2026-08-14T12:41:40+00:00 2025-09-30 440160260 FORVIS MAZARS LLP 255 SOUTH ORANGE AVENUE SUITE 600 ORLANDO FL 32801 990 2024-10-01 592867652 WATERMAN COMMUNITIES INC WATE 3523830051 250 BROOKFIELD AVENUE MOUNT DORA FL 32757 DAVID LARSON VP & CFO 3523830051 2026-08-14 true PETER GUBLER P00190185 4077405400 2026-08-14 2024 2025-03-06 01:10:19Z WATERMAN VILLAGE OF MT DORA ANDREW DUJON 250 BROOKFIELD AVENUE MOUNT DORA FL 32757 51591972 false X WWW.WATERMANVILLAGE.COM X 1987 FL TO PROVIDE HOUSING, HEALTHCARE AND OTHER SERVICES TO THE ELDERLY. 6 6 663 117 0 35036 95616 47078409 50268072 1060779 1127029 0 48174224 51490717 113134 148223 0 22749338 22863225 0 0 31203221 30814801 54065693 53826249 -5891469 -2335532 133204295 129871793 166333488 164860134 -33129193 -34988341 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. false false 47881440 148223 50268072 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 47881440 true true false false false false false false true false true true false false true true false true false false false false false false false false false false true true true false false false false false false false false false true false false false false false true false false false false true 37 0 true 663 true false false false false false false false false false false false false X 6 6 false false false false false false false true true false false false true true true true true false true true false false FL X DAVID LARSON 3523830051 250 BROOKFIELD AVENUE MOUNT DORA FL 32757 CATHERINE HOESCHST SECRETARY 2.0 0.0 X X 0 0 0 KEVIN MCEWEN CHAIRMAN 2.0 0.0 X X 0 0 0 KIM STEWART TREASURER 2.0 0.0 X X 0 0 0 TOM POPIESKI VICE CHAIRMAN 2.0 0.0 X X 0 0 0 BOBBY ROWE DIRECTOR 2.0 0.0 X 0 0 0 JAMES PELTZER RESIDENT COUNCIL PRESIDENT 2.0 0.0 X 0 0 0 RICHARD LEIGH DIRECTOR 2.0 0.0 X 0 0 0 ANDREW DUJON PRESIDENT/CEO 40.0 0.0 X 393144 0 18734 DAVID LARSON VICE PRESIDENT/CFO 40.0 0.0 X 185705 0 0 DAVID NWOGU VICE PRESIDENT/COO 40.0 0.0 X 212994 0 21487 JENIFER REPOLLO PHYSICAL THERAPIST 40.0 0.0 X 107645 0 28388 KENDRA CRISS EXEC DIRECTOR OF HOME BASED SERVICES 40.0 0.0 X 110466 0 6571 REGINA SULLO DIRECTOR OF NURSES 40.0 0.0 X 106757 0 20528 SANDRA VAN SYCKEL RISK MANAGER 40.0 0.0 X 131738 0 20528 TITO ARDINES HR DIRECTOR, RN 40.0 0.0 X 138930 0 15041 1387379 0 131277 12 false true false SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 DINING, PLANT OPERATIONS, AND HOUSEKEEPING SERVICES 4822751 RICK TANNER BUILDERS INC 21502 PARADISE WAY EUSTIS FL 32736 CONSTRUCTION SERVICES 1166969 AGENCY FOR HEALTH CARE ADMINISTRATION 2727 MAHAN DRIVE TALLAHASSEE FL 32308 QUALITY ASSESSMENT FEES 654939 TNT LAWN CARE LLC 10240 BARRINGTON CT LEESBURG FL 34788 MAINTENANCE CONTRACTOR SERVICES 559317 OMNICARE 2400 LAKE ORANGE DR ORLANDO FL 32837 PHARMACY SUPPLIES 417215 19 95616 0 95616 RESIDENT SERVICE REVENUE 623000 27630237 27630237 PATIENT SERVICE REVENUE 623990 15635541 15635541 EARNED ENTRANCE FEES 623000 4321361 4321361 HOME HEALTH REVENUE 623000 2074383 2074383 OTHER RESIDENT REVENUE 623000 606550 606550 0 0 0 0 50268072 926801 926801 0 0 301483 101255 301483 -101255 200228 200228 0 0 0 0 0 51490717 50268072 0 1127029 148223 148223 832064 832064 20430619 18181621 2248998 68540 68540 1532002 1314522 217480 541938 541938 55975 55975 81012 81012 3115555 2290515 825040 0 228685 228685 1740423 1324977 415446 4289610 4081159 208451 65834 42474 23360 5038767 4887604 151163 7657601 7427873 229728 3757824 3586173 171651 FOOD AND DIETARY USAGE 2975668 2789087 186581 MEDICAL SUPPLIES 894613 894613 SUPPLIES 336610 336610 UNIFORMS 34051 34051 635 0 635 0 53826249 47881440 5944809 0 7324645 6893066 5784974 1478145 2438061 2647264 0 0 0 0 91293 98488 1028662 1176577 177684107 80283434 101952403 97400673 13568810 19210586 0 0 1015447 966994 133204295 129871793 5747979 5901024 0 0 12530265 12317758 84463776 83907292 0 5342 0 0 0 598766 62992702 62728718 166333488 164860134 X -33129193 -34988341 0 0 0 0 0 0 0 0 -33129193 -34988341 133204295 129871793 X -2335532 353501 122883 X false true true false X 2891630 88331 52 35036 95616 3110665 27523022 32397706 41759855 47078409 50268072 199027064 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 30414652 32486037 41759907 47113445 50363688 202137729 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 202137729 985225 291233 591425 888262 926801 3682946 0 0 0 0 0 0 985225 291233 591425 888262 926801 3682946 0 0 0 0 0 0 0 31399877 32777270 42351332 48001707 51290489 205820675 0.98211 0.98463 0.02 0.02 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true 7928 0 2586 5342 true X 3711303 3711303 142462286 60033820 82428466 31155110 20249614 10905496 355408 355408 97400673 CLOSELY-HELD EQUITY INTERESTS FINANCIAL DERIVATIVES CERTIFICATE OF DEPOSIT CORPORATE BONDS 9013911 EQUITIES 3744376 MUTAL FUNDS 6452299 U.S. TREASURY SECURITIES U.S. GOVERNMENT AGENCIES 19210586 FEDERAL INCOME TAXES OTHER LIABILITIES 573015 REFUNDABLE ENTRANCE FEES LIABILITY 58939667 RESERVATION DEPOSIT LIABILITIES 346690 RESIDENT REFUNDS PAYABLE 2869346 62728718 X 51920133 353501 -25340 328161 51591972 -101255 -101255 51490717 53779281 101255 101255 53678026 148223 148223 53826249 SCHEDULE D, PART IV, LINE 1B THE COMMUNITY PROVIDES A CASH MANAGEMENT SERVICE TO ITS RESIDENTS. THESE FUNDS REMAIN THE SOLE PROPERTY OF EACH RESIDENT, TO BE DISBURSED ONLY AS REQUESTED AND, ACCORDINGLY, THESE FUNDS ARE EXCLUDED FROM THESE FINANCIAL STATEMENTS. THE COMMUNITY HAS A FIDUCIARY DUTY OF ACCOUNTABILITY FOR THESE FUNDS. AT SEPTEMBER 30, 2025 AND 2024, THESE FUND BALANCES WERE APPROXIMATELY $5,000 AND $8,000, RESPECTIVELY. SCHEDULE D, PART IV, LINE 2B EXPLANATION OF ESCROW AGREEMENT THE ORGANIZATION HAS A RESIDENT TRUST FUND FOR RESISDENTS IN ITS SKILLED NURSING FACILITY. SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) FOOTNOTE THE COMMUNITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501 OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE COMMUNITY IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. THE COMMUNITY FILES TAX RETURNS IN THE U.S FEDERAL JURISDICTION. SCHEDULE D, PART XI, LINE 2(D) OTHER REVENUES IN AUDITED FINANCIAL STATEMENTS NOT IN FORM 990 CHANGE IN BENEFICIAL INTEREST - 122883 GRANT SUBSIDY RECLASS - -148223 SCHEDULE D, PART XI, LINE 4(B) OTHER REVENUES IN FORM 990 NOT IN AUDITED FINANCIAL STATEMENTS LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT - -101255 SCHEDULE D, PART XII, LINE 2(D) OTHER EXPENSES IN AUDITED FINANCIAL STATEMENTS NOT IN FORM 990 LOSS ON DISPOSAL OF PROPERTY AND EQUIPMENT - 101255 SCHEDULE D, PART XII, LINE 4(B) OTHER EXPENSES IN FORM 990 NOT IN AUDITED FINANCIAL STATEMENTS GRANT SUBSIDY RECLASS - 148223 true RENT SUBSIDY 6 148223 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS FINANCIAL ASSISTANCE IS PROVIDED TO QUALIFYING RESIDENTS WHO OUTLIVE THEIR RESOURCES. RESIDENTS MUST MEET THE REQUIRED QUALIFICATIONS IN ORDER TO APPLY FOR ASSISTANCE. ELIGIBILTY AND ASSISTANCE CALCULATIONS ARE REVIEWED ANNUALLY. X false true false false false true false false false ANDREW DUJON PRESIDENT/CEO 393144 0 0 0 0 0 0 0 18734 0 411878 0 0 0 DAVID NWOGU VICE PRESIDENT/COO 212994 0 0 0 0 0 0 0 21487 0 234481 0 0 0 DAVID LARSON VICE PRESIDENT/CFO 185705 0 0 0 0 0 0 0 0 0 185705 0 0 0 TITO ARDINES HR DIRECTOR, RN 138930 0 0 0 0 0 0 0 15041 0 153971 0 0 0 SANDRA VAN SYCKEL RISK MANAGER 131738 0 0 0 0 0 0 0 20528 0 152266 0 0 0 SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN ALL MANAGING DIRECTORS ARE ELIGIBLE TO PARTICIPATE IN THE NON-QUALIFED DEFERRED COMPENSATION PLAN ESTABLISHED BY THE ORGANIZATION. ALL COMPENSATED INDIVIDUALS LISTED ON PART VII CAN PARTICIPATE IN THE PLAN, AND NONE OF THESE INDIVIDUALS WITHDREW MONIES FROM THE PLAN DURING THE REPORTING YEAR. NO WITHDRAWALS CAN BE MADE FROM THE PLAN EXCEPT UNDER THE FOLLOWING CIRCUMSTANCES, (1) RETIREMENT, (2) TERMINATION OF EMPLOYMENT, (3) DEATH, (4) UNFORESEEABLE EMERGENCY, (5) DE MINIMIS EXCEPTION, OR (6) AGE 73 REQUIRED MINIMUM DISTRIBUTION. AFTER FIVE YEARS OF SERVICE, THE EARNED OWNERSHIP INTEREST (VESTING) OF THE EMPLOYER CONTRIBUTIONS BECOMES 100%. SCHEDULE J, PART I, LINE 6A COMPENSATION CONTINGENT ON NET EARNINGS OF THE ORGANIZATION CEO, COO, AND CFO BONUSES ARE BASED ON OPERATIONAL PROFIT, NOT INCLUDING EXTRAORDINARY ITEMS. A LAKE COUNTY FLORIDA 596000695 50826FAD5 2020-10-08 126340000 SEE SUPPLEMENTAL INFORMATION false false false A 42510000 123507807 6624482 2470156 91244238 23168931 2020 false false true true A false false false false false false 0 0 0.0 false false 0 false true A false true false false false false 0 false false false 0 false false false A true SCHEDULE K, PART I, COLUMN (F) LINE A(F) ON OCTOBER 8, 2020, THE COMMUNITY COMPLETED THE SERIES 2020 LAKE COUNTY, FLORIDA RETIREMENT FACILITY REVENUE BONDS (THE "SERIES 2020 BONDS") FINANCING OF APPROXIMATELY $126,340,000 IN CONNECTION WITH THE DEVELOPMENT OF THE LAKESIDE EXPANSION CAMPUS> THE PROCEEDS OF THE SERIES 2020 BONDS ARE TO BE USED TO (1) FINANCE THE COST OF CONSTRUCTING, DEVELOPING, MARKETING, ACQUIRING AND EQUIPPING THE LAKESIDE EXPANSION PROJECT, (2) REPAYMENT OF THE SERIES 2018 REVENUE BOND ANTICIPATION NOTES AND THE SERIES 2016 BONDS, (3) FUND INTEREST ON THE PORTION OF THE SERIES 2020 BONDS ALLOCATED TO THE LAKESIDE EXPANSION PROJECT (4) FUND A DEBT SERVICE RESERVE FUND FOR EACH SERIES OF THE SERIES 2020 BONDS (5) PAY THE COSTS ASSOCIATED WITH THE ISSUANCE OF THE SERIES 2020 BONDS, AND (6) REPAY CERTAIN PREVIOUSLY OUTSTANDING PROMISSORY NOTE BALANCES. THE SERIES 2020 BONDS ARE COLLATERALIZED BY SUBSTANTIALLY ALL ASSETS (INCLUDING A MORTGAGE ON THE REAL PROPERTY OF THE COMMUNITY), REVENUES, INCOME, AND RECEIPTS OF THE COMMUNITY. SCHEDULE K, PART I, COLUMN (E) DIFFERENCE BETWEEN THE ISSUE PRICE AND TOTAL PROCEEDS OF ISSUE THE DIFFERENCE BETWEEN THE ISSUE PRICE AND TOTAL PROCEEDS OF ISSUE IS THE UNDERWRITER'S DISCOUNT OF $2,832,193. HILLCREST INSURANCE AGENCY ENTITY OWNED MORE THAN 35% BY BOARD MEMBER, KEVIN MCEWEN 205765 INSURANCE false FORM 990, PART III, LINE 4A PROGRAM SERVICE ACCOMPLISHMENTS THE BRIDGEWATER ASSISTED LIVING FACILITY HAS THE CAPACITY TO SERVE APPROXIMATELY 77 ELDERLY RESIDENTS WITH ASSISTANCE IN ACTIVITIES OF DAILY LIVING, INCLUDING A 24-HOUR NURSING STAFF; THREE MEALS DAILY; HOUSEKEEPING AND MAINTENANCE; TRANSPORTATION TO MEDICAL APPOINTMENTS AND SHOPPING ACTIVITIES; CABLE TELEVISION, INTERNET, AND ALL UTILITIES. THE SPRINGWATER MEMORY CARE FACILITY HAS THE CAPACITY TO SERVE APPROXIMATELY 24 ADULTS IN A SECURED ENVIRONMENT. THE STAFF AT SPRINGWATER ARE EXPERIENCED AND COMMITTED TO HELPING PROVIDE SAFE, CLEAN, COMFORTABLE, NURTURING LIVING ENVIRONMENT FOR RESIDENTS. THE EDGEWATER AT WATERMAN VILLAGE, A SKILLED NURSING FACILITY, HAS THE CAPACITY TO SERVE APPROXIMATELY 120 RESIDENTS IN ITS REHABILITATION THERAPY, SUB-ACUTE, AND SECURED DEMENTIA UNITS. 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. A DEDICATED OUTPATIENT DEPARTMENT SERVICES THE CAMPUS RESIDENTS AND OTHER ADULTS WITH PHYSICAL, OCCUPATIONAL, AND SPEECH THERAPY CLINICS AND SERVICES. WWW.WATERMANVILLAGE.COM FORM 990, PART VI, LINE 15 PROCESS TO ESTABLISH COMPENSATION OF TOP MANAGEMENT OFFICIAL THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION AND BENEFITS OF THE CHIEF EXECUTIVE OFFICER. THE CEO DETERMINES THE COMPENSATION AND BENEFITS OF OTHER OFFICERS AND KEY EMPLOYEES. THE BOARD AND CEO ARE INDEPENDENT WITH RESPECT TO THE COMPENSATION ARRANGEMENTS BEING CONSIDERED. THE BOARD UTILIZES COMPARABILITY SURVEYS PROVIDED BY THE ORGANIZATION'S CPA FIRM. THE REVIEW AND APPROVAL PROCESS IS DOCUMENTED IN BOARD MEETING MINUTES. FORM 990, PART VI, LINE 11B REVIEW OF FORM 990 BY GOVERNING BODY THE ORGANIZATION'S CHIEF FINANCIAL OFFICER CONDUCTS A COMPREHENSIVE REVIEW OF THE FORM 990. A COPY OF THE RETURN, AS ULTIMATELY FILED, IS PROVIDED TO EACH VOTING MEMBER OF THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY THE ORGANIZATION'S BOARD OF DIRECTORS MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ANNUALLY. THE BOARD REVIEWS ACTUAL CONFLICTS THAT ARE IDENTIFIED BY THE ANNUAL DISCLOSURE PROCESS AND PROHIBITS OFFICERS AND DIRECTORS FROM VOTING ON MATTERS WHERE ACTUAL CONFLICTS OF INTEREST EXIST. FORM 990, PART VI, LINE 19 REQUIRED DOCUMENTS AVAILABLE TO THE PUBLIC THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES VILLAGE FOUNDATION - 122883; TOTAL - 122883; WATERMAN COMMUNITIES FOUNDATION INC 250 BROOKFIELD AVENUE MOUNT DORA FL 32757 030386001 RAISES FUNDS FOR THE BENEFIT OF WATERMAN COMMUNITIES, INC. FL 501(C)(3) TYPE I NA false false false false false false false false false false false false false false false false false false false true