Waterman Communities Foundation Inc

Nonprofit profile at a glance

EIN
030386001
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Mount Dora, FL, USA
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$137,338
Expenses
$9,396
Assets
$185,154
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • Alayne Lacy (Treasurer)
  • Ellen Hart (Secretary)
  • Jodie McEwen (Chairperson)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide support to Waterman Communities, Inc., a 501(C)(3) Non-Profit Organization that provides housing, healthcare, and other services to the elderly.

What it reported doing in 2024

Waterman Communities Foundation, Inc. provides support to create a legacy that will enhance the quality of empowering care and services provided to the residents, patients, staff, and communities, by securing financial support and recruiting individuals to make a financial Commitment to our foundation. The Organization's goal is to raise money to help support the residents of Waterman Communities and provide them with a full and active life, so that they can continue to live their best lives. To provide support to Waterman Communities, Inc., a 501(C) (3) Non-Profit Organization that provides housing, healthcare, and other services to the elderly.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 94
  • Accountability: 30
  • Sustainability: 92
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.6%; rating input score 9
  • Program expense ratio: 80.6%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 93.2%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 19.71; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -9.4% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -4.1% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 8.6% of revenue deployed · 80.6% of spending went to programs
  • Governance: 0 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $8K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 9/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.