2Life Partners Inc

Overview

Mission

2life builds & operates housing for low income seniors & offers services to enhance independence and dignity. Inspired by jewish values, 2life communities are nonsectarian. 2life partners, inc. ("partners") provides resident services for 2life's twelve hud subsidized senior developments owned and managed by related entities, that enable 2life's residents to age well and obtain the support needed to remain in their 2life homes. In addition, the organization develops the refinancing and renovation of 2life's oldest buildings, and the financing and construction of new publicly assisted affordable housing. The organization oversees property operations, including activities designed to insure compliance with all pertinent government regulations, and provides management support in areas of accounting and information technology.

What it reported doing in 2024

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

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 47% for direct work, and 53% for affiliated organizations.

Nonprofit profile at a glance

EIN
043584637
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-PF 2022
Headquarters
Brighton, MA, USA
Phone
6179128400
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 85
  • Accountability: 100
  • Sustainability: 79
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.2%; rating input score 67
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 6th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 33.2%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 10.24; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 1.6%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: -22% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -6.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 67.2% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $8.9M in reported program spending
  • Leadership: top reported pay $340K · 10 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 2 annual filings from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 40 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 (CEO, PRESIDENT): $318,679 total reported compensation
  • KAREN EDLUND (CHIEF OF BUSINESS STRATEGY/ASSISTANT TREASURER): $247,557 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.