2Life Realty Inc

Overview

Mission

2life realty inc. Provides asset management, development services and funds for improvements to properties owned by related 2life entities that provide affordable housing to low income seniors.

What it reported doing in 2024

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

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Affiliate network. The nonprofit sent 100% of its reported program spending through affiliated organizations.

Nonprofit profile at a glance

EIN
042505972
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Headquarters
Brighton, MA, USA
Phone
6179128400
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Citizens' Housing/Retirement Communities
Affiliation
Judaism

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 26
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2,073.9%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 2.5; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 24.5% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: -10.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $5M in reported program spending
  • Leadership: top reported pay $340K · 10 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 10 annual filings from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 35 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

10 people listed

Highest reported compensation

  • LIZBETH HEYER (VICE PRESIDENT&CLERK/PRESIDENT): $340,398 total reported compensation
  • AMY SCHECTMAN (PRESIDENT, CEO): $318,679 total reported compensation
  • KAREN EDLUND (ASSISTANT TREASURER, CHIEF OF BUSINESS STRATEGY): $247,557 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.