Waterman Village

Legal name: Waterman Communities Inc

Nonprofit profile at a glance

EIN
592867652
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Mount Dora, FL, US
Phone
(352) 383-0051
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Supportive Housing for Older Adults

Official website

Reported finances

Revenue
$51,490,717
Expenses
$53,826,249
Assets
$129,871,793
Liabilities
$164,860,134

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

Leadership & pay

15 people listed

Executive titles in this filing

  • JAMES PELTZER (RESIDENT COUNCIL PRESIDENT)
  • ANDREW DUJON (PRESIDENT/CEO)
  • DAVID LARSON (VICE PRESIDENT/CFO)
  • DAVID NWOGU (VICE PRESIDENT/COO)

Highest reported compensation

  • ANDREW DUJON (PRESIDENT/CEO): $411,878 total reported compensation
  • DAVID NWOGU (VICE PRESIDENT/COO): $234,481 total reported compensation
  • DAVID LARSON (VICE PRESIDENT/CFO): $185,705 total reported compensation

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

Overview

Mission

Since 1989, helping Seniors 'Live Their Best Lives'

What it reported doing in 2024

Waterman communities, inc. (aka waterman village) provides senior living, independent living, assisted living, memory care, nursing care, home care and outpatient services, to its residents. The filing organization operates 418 independent living units, 77 assisted living units, a 24-bed memory care unit, and a 120-bed skilled nursing facility. The independent living units have the capacity to serve approximately 418 elderly residents or couples by providing meal in one of our five dining venues/experiences from buffet, sports bar, cafe to fine dining, transportation to medical appointments, shopping, activities, catering services, a gym and wellness, housekeeping, maintenance, cable television, internet, and some utilities. See schedule o for additional information

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 79
  • Accountability: 95
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.5%; rating input score 93
  • Program expense ratio: 89%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.5%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.41; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 1.27; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 3.9% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 12.7% per year; rating input score 100; 80th percentile among comparable filings

Details

  • What they do: 3 operating locations identified
  • Where the money goes: 93.5% of revenue deployed · 89% of spending went to programs
  • Governance: 6 of 6 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $47.9M in reported program spending
  • Leadership: top reported pay $412K · 15 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.6M reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 13/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.