Bartlett Woods Inc
- Assets
- $5.6m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 50
- Location
- Rockland, ME
- Founding
- 11/1994
- Data as of
- 12/2023
- EIN
- 22-3278800
Organization Overview
Bartlett Woods Inc is located in Rockland, ME. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Bartlett Woods Inc employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bartlett Woods Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Bartlett Woods Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HIGH QUALITY HOUSING AND ASSISTED LIVING SERVICES TO ADULTS OVER THE AGE OF 55.
Describe the Organization's Program Activity:
Part 3 - 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Eads Executive Di | Officer | 40 | $154,502 |
J Michael Lane Board Chair | OfficerTrustee | 2 | $0 |
Marion Grant Secretary | OfficerTrustee | 0.4 | $0 |
Josee Shelley Treasurer | OfficerTrustee | 0.6 | $0 |
James Brannan ESQ Board Member | Trustee | 0.3 | $0 |
William Chase Board Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,200 |
| Noncash contributions included in lines 1a–1f | $33,200 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $62,200 |
| Total Program Service Revenue | $2,658,433 |
| Investment income | $36,346 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$37,102 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,728,291 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $154,502 |
| Compensation of current officers, directors, key employees. | $123,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,284,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $99,940 |
| Payroll taxes | $116,883 |
| Fees for services: Management | $4,877 |
| Fees for services: Legal | $2,617 |
| Fees for services: Accounting | $20,474 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $425 |
| Advertising and promotion | $21,948 |
| Office expenses | $5,659 |
| Information technology | $17,361 |
| Royalties | $0 |
| Occupancy | $179,390 |
| Travel | $3,749 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $179,178 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $297,160 |
| Insurance | $64,596 |
| All other expenses | $25,255 |
| Total functional expenses | $2,824,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $231,888 |
| Savings and temporary cash investments | $938,548 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $49,478 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $54,912 |
| Net Land, buildings, and equipment | $3,868,784 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $442,005 |
| Total assets | $5,585,615 |
| Accounts payable and accrued expenses | $376,157 |
| Grants payable | $0 |
| Deferred revenue | $1,679 |
| Tax-exempt bond liabilities | $5,122,299 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,500,135 |
| Net assets without donor restrictions | $85,480 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,585,615 |