Nonprofit · EIN 04-2775961
LYNNFIELD INITIATIVES FOR ELDERS INC
Tax-exempt · LYNNFIELD, MA 01940
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $1,885,474 | $2,992,714 | -$1,107,240 | $19,517,907 | $388,826 | $19,129,081 |
| June 30, 2024 | 990 | $1,669,899 | $3,103,822 | -$1,433,923 | $19,686,249 | $73,365 | $19,612,884 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,595,616
- Investment income
- $289,858
- Net gain from sales of assets
- $183,690
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $67,495
- Other salaries and wages
- $136,687
- Salaries, compensation and benefits (total)
- $221,489
- Professional fundraising fees
- $0
- Accounting fees
- $55,443
- Occupancy
- $103,762
- Depreciation
- $696,430
- Program services (functional)
- $2,887,039
- Management and general (functional)
- $105,675
Balance sheet and other
- Total assets, start of year
- $19,686,249
- Total assets, end of year
- $19,517,907
- Total liabilities, end of year
- $388,826
- Net assets, end of year
- $19,129,081
- Land, buildings and equipment
- $15,300,703
- Publicly traded securities
- $2,688,231
- Net assets without donor restrictions
- $19,129,081
- Gross receipts
- $2,438,879
- Employees
- 4
- Volunteers
- 0
- Year formed
- 1982
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Dave Mayerson | Fmr Executive Director Officer | 30 | $71,880 |
| Beverly Merritt | President Trustee or director, Officer | 3 | $0 |
| George Paris | Fmr President Trustee or director, Officer | 3 | $0 |
| Daniel Macintyre | Treasurer Trustee or director | 3 | $0 |
| Bruce Glinski | Vice President Trustee or director | 3 | $0 |
| Ronald Block | Clerk Trustee or director | 3 | $0 |
990 for the year ended June 30, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVE MAYERSON | EXECUTIVE DI Officer | 30 | $67,530 |
| JAMES WILKIE THRU 63024 | FMR TREASURE Trustee or director, Officer | 3 | $0 |
| SALVATORE YERARDI THRU 63024 | FMR PRESIDEN Trustee or director, Officer | 3 | $0 |
| GEORGE PARIS EFF 7124 | PRESIDENT Trustee or director, Officer | 3 | $0 |
| BRUCE GLINSKI | DIRECTOR Trustee or director | 3 | $0 |
| DANIEL MACINTYRE | CLERK Trustee or director | 3 | $0 |
| BEVERLY MERRITT | DIRECTOR Trustee or director | 3 | $0 |
| BRUCE SIEGEL | VP AND TREAS Trustee or director, Officer | 3 | $0 |
Address and contacts
- Address (IRS master file)
- 101 ESSEX VLG, LYNNFIELD, MA 01940-1269
- Principal officer (990 for 2024)
- Beverly Merritt, 604 Essex Village, Lynnfield, MA 01940
- Signed the 990
- Daniel Macintyre, Treasurer
- Phone
- (781) 334-6066
- Website
- http://www.life-inc.us
- Return prepared by
- DOUCETTE & DOUCETTE CPAS LLC
Mission
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.
Program accomplishments
- Affordable access to housing of 174 residential units located in Lynnfield, Massachusetts to elderly, aged or handicapped residents or former residents (as well as parents and siblings) of Lynnfield.Expenses $2,887,039 · revenue $1,595,616
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 04-2775961
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Suspense
- Donations deductible (Pub 78)
- Charity of unknown status, 50% limit
- Exempt since
- 1983
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L22Z)
- Assets (IRS master file)
- $19,517,907
- Income (IRS master file)
- $2,438,879
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $1,885,474 | $2,992,714 | $19,517,907 | IRS |
| 990 | June 2024 | $1,669,899 | $3,103,822 | $19,686,249 | XML |
| 990 | June 2023 | $1,575,920 | $2,942,483 | $19,944,980 | IRS |
| 990 | June 2022 | $1,584,154 | $2,667,145 | $20,688,994 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-2775961).
Questions about LYNNFIELD INITIATIVES FOR ELDERS INC
- What is the EIN of LYNNFIELD INITIATIVES FOR ELDERS INC?
- The employer identification number (EIN) of LYNNFIELD INITIATIVES FOR ELDERS INC is 04-2775961.
- Is LYNNFIELD INITIATIVES FOR ELDERS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to LYNNFIELD INITIATIVES FOR ELDERS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Charity of unknown status, 50% limit).
- Which annual return does LYNNFIELD INITIATIVES FOR ELDERS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LYNNFIELD INITIATIVES FOR ELDERS INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LYNNFIELD INITIATIVES FOR ELDERS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of LYNNFIELD INITIATIVES FOR ELDERS INC?
- The 990 for the year ended June 30, 2025 names Beverly Merritt.
- Who are the officers and directors of LYNNFIELD INITIATIVES FOR ELDERS INC?
- The 990 for the year ended June 30, 2025 lists 6 people; 1 received compensation from the organization, the highest $71,880 (Dave Mayerson, Fmr Executive Director).
- How much revenue does LYNNFIELD INITIATIVES FOR ELDERS INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $1,885,474, expenses of $2,992,714 and total assets of $19,517,907 at year end.
Other nonprofits in LYNNFIELD
- PUBLISHERS INTERNATIONAL LINKING ASSOCIATION INC EIN 04-3502255 · last filed 990 for 2024
- CAST INC EIN 22-2746879 · last filed 990 for 2025
- THE NILENDU AND RENU SRIVASTAVA FAMILY FOUNDTION EIN 81-4679378 · last filed 990-PF for 2025
- MASSACHUSETTS ELKS SCHOLARSHIP INC EIN 04-6050451 · last filed 990 for 2026
- SPERO CHARITABLE FOUNDATION EIN 04-6183682 · last filed 990-PF for 2024
- INTERNATIONAL BROTHERHOOD OF TEAMSTERS EIN 04-1894980 · last filed 990 for 2024
- LYNNFIELD YOUTH HOCKEY ASSN INC EIN 23-7168329 · last filed 990 for 2025
- KOUROUBACALIS CHARITABLE FOUNDATION EIN 04-3446348 · last filed 990-PF for 2025
All nonprofits in LYNNFIELD · Massachusetts · Housing and shelter