Unmanned Aerial Vehicles (UAVs) equipped with hyperspectral imagers have emerged as an essential technology for the characterization of inland water bodies. The high spectral and spatial resolutions of these systems enable the retrieval of a plethora of optically-active water quality parameters via band ratio algorithms and machine learning methods. However, fitting and validating these models requires access to sufficient quantities of in situ reference data which are time-consuming and expensive to obtain. In this study, we demonstrate how the Generative Topographic Mapping (GTM), a Bayesian realization of the Self-organizing Map, can be used to visualize high-dimensional hyperspectral imagery and extract spectral signatures corresponding to unique endmembers present in the water. Using data collected across a North Texas pond, we first apply the GTM to visualize the distribution of captured reflectance spectra revealing small-scale spatial variability of water composition. Next, we demonstrate how the nodes of the fitted GTM can be interpreted as unique spectral endmembers. Using extracted endmembers together with the normalized spectral similarity score, we are able to efficiently map the abundance of near shore algae as well as the evolution of a rhodamine tracer dye used to simulate water contamination by a localized source.