Carolina Meadows Retirement Community
100 Whippoorwill Lane, Chapel Hill, North Carolina 27517 · Community website
- Operator:
- Carolina Meadows, Inc. (managed by its parent, Carolina Meadows Senior Communities and Services, Inc.)
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1985
- Type C (fee for service)
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
Monthly fee, independent living
Refund plans offered
- 75% RefundNever less than 75% of the fee
- Equity Advantage RefundTerms not disclosed in the 2026 filing
Days cash on hand
Read the note on this figure
The 433 days appears to count the $11.6M NC operating reserve and $5.4M board-designated for unit deposits (assets limited as to use, p72) as well as cash and unrestricted investments. Carolina Meadows, Inc.'s cash ($7.2M) and unrestricted investments ($32.4M) alone, on 2025 expenses less depreciation (p86, p88), are about 297 days. The negative net position reflects $196.2M of refundable advance fees carried as a liability.
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 C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type C (fee for service)
Assisted living, memory care and skilled nursing are available on campus and are paid for at the then-current rates; no included days or discount are described. A move to another level of care does not end the agreement or trigger an entrance fee refund.p. 25
- Assisted living
- Charged separately at Carolina Meadows' rates: $8,973-$10,098 a month single in assisted living and $11,467 in memory care (2026), daily per diems $295-$475.
- Nursing care
- Charged separately at $13,200-$13,900 a month (2026 daily rates $434 semi-private, $457 private).
| Independent living | 476 |
|---|---|
| Assisted living | 80 |
| Memory care | 15 |
| Nursing care | 90 |
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 with 75% Refund Option · Type C (fee for service) (24 prices, $154,700 to $925,100)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Hybrid Home Redwood (Two bedroom with den) | 2,320 | 75% Refund | $925,100p. 103 | $15,800 |
| Hybrid Home Poplar (Two bedroom with den) | 2,329 | 75% Refund | $865,500p. 103 | $15,800 |
| Hybrid Home Laurel (Two bedroom with den) | 2,192 | 75% Refund | $816,800p. 103 | $15,800 |
| Hybrid Home Aspen (Two bedroom with den) | 2,082 | 75% Refund | $783,500p. 103 | $15,800 |
| Villa Montgomery (Two bedroom with den) | 2,213 | 75% Refund | $840,400p. 103 | $15,800 |
| Villa Madison (Two bedroom) | 2,011 | 75% Refund | $766,600p. 103 | $15,800 |
| Villa Hanover (Two bedroom) | 1,898 | 75% Refund | $725,600p. 103 | $15,800 |
| Villa Caldwell (Two bedroom) | 1,741 | 75% Refund | $673,300p. 103 | $15,800 |
| Villa Regent (Two bedroom with den) | 1,822 | 75% Refund | $670,200p. 103 | $15,800 |
| Villa Fairfax (Two bedroom) | 1,775 | 75% Refund | $654,000p. 103 | $15,800 |
| Villa Manchester (Two bedroom) | 1,722 | 75% Refund | $634,400p. 103 | $15,800 |
| Villa Chatham (Two bedroom) | 1,656 | 75% Refund | $582,500p. 103 | $15,800 |
| Villa Davidson (Two bedroom with den) | 1,584 | 75% Refund | $533,000p. 103 | $15,800 |
| Villa Brunswick (Two bedroom) | 1,566 | 75% Refund | $508,700p. 103 | $15,800 |
| Villa Cumberland (Two bedroom) | 1,502 | 75% Refund | $485,900p. 103 | $15,800 |
| Villa Albemarle (One bedroom with den) | 1,180 | 75% Refund | $371,900p. 103 | $15,800 |
| Apartment Kinston (Two bedroom with den) | 1,607 | 75% Refund | $451,800p. 103 | $15,800 |
| Apartment Kinston Extended (Two bedroom expanded) | 1,434 | 75% Refund | $399,500p. 103 | $15,800 |
| Apartment Halifax (Two bedroom) | 1,312 | 75% Refund | $363,100p. 103 | $15,800 |
| Apartment Julian (Two bedroom with den) | 1,302 | 75% Refund | $361,400p. 103 | $15,800 |
| Apartment Iredell (Two bedroom) | 1,187 | 75% Refund | $321,800p. 103 | $15,800 |
| Apartment Forsyth (One bedroom with den) | 1,007 | 75% Refund | $247,400p. 103 | $15,800 |
| Apartment Lenoir (One bedroom expanded) | 790 | 75% Refund | $175,600p. 103 | $15,800 |
| Apartment Edgecombe (One bedroom) | 717 | 75% Refund | $154,700p. 103 | $15,800 |
Residence and Services Agreement with Equity Advantage Refund · Type C (fee for service) (24 prices, $154,700 to $925,100)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| Hybrid Home Redwood (Two bedroom with den) | 2,320 | Equity Advantage Refund | $925,100p. 103 | $15,800 |
| Hybrid Home Poplar (Two bedroom with den) | 2,329 | Equity Advantage Refund | $865,500p. 103 | $15,800 |
| Hybrid Home Laurel (Two bedroom with den) | 2,192 | Equity Advantage Refund | $816,800p. 103 | $15,800 |
| Hybrid Home Aspen (Two bedroom with den) | 2,082 | Equity Advantage Refund | $783,500p. 103 | $15,800 |
| Villa Montgomery (Two bedroom with den) | 2,213 | Equity Advantage Refund | $840,400p. 103 | $15,800 |
| Villa Madison (Two bedroom) | 2,011 | Equity Advantage Refund | $766,600p. 103 | $15,800 |
| Villa Hanover (Two bedroom) | 1,898 | Equity Advantage Refund | $725,600p. 103 | $15,800 |
| Villa Caldwell (Two bedroom) | 1,741 | Equity Advantage Refund | $673,300p. 103 | $15,800 |
| Villa Regent (Two bedroom with den) | 1,822 | Equity Advantage Refund | $670,200p. 103 | $15,800 |
| Villa Fairfax (Two bedroom) | 1,775 | Equity Advantage Refund | $654,000p. 103 | $15,800 |
| Villa Manchester (Two bedroom) | 1,722 | Equity Advantage Refund | $634,400p. 103 | $15,800 |
| Villa Chatham (Two bedroom) | 1,656 | Equity Advantage Refund | $582,500p. 103 | $15,800 |
| Villa Davidson (Two bedroom with den) | 1,584 | Equity Advantage Refund | $533,000p. 103 | $15,800 |
| Villa Brunswick (Two bedroom) | 1,566 | Equity Advantage Refund | $508,700p. 103 | $15,800 |
| Villa Cumberland (Two bedroom) | 1,502 | Equity Advantage Refund | $485,900p. 103 | $15,800 |
| Villa Albemarle (One bedroom with den) | 1,180 | Equity Advantage Refund | $371,900p. 103 | $15,800 |
| Apartment Kinston (Two bedroom with den) | 1,607 | Equity Advantage Refund | $451,800p. 103 | $15,800 |
| Apartment Kinston Extended (Two bedroom expanded) | 1,434 | Equity Advantage Refund | $399,500p. 103 | $15,800 |
| Apartment Halifax (Two bedroom) | 1,312 | Equity Advantage Refund | $363,100p. 103 | $15,800 |
| Apartment Julian (Two bedroom with den) | 1,302 | Equity Advantage Refund | $361,400p. 103 | $15,800 |
| Apartment Iredell (Two bedroom) | 1,187 | Equity Advantage Refund | $321,800p. 103 | $15,800 |
| Apartment Forsyth (One bedroom with den) | 1,007 | Equity Advantage Refund | $247,400p. 103 | $15,800 |
| Apartment Lenoir (One bedroom expanded) | 790 | Equity Advantage Refund | $175,600p. 103 | $15,800 |
| Apartment Edgecombe (One bedroom) | 717 | Equity Advantage Refund | $154,700p. 103 | $15,800 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Services Agreement with 75% Refund Option · Type C (fee for service) (27 prices, $3,687 to $13,900)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Hybrid Home Redwood (Two bedroom with den) | Independent living | $4,849p. 103 | $1,215 |
| Hybrid Home Poplar (Two bedroom with den) | Independent living | $4,733p. 103 | $1,215 |
| Hybrid Home Laurel (Two bedroom with den) | Independent living | $4,680p. 103 | $1,215 |
| Hybrid Home Aspen (Two bedroom with den) | Independent living | $4,659p. 103 | $1,215 |
| Villa Montgomery (Two bedroom with den) | Independent living | $4,640p. 103 | $1,215 |
| Villa Madison (Two bedroom) | Independent living | $4,561p. 103 | $1,215 |
| Villa Hanover (Two bedroom) | Independent living | $4,550p. 103 | $1,215 |
| Villa Caldwell (Two bedroom) | Independent living | $4,494p. 103 | $1,215 |
| Villa Regent (Two bedroom with den) | Independent living | $4,460p. 103 | $1,215 |
| Villa Fairfax (Two bedroom) | Independent living | $4,385p. 103 | $1,215 |
| Villa Manchester (Two bedroom) | Independent living | $4,383p. 103 | $1,215 |
| Villa Chatham (Two bedroom) | Independent living | $4,373p. 103 | $1,215 |
| Villa Davidson (Two bedroom with den) | Independent living | $4,350p. 103 | $1,215 |
| Villa Brunswick (Two bedroom) | Independent living | $4,349p. 103 | $1,215 |
| Villa Cumberland (Two bedroom) | Independent living | $4,341p. 103 | $1,215 |
| Villa Albemarle (One bedroom with den) | Independent living | $4,277p. 103 | $1,215 |
| Apartment Kinston (Two bedroom with den) | Independent living | $4,288p. 103 | $1,215 |
| Apartment Kinston Extended (Two bedroom expanded) | Independent living | $4,261p. 103 | $1,215 |
| Apartment Halifax (Two bedroom) | Independent living | $4,228p. 103 | $1,215 |
| Apartment Julian (Two bedroom with den) | Independent living | $4,228p. 103 | $1,215 |
| Apartment Iredell (Two bedroom) | Independent living | $4,178p. 103 | $1,215 |
| Apartment Forsyth (One bedroom with den) | Independent living | $3,828p. 103 | $1,215 |
| Apartment Lenoir (One bedroom expanded) | Independent living | $3,799p. 103 | $1,215 |
| Apartment Edgecombe (One bedroom) | Independent living | $3,687p. 103 | $1,215 |
| Assisted Living | Assisted living | $8,973 to $10,098p. 28 | Not listed |
| Memory Care | Memory care | $11,467p. 28 | Not listed |
| Skilled Nursing | Nursing care | $13,200 to $13,900p. 28 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2025 | Independent living | All units | 4.5% | Percent onlyp. 28 |
| 2024 | Independent living | All units | 4.85% | Percent onlyp. 28 |
| 2023 | Independent living | All units | 6% | Percent onlyp. 28 |
| 2022 | Independent living | All units | 3.4% | Percent onlyp. 29 |
| 2021 | Independent living | All units | 3.25% | Percent onlyp. 29 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
75% Refundp. 32
A 1% administrative fee is kept, and the refundable amount drops by 2% of the original fee for each month of the first year, leaving a guaranteed 75% refund after 12 months. It is paid within 60 days after a new resident takes financial occupancy of your residence or 24 months after termination, whichever comes first; the second-person fee is not refundable.
- Kept on move-in
- 1% of the fee
- Declines by
- 2% a month for 12 months
- Never less than
- 75% of the fee
- Longest wait
- 24 months
- Paid
- When your unit is re-occupied or after 24 months, whichever is first
Equity Advantage Refundp. 193
Your refund is the original entrance fee plus 50% of any appreciation, or minus 100% of any depreciation, measured against the residence's current entrance fee after a 6% remarketing fee and refurbishment and damage costs. There is no guaranteed minimum. It is paid after a new resident occupies the residence or 24 months after termination, whichever comes first.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- 24 months
- Paid
- When your unit is re-occupied or after 24 months, whichever is first
Refund calculator
Estimated refund: $116,025 (75% of the fee)
When it is paid: when your unit is re-occupied or after 24 months, whichever is first. 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.
- Carolina Meadows Retirement Community is part of Carolina Meadows Senior Communities & Services, Inc. and Affiliates (Obligated Group: Carolina Meadows, Inc. and Carolina Meadows Senior Communities and Services, Inc.).
- Balance sheet: Carolina Meadows, Inc. (column of the consolidating balance sheet of Carolina Meadows Senior Communities & Services, Inc. and Affiliates).
- Ratios: Carolina Meadows, Inc. (provider only).
Days cash on hand
433 days FY2025p. 2
- Its lenders’ minimum: 150 daysp. 77
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
15.82x FY2025p. 2
- Its lenders’ minimum: 1.20xp. 77
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresThe 433 days appears to count the $11.6M NC operating reserve and $5.4M board-designated for unit deposits (assets limited as to use, p72) as well as cash and unrestricted investments. Carolina Meadows, Inc.'s cash ($7.2M) and unrestricted investments ($32.4M) alone, on 2025 expenses less depreciation (p86, p88), are about 297 days. The negative net position reflects $196.2M of refundable advance fees carried as a liability.
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. 87 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 433 days | 407 days | 390 days |
| Debt service coverage | 15.82x | 12.35x | 13.55x |
| Operating margin | 9.3% | 8.1% | 13.4% |
| Total assets | $260.3 million | Not disclosed | Not disclosed |
| Total liabilities | $307.0 million | Not disclosed | Not disclosed |
| Long-term debt | $85.9 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $5.7 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $196.2 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | −$46.6 million | Not disclosed | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 87
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025-12 The actuary found Carolina Meadows in satisfactory actuarial balance as of December 31, 2025 with a qualification regarding surplus and contingency margins (funded status 97.3% against a 100% minimum); as of December 31, 2024 it was not in satisfactory actuarial balance.p. 143
- 2024-07 Issued $76,170,000 of Series 2024 Retirement Facilities First Mortgage Revenue Bonds through the North Carolina Medical Care Commission to build a replacement 90-bed nursing facility, scheduled for completion in September 2026.p. 76
Nursing care on campus
We have not linked this community’s nursing center to a CMS record. Nursing centers certified by Medicare can be looked up on CMS Care Compare.
In brief
Carolina Meadows Retirement Community in Chapel Hill, NC is a nonprofit continuing care retirement community opened in 1985 on about 166 acres, with 476 independent living residences, 95 licensed assisted living beds (15 for memory care) and 90 licensed skilled nursing beds. Entrance fees run from $154,700 to $925,100 in 2026 under a 75% refund plan or an appreciation-sharing Equity Advantage plan, and assisted living and nursing are charged at their own rates.PDF
Also in Chapel Hill
- Carol Woods
Chapel Hill
Entrance fee: $116,600 to $671,700
- The Cedars of Chapel Hill
Chapel Hill
Entrance fee: Purchase + membership fee
Sources
- Carolina Meadows Retirement Community — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 248 pages · retrieved 2026-10-15
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