Civic Intelligence

Bartlett Woods Inc

EIN 22-3278800 • 501(c)3 • Rockland, ME

Profile

It is the mission of bartlett woods to provide high quality housing, assisted living services, access to health-care and recreational opportunities to adults over the age of 55 who desire such services within a peaceful, accommodating, and friendly living environment. We will provide such housing and service with a focus of enhancing the self-sufficiency and quality of life for each individual resident by demonstrating the utmost concern for independence, dignity, and individual choice.

20 Bartlett DriveRockland, ME 04841

www.bartlettwoods.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.92x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

1.74x

Higher debt load relative to revenue than 90% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

60th percentile

9.3%

Higher net margin than 60% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

61st percentile

8.8%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

69th percentile

19%

Faster revenue growth than 69% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$6,078,713

Up $493,098 (+8.8%) from 2023

Liabilities

Up

$5,620,795

Up $120,660 (+2.2%) from 2023

Net Assets

Up

$457,918

Up $372,438 (+436%) from 2023

Revenue

Up

$3,237,322

Up $509,031 (+19%) from 2023

Expenses

Up

$2,935,615

Up $110,939 (+3.9%) from 2023

Net Income

Up

$301,707

Up $398,092 (+413%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $3,363,109Liabilities 2010: $3,008,578Net Assets 2010: $354,5312010Assets 2011: $3,308,820Liabilities 2011: $2,927,839Net Assets 2011: $380,9812011Assets 2012: $6,594,415Liabilities 2012: $6,540,265Net Assets 2012: $54,1502012Assets 2013: $7,394,287Liabilities 2013: $7,424,143Net Assets 2013: -$29,8562013Assets 2014: $7,099,452Liabilities 2014: $7,319,541Net Assets 2014: -$220,0892014Assets 2015: $6,812,255Liabilities 2015: $7,160,283Net Assets 2015: -$348,0282015Assets 2016: $6,579,805Liabilities 2016: $6,942,346Net Assets 2016: -$362,5412016Assets 2017: $6,383,734Liabilities 2017: $6,761,043Net Assets 2017: -$377,3092017Assets 2018: $6,329,660Liabilities 2018: $6,596,815Net Assets 2018: -$267,1552018Assets 2019: $6,395,668Liabilities 2019: $6,816,363Net Assets 2019: -$420,6952019Assets 2020: $6,310,405Liabilities 2020: $6,580,019Net Assets 2020: -$269,6142020Assets 2021: $6,101,412Liabilities 2021: $6,553,838Net Assets 2021: -$452,4262021Assets 2022: $5,886,687Liabilities 2022: $5,704,822Net Assets 2022: $181,8652022Assets 2023: $5,585,615Liabilities 2023: $5,500,135Net Assets 2023: $85,4802023Assets 2024: $6,078,713Liabilities 2024: $5,620,795Net Assets 2024: $457,9182024

Highlighted filing

2024

Assets$6,078,713
Liabilities$5,620,795
Net Assets$457,918

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $1,343,330Expenses 2010: $1,329,475Net Income 2010: $13,8552010Revenue 2011: $1,386,784Expenses 2011: $1,360,334Net Income 2011: $26,4502011Revenue 2012: $1,399,798Expenses 2012: $1,726,629Net Income 2012: -$326,8312012Revenue 2013: $1,675,449Expenses 2013: $1,916,119Net Income 2013: -$240,6702013Revenue 2014: $2,190,239Expenses 2014: $2,192,302Net Income 2014: -$2,0632014Revenue 2015: $2,031,747Expenses 2015: $2,121,382Net Income 2015: -$89,6352015Revenue 2016: $1,962,383Expenses 2016: $2,013,523Net Income 2016: -$51,1402016Revenue 2017: $2,026,462Expenses 2017: $2,090,798Net Income 2017: -$64,3362017Revenue 2018: $2,293,523Expenses 2018: $2,227,525Net Income 2018: $65,9982018Revenue 2019: $2,384,662Expenses 2019: $2,289,155Net Income 2019: $95,5072019Revenue 2020: $2,514,030Expenses 2020: $2,362,949Net Income 2020: $151,0812020Revenue 2021: $2,284,525Expenses 2021: $2,409,978Net Income 2021: -$125,4532021Revenue 2022: $3,194,190Expenses 2022: $2,559,902Net Income 2022: $634,2882022Revenue 2023: $2,728,291Expenses 2023: $2,824,676Net Income 2023: -$96,3852023Revenue 2024: $3,237,322Expenses 2024: $2,935,615Net Income 2024: $301,7072024

Highlighted filing

2024

Revenue$3,237,322
Expenses$2,935,615
Net Income$301,707

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.08$5.62$0.46$3.24$2.94$0.30
2023Detailed filing. Detailed filing data is available for this year.$5.59$5.50$0.09$2.73$2.82$0.10
2022Detailed filing. Detailed filing data is available for this year.$5.89$5.70$0.18$3.19$2.56$0.63
2021Detailed filing. Detailed filing data is available for this year.$6.10$6.55$0.45$2.28$2.41$0.13
2020Detailed filing. Detailed filing data is available for this year.$6.31$6.58$0.27$2.51$2.36$0.15
2019Detailed filing. Detailed filing data is available for this year.$6.40$6.82$0.42$2.38$2.29$0.10
2018Detailed filing. Detailed filing data is available for this year.$6.33$6.60$0.27$2.29$2.23$0.07
2017Detailed filing. Detailed filing data is available for this year.$6.38$6.76$0.38$2.03$2.09$0.06
2016Detailed filing. Detailed filing data is available for this year.$6.58$6.94$0.36$1.96$2.01$0.05
2015Detailed filing. Detailed filing data is available for this year.$6.81$7.16$0.35$2.03$2.12$0.09
2014Detailed filing. Detailed filing data is available for this year.$7.10$7.32$0.22$2.19$2.19$0.00
2013Detailed filing. Detailed filing data is available for this year.$7.39$7.42$0.03$1.68$1.92$0.24
2012Summary only. Only limited summary data is available for this year.$6.59$6.54$0.05$1.40$1.73$0.33
2011Summary only. Only limited summary data is available for this year.$3.31$2.93$0.38$1.39$1.36$0.03
2010Summary only. Only limited summary data is available for this year.$3.36$3.01$0.35$1.34$1.33$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 26, 2025
Return Version
2024v5.0
Gross Receipts
$3,237,322
Mission and Program Overview

Mission

It is the mission of bartlett woods to provide high quality housing, assisted living services, access to health-care and recreational opportunities to adults over the age of 55 who desire such services within a peaceful, accommodating, and friendly living environment. We will provide such housing and service with a focus of enhancing the self-sufficiency and quality of life for each individual resident by demonstrating the utmost concern for independence, dignity, and individual choice.

To provide high quality housing and assisted living services to adults over the age of 55.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,868,784$4,020,513▲ $151,729
Savings and Temporary Cash Investments$938,548$722,978▼ $215,570
Accounts Receivable$49,478$344,276▲ $294,798
Cash and Non-Interest-Bearing Accounts$231,888$150,019▼ $81,869
Prepaid Expenses and Deferred Charges$54,912$51,640▼ $3,272
Total Assets$5,585,615$6,078,713▲ $493,098
Other Assets Total$442,005$789,287▲ $347,282
Liabilities
Tax Exempt Bond Liabilities$5,122,299$5,067,393▼ $54,906
Accounts Payable and Accrued Expenses$376,157$551,287▲ $175,130
Deferred Revenue$1,679$2,115▲ $436
Total Liabilities$5,500,135$5,620,795▲ $120,660
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$85,480$457,918▲ $372,438
Total Net Assets Fund Balance$85,480$457,918▲ $372,438
Total Liabilities and Net Assets / Fund Balance$5,585,615$6,078,713▲ $493,098

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,204,356$3,656,688$6,861,044
Equipment$571,611$770,564$1,342,175
Other Land Buildings$55,246$457,981$513,227
Land$189,300-$189,300
Other Assets Org$163,465--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary EadsExecutive DiFT$79,178$5,263$84,441
Kelly OsbornExecutive DiFT$71,920$2,158$74,078

Board Members and Trustees

NameTitle
J Michael LaneBoard Chair
James Brannan EsqBoard Member
W Kevin Olehnik MdBoard Member
William ChaseBoard Member
Marion GrantSecretary
Josee ShelleyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
SolarlogixConstruction18 SEARSPORT AVE, Belfast, ME 04915$105,322
Revenue and Support

Revenue Composition

Contributions and Grants
$327,656
Program Service Revenue
$2,823,344
Investment Income
$46,544
Other Revenue
$39,778
All Other Contributions
$327,656
Change in Net Assets
$301,707

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,237,322
Total Revenue per Audited Statements
$3,237,322
Total Revenue per Form 990
$3,237,322
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,736,818
Other Expenses$1,198,797
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,209,011$132,041-$1,341,052
Depreciation Depletion$297,536--$297,536
Interest$178,332$3,212-$181,544
Occupancy$142,231$17,596-$159,827
Current Officers, Directors, Trustees, and Key Employees$31,704$126,815-$158,519
Other Employee Benefits$104,061$15,604-$119,665
Payroll Taxes$97,652$19,930-$117,582
Insurance$57,759$11,788-$69,547
Fees for Services Accounting-$48,546-$48,546
All Other Expenses$28,496$6,353-$34,849
Advertising$24,014--$24,014
Other Expenses$14,991$3,060-$18,051
Information Technology$13,341$2,723-$16,064
Fees for Services Management$2,189$7,983-$10,172
Office Expenses$8,107$1,654-$9,761
Fees for Services Legal$2,301$470-$2,771
Travel$2,147--$2,147
Fees for Services Other$895--$895
Total Functional Expenses$2,509,767$425,848$0$2,935,615

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,935,615
Total Expenses per Audited Statements$2,935,615
Total Expenses per Form 990$2,935,615
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMe Health & Higher Educ Fac Autho2019-11-06$5,679,923CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,679,923--$79,233

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

Committees cannot act without a board approval first.

Form 990, Page 6, Part VI, Line 11B

The executive director, board chair, and the treasurer of the board review the return prepared by the accountants before the return is filed. The 990 is available to all board members to review subsequent to filing.

Form 990, Page 6, Part VI, Line 12C

The board of directors is required to review the conflict of interest policy and sign a document stating they are familiar with the policy and are in compliance with the policy. This is completed by the executive director at the annual board meeting.

Form 990, Page 6, Part VI, Line 15A

The board approves the executive directors salary on an annual basis.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Bartlett Woods Inc
EIN
22-3278800
Phone
2075966477
Address
20 BARTLETT DRIVE, ROCKLAND, ME 04841

Signing Officer

Name
J Michael Lane
Title
Board Chair
Phone
2075931259
Signed
2025-06-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
J Michael Lane
Formed
1998
Legal Domicile
Me
Voting Board Members
6
Independent Board Members
6
Employees
52
Volunteers
7

Preparer

Firm
One River Cpas
Address
46 FIRSTPARK DRIVE, OAKLAND, ME 04963-5362
Preparer
Gary W Smith CPA
Phone
2078731603
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

It is the mission of bartlett woods to provide high quality housing, assisted living services, access to health-care and recreational opportunities to adults over the age of 55 who desire such services within a peaceful, accommodating, and friendly living environment. We will provide such housing and service with a focus of enhancing the self-sufficiency and quality of life for each individual resident by demonstrating the utmost concern for independence, dignity, and individual choice.

Form 990, Page 2, Part III, Line 4A

Bartlett woods is a 58 unit one and two bedroom apartment building in the city of rockland, me. Bartlett woods provides for the housing, healthcare, and financial security needs of the elderly and disabled persons 55 years of age plus on a non-profit basis in a manner which will support and contribute to the residents' continued good health, security, and usefulness within the community. Bartlett woods offers affordable independent housing for seniors 55+ at an everyday low cost. This encompasses all employees, administration, clerical, dietary, and activities. Bartlett woods offers assistance with the activities of daily living on an ala`carte basis. The organization is licensed by the department of health and human services in the state of maine. Bartlett woods is licensed as an assisted living program type ii and provides services to assist 35 residents with activities of daily living, escorts, reminders, and medication administration management. This arrangement makes bartlett woods unique in a way that does not separate the residents needing assistance from the residents who live independently. This is carried out by our healthcare employees.

Form 990, Part XI, Line 9

The prior period adjustment of 70,731 results from the organization's restatement of select 2023 balances to account for deposits held in trust and accrued interest related to bond obligations.

Financial Statement Notes

Schedule D, Page 3, Part X

Bartlett woods, inc. Is exempt from federal income taxes under section 501 (c)(3) of the internal revenue code. The organization is considered not to be a private foundation within the meaning of section 509(a)(1) of the code. In addition, the organization qualifies for the charitable contribution deduction under section 170(b)(1)(a). Management believes it has no uncertain tax positions with the internal revenue service that require disclosure in its financial statements.

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IRS990/Desc0BARTLETT WOODS IS A 58 UNIT ONE AND TWO BEDROOM APARTMENT BUILDING IN THE CITY OF ROCKLAND, ME. BARTLETT WOODS PROVIDES FOR THE HOUSING, HEALTHCARE, AND FINANCIAL SECURITY NEEDS OF THE ELDERLY AND DISABLED PERSONS 55 YEARS OF AGE PLUS ON A NON-PROFIT BASIS IN A MANNER WHICH WILL SUPPORT AND CONTRIBUTE TO THE RESIDENTS' CONTINUED GOOD HEALTH, SECURITY, AND USEFULNESS WITHIN THE COMMUNITY. BARTLETT WOODS OFFERS AFFORDABLE INDEPENDENT HOUSING FOR SENIORS 55+ AT AN EVERYDAY LOW COST. THIS ENCOMPASSES ALL EMPLOYEES, ADMINISTRATION, CLERICAL, DIETARY, AND ACTIVITIES. BARTLETT WOODS OFFERS ASSISTANCE WITH THE ACTIVITIES OF DAILY LIVING ON AN ALA`CARTE BASIS. THE ORGANIZATION IS LICENSED BY THE DEPARTMENT OF HEALTH AND HUMAN SERVICES IN THE STATE OF MAINE. BARTLETT WOODS IS LICENSED AS AN ASSISTED LIVING PROGRAM TYPE II AND PROVIDES SERVICES TO ASSIST 35 RESIDENTS WITH ACTIVITIES OF DAILY LIVING, ESCORTS, REMINDERS, AND MEDICATION ADMINISTRATION MANAGEMENT. THIS ARRANGEMENT MAKES BARTLETT WOODS UNIQUE IN A WAY THAT DOES NOT SEPARATE THE RESIDENTS NEEDING ASSISTANCE FROM THE RESIDENTS WHO LIVE INDEPENDENTLY. THIS IS CARRIED OUT BY OUR HEALTHCARE EMPLOYEES.
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IRS990/MissionDesc0IT IS THE MISSION OF BARTLETT WOODS TO PROVIDE HIGH QUALITY HOUSING, ASSISTED LIVING SERVICES, ACCESS TO HEALTH-CARE AND RECREATIONAL OPPORTUNITIES TO ADULTS OVER THE AGE OF 55 WHO DESIRE SUCH SERVICES WITHIN A PEACEFUL, ACCOMMODATING, AND FRIENDLY LIVING ENVIRONMENT. WE WILL PROVIDE SUCH HOUSING AND SERVICE WITH A FOCUS OF ENHANCING THE SELF-SUFFICIENCY AND QUALITY OF LIFE FOR EACH INDIVIDUAL RESIDENT BY DEMONSTRATING THE UTMOST CONCERN FOR INDEPENDENCE, DIGNITY, AND INDIVIDUAL CHOICE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BARTLETT WOODS, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION IS CONSIDERED NOT TO BE A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1) OF THE CODE. IN ADDITION, THE ORGANIZATION QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A). MANAGEMENT BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS WITH THE INTERNAL REVENUE SERVICE THAT REQUIRE DISCLOSURE IN ITS FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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