LYNNFIELD INITIATIVES FOR ELDERS INC Charity Report

Public IRS 990 nonprofit record

LYNNFIELD INITIATIVES FOR ELDERS INC

EIN 04-2775961 · Housing & Shelter (L22Z)

What they do

The Organization Was Incorporated On 12/17/1982 As A Not-for-profit Organization Under Massachusetts Law to Provide Housing Within The Town of Lynnfield for Elderly, Aged or Handicapped Persons. The Organization is Located In Lynnfield, Massachusetts, and Presently Operates Three Housing Complexes, Center Village, Essex Village, and Colonial Village; Consising of 60, 66, and 48 Residential Units, Respectively. The Organization Provides Adequate Housing Facilities On A Not-for-profit Basis for The Use and Occupancy of Elderly, Aged or Handicapped Persons and Other Services Specially Designed to Meet The Physical, Social and Psychological Needs of The Elderly, Aged and Handicapped and to Promote Their Health. Security,and Happiness In Longer Living.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $96.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders6 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

153.12%of revenue went to mission work96.5% of expenses · Program services

$158.72spent for every $100 of revenueSpending was higher than revenue this year.

5.60%of revenue went to management and office costs3.5% of expenses

$6.52in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $1,107,240 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $71,880 for DAVE MAYERSON (FMR EXECUTIVE DIRECTOR). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$1,885,474

Mission workProgram services$2,887,039153.12% of revenue96.5% of expenses

ManagementOffice and general costs$105,6755.60% of revenue3.5% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Total expenses$2,992,714158.72% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 96.5% mission · 3.5% management · 0.0% fundraisingTotal expenses: 158.72% of revenue

2023Expense mix: 96.6% mission · 3.4% management · 0.0% fundraisingTotal expenses: 185.87% of revenue

2022Expense mix: 97.0% mission · 3.0% management · 0.0% fundraisingTotal expenses: 186.72% of revenue

2021Expense mix: 96.6% mission · 3.4% management · 0.0% fundraisingTotal expenses: 168.36% of revenue

2020Expense mix: 97.7% mission · 2.3% management · 0.0% fundraisingTotal expenses: 182.57% of revenue

2019Expense mix: 97.3% mission · 2.7% management · 0.0% fundraisingTotal expenses: 156.01% of revenue

2018Expense mix: 98.1% mission · 1.9% management · 0.0% fundraisingTotal expenses: 195.40% of revenue

Money in and money out

Revenue$1,885,474

Expenses$2,992,714

Annual shortfall $1,107,240 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$2,887,039 · 96.5% of expenses

Management and office costs$105,675 · 3.5% of expenses

See all reported dollar amounts

Revenue$1,885,474

Expenses$2,992,714

Assets$19,517,907

Income$2,438,879

Mission work (program services)$2,887,039

Management and general$105,675

Executive compensation (total)$30,348

Stocks and bonds$2,688,231

Accounting fees$55,443

Investing fees$26,781

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

DAVE MAYERSONFMR EXECUTIVE DIRECTOR · 30 hrs/week $71,880

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (6)

DAVE MAYERSONFMR EXECUTIVE DIRECTOR

BEVERLY MERRITTPRESIDENT

BRUCE GLINSKIVICE PRESIDENT

DANIEL MACINTYRETREASURER

GEORGE PARISFMR PRESIDENT

RONALD BLOCKCLERK

About this charity

Recognized since: January 1983
Location: 101 ESSEX VLG, LYNNFIELD, MA 01940-1269
County: Essex
In care of: Daniel Macintyre
Primary officer: Daniel Macintyre, Treasurer

How to reach them

WebsiteVisit the charity’s website EmailDavidM@LIFE-Inc.us Phone(781) 334-6066 Officer phone(781) 334-5689

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: DOUCETTE & DOUCETTE CPAS LLC
NTEE classification: Housing & Shelter (L22Z)
IRS tax category: Assisted Living Facilities for the Elderly