Carol Woods
750 Weaver Dairy Rd, Chapel Hill, North Carolina 27514 · Community website
- Operator:
- The Chapel Hill Residential Retirement Center, Inc. (d/b/a Carol Woods)
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1979
- Type B (modified)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Entrance fee, one person, every plan
Refund plans offered
- Declining Balance (0% after 50 months)Can decline to nothing
Days cash on hand
Read the note on this figure
The reported 690 days counts the $8.76M statutory operating reserve: Carol Woods' own cash ($0.58M) + investments ($53.62M) + the reserve ($8.76M) = the $62.95M of 'unrestricted cash and investments' the statement cites (p42, p91). Cash and investments alone ($54.2M) on 2025 expenses less depreciation are about 593 days for Carol Woods alone (p91-93) and about 586 days consolidated (p61-62).
Independent living occupancy
Nursing care, CMS overall rating
What care costs later
How each contract prices assisted living and nursing if you need them. The contract type decides most of what a long stay costs.
- Type B (modified): A set number of care days is included, or care is charged at a stated discount.
How the contract types compare
Type B (modified)
Each resident accrues 15 Free Days a year, which accumulate without limit and cover the discounted daily charge. Beyond them, residents pay a daily rate that the projections describe as discounted roughly 60-70% from the non-resident rate, plus the monthly fee.p. 145
- Assisted living
- Leveled HLOS monthly fee ($2,920) plus a discounted daily rate: $105.50-$139.50 a day in assisted living and $123-$137 a day in assisted nursing (2026), against $282-$460 for non-residents; about $6,085-$7,105 a month before Free Days.
- Nursing care
- HLOS monthly fee plus $134 (semi-private) or $145 (private) a day in 2026, about $6,940-$7,270 a month, against $484-$499 a day for non-residents.
- Care days included
- 15
| Independent living | 315 |
|---|---|
| Assisted living | 89 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 30 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence and Services Agreement · Type B (modified) (26 prices, $116,600 to $671,700)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Apartment - Studio | Declining Balance (0% after 50 months) | $116,600 to $121,000p. 196 | Not listed |
| Apartment - One Bedroom Small | Declining Balance (0% after 50 months) | $203,500 to $207,900p. 196 | $48,600 |
| Apartment - One Bedroom | Declining Balance (0% after 50 months) | $214,900 to $219,300p. 196 | $48,600 |
| Apartment - One Bedroom Large | Declining Balance (0% after 50 months) | $243,900p. 196 | $48,600 |
| Apartment - Two Bedroom | Declining Balance (0% after 50 months) | $303,200p. 196 | $48,600 |
| Apartment - Two Bedroom Large | Declining Balance (0% after 50 months) | $355,900p. 196 | $48,600 |
| Apartment - Two Bedroom XL | Declining Balance (0% after 50 months) | $390,100 to $394,500p. 196 | $48,600 |
| Apartment - Two Bedroom w/Den | Declining Balance (0% after 50 months) | $444,800p. 196 | $48,600 |
| Apartment - Two Bedroom w/Den Large | Declining Balance (0% after 50 months) | $460,200p. 196 | $48,600 |
| Apartment - Two Bedroom w/Den XL | Declining Balance (0% after 50 months) | $471,000p. 196 | $48,600 |
| Cottage - One Bedroom | Declining Balance (0% after 50 months) | $209,800 to $218,600p. 196 | $48,600 |
| Cottage - One Bedroom w/Sunroom | Declining Balance (0% after 50 months) | $209,800 to $218,600p. 196 | $48,600 |
| Cottage - One Bedroom w/Den | Declining Balance (0% after 50 months) | $261,300 to $270,100p. 196 | $48,600 |
| Cottage - One Bedroom w/Den & Carolina Room | Declining Balance (0% after 50 months) | $332,500p. 196 | $48,600 |
| Cottage - Two Bedroom | Declining Balance (0% after 50 months) | $315,000 to $323,800p. 196 | $48,600 |
| Cottage - Two Bedroom w/Sunroom | Declining Balance (0% after 50 months) | $315,000p. 196 | $48,600 |
| Cottage - Two Bedroom w/Carolina Room | Declining Balance (0% after 50 months) | $383,400 to $392,200p. 196 | $48,600 |
| Cottage - Two Bedroom w/Den | Declining Balance (0% after 50 months) | $361,600 to $370,400p. 196 | $48,600 |
| Cottage - Two Bedroom w/Den & Sunroom | Declining Balance (0% after 50 months) | $361,600p. 196 | $48,600 |
| Cottage - Two Bedroom w/Den & Carolina Room | Declining Balance (0% after 50 months) | $430,500 to $439,300p. 196 | $48,600 |
| Cottage - One Bedroom Duplex | Declining Balance (0% after 50 months) | $450,000 to $461,000p. 196 | $48,600 |
| Cottage - One Bedroom Duplex w/Den | Declining Balance (0% after 50 months) | $450,000 to $461,000p. 196 | $48,600 |
| Cottage - Two Bedroom Duplex w/Sunroom | Declining Balance (0% after 50 months) | $450,000 to $523,500p. 196 | $48,600 |
| Cottage - Two Bedroom Duplex w/Den | Declining Balance (0% after 50 months) | $523,500 to $544,400p. 196 | $48,600 |
| Cottage - Two Bedroom w/Den & Sunroom (listed last under Cottages) | Declining Balance (0% after 50 months) | $636,000p. 196 | $48,600 |
| Townhomes | Declining Balance (0% after 50 months) | $373,200 to $671,700p. 196 | $48,600 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Services Agreement · Type B (modified) (34 prices, $2,905 to $7,270)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Garden Cottage 1 BR | Independent living | $4,020p. 188 | $1,577 |
| Garden Cottage 1 BR w Den | Independent living | $4,225 to $4,384p. 188 | $1,577 |
| Garden Cottage 1 BR w Sunroom | Independent living | $4,362 to $4,501p. 188 | $1,577 |
| Garden Cottage 1 BR w Den/Sunroom | Independent living | $4,588 to $4,930p. 188 | $1,577 |
| Garden Cottage 1 BR w Den/Carolina Room | Independent living | $5,308p. 188 | $1,577 |
| Garden Cottage 2 BR | Independent living | $5,049p. 188 | $1,577 |
| Garden Cottage 2 BR w Sunroom1 | Independent living | $5,391p. 188 | $1,577 |
| Garden Cottage 2 BR w Den | Independent living | $5,509p. 188 | $1,577 |
| Garden Cottage 2 BR w Sunroom2 | Independent living | $5,529p. 188 | $1,577 |
| Garden Cottage 2 BR w Carolina Room | Independent living | $5,624p. 188 | $1,577 |
| Garden Cottage 2 BR w Den w Sunroom | Independent living | $5,851 to $5,990p. 188 | $1,577 |
| Garden Cottage 2 BR w Den/Carolina Room | Independent living | $5,910p. 188 | $1,577 |
| Garden Cottage 1 BR Duplex | Independent living | $6,053p. 188 | $1,577 |
| Garden Cottage 1 BR Duplex w Den | Independent living | $6,395p. 188 | $1,577 |
| Garden Cottage 2 BR Duplex w Den | Independent living | $6,341p. 188 | $1,577 |
| Garden Cottage 2 BR Duplex w Sunroom | Independent living | $6,683p. 188 | $1,577 |
| Garden Cottage 2 BR Duplex w Den Sunroom | Independent living | $6,858p. 188 | $1,577 |
| Central Apartment Studio | Independent living | $2,905p. 189 | Not listed |
| Central Apartment Studio Expanded | Independent living | $2,968p. 189 | Not listed |
| Central Apartment 1 BR Small | Independent living | $3,898p. 189 | $1,577 |
| Central Apartment 1 BR | Independent living | $4,082p. 189 | $1,577 |
| Central Apartment 1 BR Large | Independent living | $4,226p. 189 | $1,577 |
| Central Apartment 2 BR | Independent living | $5,127p. 189 | $1,577 |
| Central Apartment 2 BR Large | Independent living | $5,433p. 189 | $1,577 |
| Central Apartment 2 BR Extra Large | Independent living | $5,657p. 189 | $1,577 |
| Central Apartment 2 BR w Den | Independent living | $5,987p. 189 | $1,577 |
| Central Apartment 2 BR w Den Large | Independent living | $6,143p. 189 | $1,577 |
| Central Apartment 2 BR w Den Extra Large | Independent living | $6,225p. 189 | $1,577 |
| Townhomes | Independent living | $5,542 to $6,858p. 189 | $1,577 |
| Assisted Living Building 5 (base level), Unit Types 1-5 | Assisted living | $6,085 to $7,105p. 191 | Not listed |
| Assisted Living Building 6/7, base level of care | Assisted living | $6,280p. 191 | Not listed |
| Assisted Nursing (Building 4 semi-private/private; Building 6/7) | Assisted living | $6,610 to $7,030p. 191 | Not listed |
| Skilled Nursing Building 4, semi-private | Nursing care | $6,940p. 191 | Not listed |
| Skilled Nursing Building 4, private | Nursing care | $7,270p. 191 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 6.5% | Percent onlyp. 28 |
| 2025 | Independent living | All units | 4% | Percent onlyp. 28 |
| 2024 | Independent living | All units | 4% | Percent onlyp. 28 |
| 2023 | Independent living | All units | 4.5% | Percent onlyp. 28 |
| 2022 | Independent living | All units | 2.9% | Percent onlyp. 28 |
| 2021 | Independent living | All units | 1.5% | Percent onlyp. 28 |
| 2026 | Assisted living | All units | 9.9% | Percent onlyp. 28 |
| 2026 | Nursing care | All units | 9.9% | Percent onlyp. 28 |
| 2025 | Assisted living | All units | 4.1% | Percent onlyp. 28 |
| 2025 | Nursing care | All units | 4.1% | Percent onlyp. 28 |
| 2024 | Assisted living | All units | 5.2% | Percent onlyp. 28 |
| 2024 | Nursing care | All units | 5.2% | Percent onlyp. 28 |
| 2023 | Assisted living | All units | 3.6% | Percent onlyp. 28 |
| 2023 | Nursing care | All units | 3.6% | Percent onlyp. 28 |
| 2022 | Assisted living | All units | 3.2% | Percent onlyp. 28 |
| 2022 | Nursing care | All units | 3.2% | Percent onlyp. 28 |
| 2021 | Assisted living | All units | 0% | Percent onlyp. 28 |
| 2021 | Nursing care | All units | 0% | Percent onlyp. 28 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Declining Balance (0% after 50 months)p. 152
The 4% Acceptance Fee is kept from the start, and the refund falls by 2% of the entry fee for each month of residency; after 50 months nothing is refundable. Any refund is paid within 30 days after a new resident has paid a full entry fee for your residence, and nothing is refunded on a move to assisted living or nursing.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 50 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: when your unit is re-occupied and the new resident has paid. This applies the plan terms as recorded from the filing, counting a part month as a whole one. The signed contract governs, and charges you owe or care paid for from the fee can be deducted first.
How entrance-fee refunds work, and why the payment date matters
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Balance sheet: The Chapel Hill Residential Retirement Center, Inc. (Carol Woods) and The Carol Woods Charitable Fund, Inc. (consolidated).
- Ratios: Carol Woods (provider only, sole member of the obligated group).
Days cash on hand
690 days FY2025p. 2
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
1.47x FY2025p. 2
- Its lenders’ minimum: Not disclosed in the 2026 filing
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresThe reported 690 days counts the $8.76M statutory operating reserve: Carol Woods' own cash ($0.58M) + investments ($53.62M) + the reserve ($8.76M) = the $62.95M of 'unrestricted cash and investments' the statement cites (p42, p91). Cash and investments alone ($54.2M) on 2025 expenses less depreciation are about 593 days for Carol Woods alone (p91-93) and about 586 days consolidated (p61-62).
How to read these figures: what each one measures and why a lender’s minimum is a floor, not a target.
Balance sheet and trend
| Fiscal year | FY2025p. 61 | FY2024p. 2 | FY2023p. 51 |
|---|---|---|---|
| Days cash on hand | 690 days | 617 days | 664 days |
| Debt service coverage | 1.47x | 3.28x | 2.52x |
| Operating margin | -12% | -9.6% | -9.7% |
| Total assets | $158.7 million | $130.4 million | Not disclosed |
| Total liabilities | $116.7 million | $92.4 million | Not disclosed |
| Long-term debt | $58.4 million | $26.4 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $52.2 million | $53.6 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | Not disclosed | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $42.0 million | $38.0 million | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 61
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025-11 Entered a $34,000,000 Series 2025 bond financing with the North Carolina Medical Care Commission to fund campus capital projects (including the dining expansion) and refinance a construction loan; the bonds amortize through December 2055.p. 82
Nursing care on campus
From CMS Care Compare, data as of 2026-09-01. These are the federal government’s ratings of the nursing center, not ours.
- Overall
- 5 of 5
- Health inspections
- 4 of 5
- Staffing
- 5 of 5
- Quality measures
- 5 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 5. Carol Woods on Care Compare
CARF-accredited since 1988. Check on CARF’s site
In brief
Carol Woods in Chapel Hill, NC is a nonprofit continuing care retirement community on 120 acres with 315 independent living residences, 89 assisted living accommodations and 30 skilled nursing beds. It offers one declining-balance contract (entry fees from $116,600 to $671,700 in 2026, no refund after 50 months) with 15 accumulating free days a year and discounted daily rates for assisted living and nursing, plus an Early Acceptance continuing-care-at-home program.PDF
Nearest communities in North Carolina
- The Cedars of Chapel Hill
Chapel Hill · 4 miles away
Entrance fee: Purchase + membership fee
- The Forest at Duke
Durham · 5 miles away
Entrance fee: $50,000 to $680,585
- Croasdaile Village Retirement Community
Durham · 8 miles away
Entrance fee: $70,619 to $586,998
Sources
- Carol Woods — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 196 pages · retrieved 2026-10-15
Each page tab above opens this PDF at the page the figure came from. Spotted a figure that does not match its page? Tell us and it is checked against the filing.