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Waterman Communities Inc

EIN 59-2867652 · Mount Dora, FL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak34 out of 100GovernanceStrong93 out of 100Impact evidenceDescribes programsHow well its results are evidenced

Points to look into

  • It owes more than it owns.

These come from the organization's own tax return. There may be a good explanation; ask the charity.

What it says it does

AS A COMMUNITY CENTERED ORGANIZATION, WATERMAN COMMUNITIES, INC. MAKES IT POSSIBLE FOR RESIDENTS TO AGE SUCCESSFULLY, LIVING THEIR BEST LIFE WITH MAXIMUM WELLNESS AND INDEPENDENCE THROUGH A BROAD RANGE OF SERVICES DELIVERED WITH CARE, INTEGRITY AND PROFESSIONALISM.

Income
$48.2 million
Spending
$54.1 million
Spent on programs
90%
Reserves
-30 months of spending
Largest source of income
fees for its services, 98%
Employees
678
Volunteers
156
Highest pay
$442,173, president/ceo

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 34 out of 100. Higher than 4% of charities in its peer group (human services, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    0 of 20

    It owes 125% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 12% of income.

  • Income trend

    15 of 15

    Income rose 14% on the year before.

  • Spending floor

    15 of 15

    90% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 93 out of 100. Higher than 26% of charities in its peer group (human services, $10m to $100m).

  • Independent board

    25 of 25

    6 of 6 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $48.5 million spent. WATERMAN COMMUNITIES, INC. PROVIDES SENIOR LIVING, INDEPENDENT LIVING, ASSISTED LIVING, AND NURSING CARE TO ITS RESIDENTS. THE FILING ORGANIZATION OPERATES 56 INDEPENDENT LIVING MANOR UNITS, 203 INDEPENDENT LIVING VILLAS, 77 ASSISTED LIVING UNITS, AND A 120-BED SKILLED NURSING FACILITY. IN 2023, UNIT ADDITIONS WERE 159 INDEPENDENT LIVING UNITS, WITH COMMON AMENITY SPACES, AND 24 MEMORY CARE UNITS. ACROSS ALL PROGRAMS, THERE WERE 289,995 RESIDENT DAYS IN THE CURRENT YEAR.SEE SCHEDULE O FOR ADDITIONAL INFORMATION.THE EDGEWATER HEALTH CARE AND REHABILITATION CENTER, A SKILLED NURSING FACILITY, HAS THE CAPACITY TO SERVE APPROXIMATELY 120 RESIDENTS IN ITS REHABILITATION THERAPY SUB-ACUTE AND SECURED DEMENTIA UNITS, AND LONG-TERM CARE NURSING FACILITY BEDS. THE INDEPENDENT LIVING UNITS HAVE THE CAPACITY TO SERVE APPROXIMATELY 418 ELDERLY RESIDENTS BY PROVIDING ONE MEAL PER DAY, TRANSPORTATION TO MEDICAL APPOINTMENTS, SHOPPING, ACTIVITIES, MEAL SERVICES, HOUSEKEEPING, MAINTENANCE, BASIC CABLE TELEVISION AND SOME UTILITIES. THE BRIDGEWATER ASSISTED LIVING FACILITY HAS THE CAPACITY TO SERVE APPROXIMATELY 77 ELDERLY RESIDENTS WITH ASSISTANCE IN CERTAIN ACTIVITIES OF DAILY LIVING, INCLUDING A 24-HOUR NURSING STAFF; THREE MEALS DAILY; HOUSEKEEPING AND MAINTENANCE; TRANSPORTATION TO MEDICAL APPOINTMENTS AND SHOPPING ACTIVITIES; BASIC CABLE TELEVISION AND ALL UTILITIES. WATERMAN VILLAGE HOME CARE PROVIDES COMPANION/SITTERS, CNA SERVICES, NURSING SERVICES, AND REHABILITATIVE THERAPY TO INDEPENDENT LIVING AND BRIDGEWATER RESIDENTS AS WELL AS OFF-CAMPUS PERSONS.LAKESIDE AT WATERMAN VILLAGE ("LAKESIDE") CONSISTS OF 40 INDEPENDENT LIVING GARDEN HOME UNITS, 87 INDEPENDENT LIVING LAKESIDE GARDEN APARTMENTS, AND 32 INDEPENDENT LIVING LAKEHOUSE APARTMENTS. IN NOVEMBER 2022, LAKESIDE ALSO OPENED A 24-BED MEMORY SUPPORT ASSISTED LIVING FACILITY.

Source: Form 990 for the year ending September 30, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1989.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.