NEW ENGLAND LIFE PLAN COMMUNITIES CORP

EIN: 873705424 501(c)(3) Housing & Shelter

LINCOLN, MA

Total Revenue
$23,947,580
Total Expenses
$41,522,325
Total Assets
$159,326,560
Net Assets
$-43,422,095
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
MA
Principal Officer
LARRY BRADSHAW
Phone
7813385985
Tax Period
2023-01-01 to 2023-12-31

NEW ENGLAND LIFE PLAN COMMUNITIES CORP, founded in 2021, is a mid-sized nonprofit in the Housing & Shelter sector that reported $23.9M in total revenue in fiscal year 2023. Expenses of $41.5M exceeded revenue, resulting in a 73% operating deficit.

Mission

NEW ENGLAND LIFE PLAN COMMUNITIES (NELPC) IS A LEADER AND INNOVATOR OF SERVICES FOR OLDER ADULTS, PROMOTING TRANSPARENCY, INCLUSIVITY AND COMMUNITY INTEGRATION WITHIN A CULTURE OF SOCIAL AWARENESS, WORKFORCE EQUITY AND ENVIRONMENTAL STEWARDSHIP.

Program Service Accomplishments

Program 1
Expenses: $40,281,220 Revenue: $23,128,595

NEW ENGLAND LIFE PLAN COMMUNITIES CORP OWNS AND OPERATES A SENIOR LIVING COMMUNITY LOCATED IN LINCOLN, MASSACHUSETTS, KNOWN AS THE COMMONS IN LINCOLN (THE COMMUNITY). THE COMMUNITY IS SITUATED ONA 30...

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NEW ENGLAND LIFE PLAN COMMUNITIES CORP OWNS AND OPERATES A SENIOR LIVING COMMUNITY LOCATED IN LINCOLN, MASSACHUSETTS, KNOWN AS THE COMMONS IN LINCOLN (THE COMMUNITY). THE COMMUNITY IS SITUATED ONA 30 ACRES CAMPUS CONSISTING OF 168 INDEPENDENT LIVING UNITS ACROSS TWO MAIN APARTMENT-STYLE BUILDINGS AND 38 COTTAGES. THE COMMUNITY ALSO INCLUDES A HEALTH CARE FACILITY CONSISTING OF A 40 UNIT ASSISTED LIVING FACILITY, A 24 UNIT MEMORY CARE FACILITY, A 32 BED SKILLED NURSING FACILITY, AND AN ASSISTED REHABILITATION UNIT ON SIT ETO PROVIDE THE SERVICES OF A CONTINUING CARE RETIREMENT COMMUNITY. EIGHT OF THE COMMUNITY'S INDEPENDENT LIVING UNITS ARE DESIGNATED AS LOW AND MODERATE INCOME UNITS. MONTHLY RENTAL RATES FOR THESE UNITS ARE RESTRICTED TO MAXIMUM ALLOWABLE AMOUNTS BASED ON THE RESIDENT'S INCOME.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $194,076
Program Service Revenue $23,128,595
Investment Income $624,909
Other Revenue $0
TOTAL REVENUE $23,947,580

Expense Breakdown

Grants Paid $0
Salaries & Benefits $12,892,190
Fundraising Expenses $0
Program Expenses $40,281,220
Other Expenses $28,630,135
TOTAL EXPENSES $41,522,325

Year-over-Year Comparison

2023 2022 Change
Revenue $23,947,580 N/A N/A
Expenses $41,522,325 N/A N/A
Net Income $-17,574,745 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
4

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARRY BRADSHAW CHAIRMAN 5.00
Officer Director
$0 $0 $0
JEFF CARPENTER TREASURER 2.00
Officer Director
$0 $0 $0
PHILIPPE SAAD SECRETARY 1.00
Officer Director
$0 $0 $0
KATHRYN BROD BOARD MEMBER 1.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $23,947,580 $41,522,325 $159,326,560 $-17,574,745
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