabilities 2019: $9,493,413Net Assets 2019: $23,114,6982019Assets 2020: $62,631,519Liabilities 2020: $13,050,620Net Assets 2020: $49,580,8992020Assets 2021: $71,180,944Liabilities 2021: $12,292,495Net Assets 2021: $58,888,4492021Assets 2022: $79,101,869Liabilities 2022: $16,856,192Net Assets 2022: $62,245,6772022Assets 2023: $91,836,133Liabilities 2023: $18,170,359Net Assets 2023: $73,665,7742023Assets 2024: $110,419,338Liabilities 2024: $31,915,667Net Assets 2024: $78,503,6712024

Highlighted filing

2020

Assets$62,631,519
Liabilities$13,050,620
Net Assets$49,580,899
Open 2020 Filing

Operations Trend

Revenue Growth96th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2010: $3,331,262Expenses 2010: $1,259,374Net Income 2010: $2,071,8882010Revenue 2011: $2,558,966Expenses 2011: $293,567Net Income 2011: $2,265,3992011Revenue 2012: $615,125Expenses 2012: $134,823Net Income 2012: $480,3022012Revenue 2013: $659,366Expenses 2013: $24,069Net Income 2013: $635,2972013Revenue 2014: $655,590Expenses 2014: $248,831Net Income 2014: $406,7592014Revenue 2015: $725,232Expenses 2015: $371,976Net Income 2015: $353,2562015Revenue 2016: $473,659Expenses 2016: $393,439Net Income 2016: $80,2202016Revenue 2017: $341,284Expenses 2017: $906,921Net Income 2017: -$565,6372017Revenue 2018: $380,380Expenses 2018: $1,097,583Net Income 2018: -$717,2032018Revenue 2019: $3,585,337Expenses 2019: $922,391Net Income 2019: $2,662,9462019Revenue 2020: $8,497,057Expenses 2020: $936,497Net Income 2020: $7,560,5602020Revenue 2021: $18,442,494Expenses 2021: $9,717,633Net Income 2021: $8,724,8612021Revenue 2022: $6,196,005Expenses 2022: $1,638,588Net Income 2022: $4,557,4172022Revenue 2023: $11,934,871Expenses 2023: $1,693,803Net Income 2023: $10,241,0682023Revenue 2024: $6,071,722Expenses 2024: $2,101,364Net Income 2024: $3,970,3582024

Highlighted filing

2020

Revenue$8,497,057
Expenses$936,497
Net Income$7,560,560
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$8,497,057
Mission and Program Overview

Mission

The entity provides real estate development support for new construction and renovation activities to related jche entities in their mission to provide housing to low income seniors and the handicapped.

SEE SCHEDULE O.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$14,860,718$33,673,989▲ $18,813,271
Investments Other Securities$9,579,002$10,324,861▲ $745,859
Accounts Receivable$1,679,889$2,954,389▲ $1,274,500
Cash and Non-Interest-Bearing Accounts$1,800,208$1,074,616▼ $725,592
Prepaid Expenses and Deferred Charges$8,615--
Total Assets$32,608,111$62,631,519▲ $30,023,408
Other Assets Total$4,679,679$14,603,664▲ $9,923,985
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,985,743$11,735,743▲ $2,750,000
Other Liabilities$263,644$957,688▲ $694,044
Accounts Payable and Accrued Expenses$244,026$357,189▲ $113,163
Total Liabilities$9,493,413$13,050,620▲ $3,557,207
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,114,698$49,580,899▲ $26,466,201
Total Net Assets Fund Balance$23,114,698$49,580,899▲ $26,466,201
Total Liabilities and Net Assets / Fund Balance$32,608,111$62,631,519▲ $30,023,408

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$13,633,576--
Other Securities$10,324,861--
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Bill ShaevelChairman
Amy SchectmanPresident/assistant Clerk
Karen EdlundVice President/treasurer
Bernard KaplanDirector
Donna KalikowDirector
Edward SaxeDirector
Jeff SacksDirector
Norman PosnerDirector
Janet FreedDirector of Human Resources
Lizbeth HeyerClerk
Diane LeemingEmployee
Elijah LapsonEmployee
JOE O'TOOLEEmployee
John F LutzEmployee
Revenue and Support

Revenue Composition

Contributions and Grants
$6,153,464
Program Service Revenue
$2,067,455
Investment Income
$267,496
Other Revenue
$8,642
Change in Net Assets
$7,560,560

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,497,057
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$8,497,057
Total Revenue per Form 990
$8,497,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$877,837
Other Expenses$58,660
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$698,223--$698,223
Other Employee Benefits$121,944--$121,944
Payroll Taxes$44,382--$44,382
Fees for Services Accounting-$18,530-$18,530
Pension Plan Contributions$13,288--$13,288
Office Expenses-$3,985-$3,985
Other Expenses$3,350$2,842-$2,842
Conferences and Meetings-$1,640-$1,640
Travel-$442-$442
All Other Expenses-$283-$283
Advertising-$79-$79
Total Functional Expenses$887,539$48,958$0$936,497

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$936,497
Total Expenses per Audited Statements$936,497
Total Expenses per Form 990$936,497
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Liabilities$867,199
Due to Affiliates$90,489
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The corporation by-laws to 2life communities inc. Consent to being admitted as the sole member of the following entities: friends of 2life communities inc. 2life communities services inc. 2life realty inc. 2life development inc. Jewish community housing for the elderly iv, inc. Jewish community housing for the elderly v, inc. 2life partners inc.”

Form 990, Part VI, Section A, Line 7A

“Same explanation as form 990, part vi, section a, line 6”

Form 990, Part VI, Section B, Line 11B

“The board of directors delegates to the audit committee the review and approval of the corporation's form 990 annually. Subsequent to its approval, the audit committee will then issue a report to the board and insure that the complete form 990 is made available to all directors for their review.”

Form 990, Part VI, Section B, Line 12C

“Each director is required annually to disclose in writing any conflicts of interest between the organization and the director and/or family members.”

Form 990, Part VI, Section B, Line 15

“All employees' salaries are paid by 2life communities services inc. Each employee devotes a portion of his/her time to various 2life entities. Salary expenses are then appropriately allocated and charged to the 2life entities.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and policies are available for public inspection at the organization's office during regular business hours upon request.”

Filing and Contact Details

Filer

Filer Name
2life Development Inc
EIN
04-2609432
Phone
6179128400
Address
30 WALLINGFORD ROAD, BRIGHTON, MA 02135

Signing Officer

Name
Karen Edlund
Title
Officer
Phone
6179128400
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Edlund
Formed
1975
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
500 EAST PRATT STREET 4TH FLOOR, BALTIMORE, MD 21202
Preparer
Philip H Cornblatt
Phone
4107834900
Supplemental Narrative

Additional Explanations

Mission Statement

“The entity provides real estate development support for new construction and renovation activities to related 2life entities in their mission to provide housing to low income seniors and the handicapped.”

FORM 990, PART XI, LINE 9:

“Transfer of notes receivable in merger 18,487,836.”

Part XII, Line 2C

“There has not been a change to the oversight process or selection process during the tax year. On 12/30/2020, two related nonprofit organizations were merged into 2life development with 2life development the surviving organization.”

Financial Statement Notes

PART X, LINE 2:

“The organization has applied for and received a determination letter from the internal revenue service ("irs") to be treated as a tax-exempt entity pursuant to section 501(c)(3) of the internal revenue code and did not have any unrelated business income for the year ended december 31, 2020. Due to its tax-exempt status, the organization is not subject to income taxes. The organization is required to file and does file tax returns with the irs and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes, and the organization has no other tax positions which must be considered for disclosure. Income tax returns filed by the organization are subject to examination by the internal revenue service for a period of three years. While no income tax returns are currently being examined by the internal revenue service, tax years since 2017 remain open.”

Raw XML AppendixShowing 400 of 998 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt02LIFE COMMUNITIES INC
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt4FRIENDS OF 2LIFE COMMUNITIES INC
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$62,631,519
Liabilities
$13,050,620
Net assets
$49,580,899
Revenue
$8,497,057
Expenses
$936,497
Net income
$7,560,560
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$31.9$78.5$6.07$2.10$3.97
2023Detailed filing. Detailed filing data is available for this year.$91.8$18.2$73.7$11.9$1.69$10.2
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.1$16.9$62.2$6.20$1.64$4.56
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$71.2$12.3$58.9$18.4$9.72$8.72
2020Detailed filing. Detailed filing data is available for this year.$62.6$13.1$49.6$8.50$0.94$7.56
2019Summary only. Only limited summary data is available for this year.$32.6$9.49$23.1$3.59$0.92$2.66
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.7$8.15$19.6$0.38$1.10$0.72
2017Detailed filing. Detailed filing data is available for this year.$28.5$7.83$20.7$0.34$0.91$0.57
2016Detailed filing. Detailed filing data is available for this year.$28.7$7.69$21.0$0.47$0.39$0.08
2015Detailed filing. Detailed filing data is available for this year.$28.9$7.98$20.9$0.73$0.37$0.35
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$28.3$7.68$20.6$0.66$0.25$0.41
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$27.8$7.63$20.2$0.66$0.02$0.64
2012Summary only. Only limited summary data is available for this year.$27.2$7.65$19.5$0.62$0.13$0.48
2011Summary only. Only limited summary data is available for this year.$26.9$7.82$19.1$2.56$0.29$2.27
2010Summary only. Only limited summary data is available for this year.$17.4$0.40$17.0$3.33$1.26$2.07
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)3 • $50M-$100M nonprofits