Bernard E & Edith B Waterman Charitable Foundation
Waterman Charitable Foundation: Strong Assets, Inconsistent Revenue, and High Administrative Costs
EIN: 223088264 · Fort Myers, FL · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $6.1M |
| Total Expenses | $1.4M |
| Program Spending | 60% |
| Net Assets | $27.7M |
| Transparency Score | 75/100 |
Is Bernard E & Edith B Waterman Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bernard E & Edith B Waterman Charitable Foundation directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Bernard E & Edith B Waterman Charitable Foundation
Bernard E & Edith B Waterman Charitable Foundation (EIN: 223088264) is a nonprofit organization based in Fort Myers, FL. The organization reported total revenue of $6.1M and total assets of $28.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bernard E & Edith B Waterman Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bernard E & Edith B Waterman Charitable Foundation is a mid-size nonprofit that has been operating for 41 years, with 11 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -7.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.1M |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-289,275 |
| Total Assets | $27.8M |
| Total Liabilities | $68K |
| Net Assets | $27.7M |
| Operating Margin | -25.8% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 236.8 months |
Financial Health Grade: B
In 2024, Bernard E & Edith B Waterman Charitable Foundation reported a deficit of $289K with expenses exceeding revenue, holds 236.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 11 years of filings (2012–2024), Bernard E & Edith B Waterman Charitable Foundation's revenue has declined at a compound annual growth rate (CAGR) of -7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +111.1% | -10.2% | -1.3% |
| 2023 | +207.9% | -0.7% | -3.3% |
| 2022 | -52.3% | +6358.4% | -4.6% |
| 2021 | -63.4% | +38.6% | +0.9% |
| 2020 | +4.8% | +106.6% | +3.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bernard E & Edith B Waterman Charitable Foundation with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, Bernard E & Edith B Waterman Charitable Foundation allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $289K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a direct assessment of specific dollar amounts impossible without further filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bernard E & Edith B Waterman Charitable Foundation's IRS 990 filings:
- Administrative expenses are consistently high relative to revenue in some years (e.g., 202306: $1,570,067 expenses vs. $530,733 revenue).
- Revenue has been highly inconsistent, ranging from $172,392 (202206) to $6,270,170 (201506), which could impact long-term program stability.
- The 'l' field (likely legal/professional fees or similar overhead) is a significant portion of expenses in some years, e.g., $134,808 in 202306.
Strengths
The following positive indicators were identified for Bernard E & Edith B Waterman Charitable Foundation:
- The foundation maintains a substantial asset base ($28,533,240 in 202406), providing a strong financial cushion.
- Despite revenue fluctuations, assets have remained relatively stable or grown over the past few years.
- The foundation has a long operational history, with data provided back to 2015.
Frequently Asked Questions about Bernard E & Edith B Waterman Charitable Foundation
Is Bernard E & Edith B Waterman Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Bernard E & Edith B Waterman Charitable Foundation (EIN: 223088264) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Bernard E & Edith B Waterman Charitable Foundation spend its money?
Bernard E & Edith B Waterman Charitable Foundation directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bernard E & Edith B Waterman Charitable Foundation tax-deductible?
Bernard E & Edith B Waterman Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 223088264). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bernard E & Edith B Waterman Charitable Foundation's spending goes to programs?
Bernard E & Edith B Waterman Charitable Foundation directs 60% to programs, 10% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
Where is Bernard E & Edith B Waterman Charitable Foundation located?
Bernard E & Edith B Waterman Charitable Foundation is headquartered in Fort Myers, Florida and files with the IRS under EIN 223088264.
How many years of IRS 990 filings does Bernard E & Edith B Waterman Charitable Foundation have?
Bernard E & Edith B Waterman Charitable Foundation has 11 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.1M in total revenue.
What does Bernard E & Edith B Waterman Charitable Foundation do?
Bernard E & Edith B Waterman Charitable Foundation is a nonprofit organization in the Unknown sector, located in Fort Myers, Florida. It is classified under NTEE code Unknown.
How much revenue does Bernard E & Edith B Waterman Charitable Foundation have?
Bernard E & Edith B Waterman Charitable Foundation reported total revenue of $6,056,619. Based on 11 IRS 990 filings on record.
What are Bernard E & Edith B Waterman Charitable Foundation's total assets?
Bernard E & Edith B Waterman Charitable Foundation holds total assets of $28,533,240 as reported in IRS 990 filings.
Where is Bernard E & Edith B Waterman Charitable Foundation located?
Bernard E & Edith B Waterman Charitable Foundation is based in Fort Myers, Florida.
What is Bernard E & Edith B Waterman Charitable Foundation's EIN?
Bernard E & Edith B Waterman Charitable Foundation's Employer Identification Number (EIN) is 223088264. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Bernard E & Edith B Waterman Charitable Foundation?
Bernard E & Edith B Waterman Charitable Foundation is classified under NTEE code Unknown (Unknown).
Is Bernard E & Edith B Waterman Charitable Foundation a registered 501(c)(3)?
Bernard E & Edith B Waterman Charitable Foundation appears in IRS records (EIN: 223088264). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Bernard E & Edith B Waterman Charitable Foundation file IRS Form 990?
Yes, Bernard E & Edith B Waterman Charitable Foundation has 11 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was Bernard E & Edith B Waterman Charitable Foundation's revenue in 2024?
In the 202406 filing period, Bernard E & Edith B Waterman Charitable Foundation reported total revenue of $1,120,233, total expenses of $1,409,508, and net assets of $27,817,527.
Is Bernard E & Edith B Waterman Charitable Foundation's revenue growing or declining?
Bernard E & Edith B Waterman Charitable Foundation's revenue is growing. Revenue went from $530,733 (202306) to $1,120,233 (202406), a +111.1% change. Based on 11 filings on record.
What is Bernard E & Edith B Waterman Charitable Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Bernard E & Edith B Waterman Charitable Foundation covers tax period 202406. It shows revenue of $1,120,233, expenses of $1,409,508, total assets of $27,817,527, and liabilities of $68,122.
How much does Bernard E & Edith B Waterman Charitable Foundation spend on programs vs administration?
Based on IRS 990 analysis, Bernard E & Edith B Waterman Charitable Foundation allocates approximately 60% of expenses to program services, 30% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Bernard E & Edith B Waterman Charitable Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Bernard E & Edith B Waterman Charitable Foundation appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Bernard E & Edith B Waterman Charitable Foundation?
The following concerns were identified: Administrative expenses are consistently high relative to revenue in some years (e.g., 202306: $1,570,067 expenses vs. $530,733 revenue).. Revenue has been highly inconsistent, ranging from $172,392 (202206) to $6,270,170 (201506), which could impact long-term program stability.. The 'l' field (likely legal/professional fees or similar overhead) is a significant portion of expenses in some years, e.g., $134,808 in 202306.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Bernard E & Edith B Waterman Charitable Foundation's strengths?
Positive indicators for Bernard E & Edith B Waterman Charitable Foundation include: The foundation maintains a substantial asset base ($28,533,240 in 202406), providing a strong financial cushion.. Despite revenue fluctuations, assets have remained relatively stable or grown over the past few years.. The foundation has a long operational history, with data provided back to 2015.. These findings are derived from AI analysis of the organization's financial filings.
How does Bernard E & Edith B Waterman Charitable Foundation compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a direct assessment of specific dollar amounts impossible without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant administrative expenses and fluctuating revenue, how does the foundation ensure its program delivery remains effective and sustainable?
The foundation's substantial asset base likely provides a buffer to maintain program activities even during periods of lower revenue. However, a detailed breakdown of how administrative costs directly support program efficacy would be beneficial.
What specific strategies are in place to stabilize and grow revenue, considering the wide year-over-year variations?
The provided data does not detail revenue generation strategies. The significant fluctuations suggest reliance on investment returns or large, infrequent donations rather than consistent fundraising efforts.
Filing History
IRS 990 filing history for Bernard E & Edith B Waterman Charitable Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2024), Bernard E & Edith B Waterman Charitable Foundation's revenue has declined by 59.9%, moving from $2.8M to $1.1M. Total assets increased by 229.6% over the same period, from $8.4M to $27.8M. Total functional expenses rose by 1068.8%, from $121K to $1.4M. In its most recent filing year (2024), Bernard E & Edith B Waterman Charitable Foundation reported a deficit of $289K, with expenses exceeding revenue. The organization holds $68K in liabilities against $27.8M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $27.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.1M | $1.4M | $27.8M | $68K | — | View 990 |
| 2023 | $531K | $1.6M | $28.2M | $135K | — | View 990 |
| 2022 | $172K | $1.6M | $29.1M | $42K | — | View 990 |
| 2021 | $361K | $24K | $30.5M | $45K | — | View 990 |
| 2020 | $987K | $18K | $30.3M | $119K | — | View 990 |
| 2019 | $941K | $9K | $29.3M | $118K | — | View 990 |
| 2016 | $2.2M | $9K | $19.2M | $115K | — | View 990 |
| 2015 | $6.3M | $12.2M | $17.0M | $135K | — | View 990 |
| 2014 | $12.3M | $4K | $23.0M | $141K | — | View 990 |
| 2013 | $2.2M | $113K | $10.5M | $0 | — | View 990 |
| 2012 | $2.8M | $121K | $8.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.1M, expenses of $1.4M, and assets of $27.8M (revenue +111.1% year-over-year).
- 2023: Revenue of $531K, expenses of $1.6M, and assets of $28.2M (revenue +207.9% year-over-year).
- 2022: Revenue of $172K, expenses of $1.6M, and assets of $29.1M (revenue -52.3% year-over-year).
- 2021: Revenue of $361K, expenses of $24K, and assets of $30.5M (revenue -63.4% year-over-year).
- 2020: Revenue of $987K, expenses of $18K, and assets of $30.3M (revenue +4.8% year-over-year).
- 2019: Revenue of $941K, expenses of $9K, and assets of $29.3M (revenue -56.3% year-over-year).
- 2016: Revenue of $2.2M, expenses of $9K, and assets of $19.2M (revenue -65.6% year-over-year).
- 2015: Revenue of $6.3M, expenses of $12.2M, and assets of $17.0M (revenue -49.1% year-over-year).
- 2014: Revenue of $12.3M, expenses of $4K, and assets of $23.0M (revenue +468.5% year-over-year).
- 2013: Revenue of $2.2M, expenses of $113K, and assets of $10.5M (revenue -22.5% year-over-year).
- 2012: Revenue of $2.8M, expenses of $121K, and assets of $8.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bernard E & Edith B Waterman Charitable Foundation:
Data Sources and Methodology
This transparency report for Bernard E & Edith B Waterman Charitable Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.