Deerfield Episcopal Retirement Community
1617 Hendersonville Road, Asheville, North Carolina 28803 · Community website
- Operator:
- Deerfield Episcopal Retirement Community, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Episcopal Diocese of Western North Carolina
- Opened:
- 1955
- Type A (life care)
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the North Carolina Department of Insurance.PDF
At a glance
Refund plans offered
- Standard Entrance Fee OptionCan decline to nothing
- 50% Refund OptionNever less than 50% of the fee
- 90% Refund OptionNever less than 90% of the fee
Days cash on hand
Read the note on this figure
The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation).
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 A (life care): Moving to assisted living or nursing leaves your monthly fee essentially unchanged.
How the contract types compare
Type A (life care)
On moving to assisted living or skilled nursing, a resident continues to pay the monthly fee for the residence they occupied at the time of transfer, plus two extra meals a day and ancillary services such as medications and therapy. Upgraded care accommodations cost the difference between direct-admission rates.p. 126
- Assisted living
- Resident keeps paying the monthly fee of the residence occupied at transfer, plus two additional meals a day and ancillary charges. Direct-admission assisted living fees are $7,396-$9,877 a month.
- Nursing care
- Resident keeps paying the monthly fee of the residence occupied at transfer, plus two additional meals a day and ancillary charges. Direct-admission skilled nursing is $413-$513 a day.
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 378 |
|---|---|
| Assisted living | 62 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 62 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence & Services Agreement · Type A (life care) (21 prices, $325,485 to $989,573)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Apartment A | Standard Entrance Fee Option | $325,485p. 21 | $110,416 |
| Apartment B w/Carolina Room | Standard Entrance Fee Option | $371,002p. 21 | $110,416 |
| Apartment C | Standard Entrance Fee Option | $479,102p. 21 | $110,416 |
| Apartment C-1 Corner | Standard Entrance Fee Option | $550,529p. 21 | $110,416 |
| Apartment D w/Carolina Room | Standard Entrance Fee Option | $528,919p. 21 | $110,417 |
| Apartment E w/Den | Standard Entrance Fee Option | $571,862p. 21 | $110,416 |
| Apartment F Deluxe | Standard Entrance Fee Option | $610,000p. 21 | $110,416 |
| Apartment G Grande | Standard Entrance Fee Option | $632,738p. 21 | $110,416 |
| Apartment H Corner w/Den | Standard Entrance Fee Option | $424,779p. 21 | $110,416 |
| Apartment L w/Den | Standard Entrance Fee Option | $875,449p. 21 | $110,416 |
| Apartment P-1 Corner w/Den | Standard Entrance Fee Option | $972,719p. 21 | $110,417 |
| Cottage A1 | Standard Entrance Fee Option | $714,378p. 21 | $110,416 |
| Cottage A2 w/Den | Standard Entrance Fee Option | $812,894p. 22 | $110,416 |
| Cottage B w/Den | Standard Entrance Fee Option | $775,861p. 22 | $110,416 |
| Cottage C w/Den | Standard Entrance Fee Option | $772,760p. 22 | $110,416 |
| Cottage D w/Den | Standard Entrance Fee Option | $989,573p. 22 | $110,416 |
| Villa I w/Den | Standard Entrance Fee Option | $689,385p. 22 | $110,417 |
| Villa II w/Den | Standard Entrance Fee Option | $700,355p. 22 | $110,416 |
| Villa III w/Den | Standard Entrance Fee Option | $829,923p. 22 | $110,416 |
| Timbers A/B | Standard Entrance Fee Option | $496,416p. 22 | $110,416 |
| Timbers D | Standard Entrance Fee Option | $560,919p. 22 | $110,417 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence & Services Agreement · Type A (life care) (21 prices, $3,917 to $6,664)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Apartment A | Independent living | $3,917p. 19 | $1,864 |
| Apartment B w/Carolina Room | Independent living | $4,154p. 19 | $1,864 |
| Apartment C | Independent living | $4,766p. 19 | $1,864 |
| Apartment C-1 Corner | Independent living | $5,007p. 19 | $1,864 |
| Apartment D w/Carolina Room | Independent living | $4,888p. 19 | $1,864 |
| Apartment E w/Den | Independent living | $5,064p. 19 | $1,864 |
| Apartment F Deluxe | Independent living | $5,282p. 20 | $1,864 |
| Apartment G Grande | Independent living | $5,409p. 20 | $1,864 |
| Apartment H Corner w/Den | Independent living | $4,432p. 20 | $1,864 |
| Apartment L w/Den | Independent living | $6,251p. 20 | $1,864 |
| Apartment P-1 Corner w/Den | Independent living | $6,544p. 20 | $1,864 |
| Cottage A1 | Independent living | $5,705p. 20 | $1,864 |
| Cottage A2 w/Den | Independent living | $6,045p. 20 | $1,864 |
| Cottage B w/Den | Independent living | $5,809p. 20 | $1,864 |
| Cottage C w/Den | Independent living | $5,792p. 20 | $1,864 |
| Cottage D w/Den | Independent living | $6,664p. 20 | $1,864 |
| Villa I w/Den | Independent living | $5,497p. 20 | $1,864 |
| Villa II w/Den | Independent living | $5,573p. 20 | $1,864 |
| Villa III w/Den | Independent living | $6,245p. 20 | $1,864 |
| Timbers A/B | Independent living | $4,154p. 20 | $1,864 |
| Timbers D | Independent living | $4,888p. 20 | $1,864 |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 9.73% | Percent onlyp. 21 |
| 2025 | Independent living | All units | 5% | Percent onlyp. 21 |
| 2024 | Independent living | All units | 5.75% | Percent onlyp. 21 |
| 2023 | Independent living | All units | 6.5% | Percent onlyp. 21 |
| 2022 | Independent living | All units | 3.75% | Percent onlyp. 21 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standard Entrance Fee Optionp. 131
4% of the entrance fee is non-refundable and the refund falls by a further 2% of the fee for each month of residency, so nothing is refunded after 48 months. Any refund is paid within 60 days after the residence is vacated, on move-out or death.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 48 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- Within a fixed number of days
50% Refund Optionp. 132
Costs 1.33 times the Standard entrance fee. 4% is non-refundable and the refund falls 2% a month for 23 months, never below 50% of the fee paid; paid within 60 days after the residence is vacated. Not available if the older resident is 85 or over.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 23 months
- Never less than
- 50% of the fee
- Longest wait
- No limit stated
- Paid
- Within a fixed number of days
90% Refund Optionp. 132
Costs 1.85 times the Standard entrance fee. 4% is non-refundable and the refund falls 1% a month for 6 months, never below 90% of the fee paid. It is paid when a new resident has paid the full entrance fee for the residence, or one year after termination, whichever comes first. Not available if the older resident is 85 or over.
- Kept on move-in
- 4% of the fee
- Declines by
- 1% a month for 6 months
- Never less than
- 90% of the fee
- Longest wait
- 12 months
- Paid
- When your unit is re-occupied or after 12 months, whichever is first
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: within a fixed number of days. 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: Deerfield Episcopal Retirement Community, Inc. and Affiliate (Deerfield Charitable Foundation), consolidated.
- Ratios: Deerfield Episcopal Retirement Community, Inc. (provider only).
Days cash on hand
1,276 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
7.41x 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 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation).
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. 49 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 1276 days | 1233 days | 1112 days |
| Debt service coverage | 7.41x | 3.45x | 3.11x |
| Operating margin | -1.8% | -5.91% | -8.09% |
| Total assets | $299.0 million | $270.4 million | Not disclosed |
| Total liabilities | $174.2 million | $160.8 million | Not disclosed |
| Long-term debt | $39.9 million | $40.6 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $97.0 million | $93.1 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $15.3 million | $14.8 million | Not disclosed |
| Net position (assets minus liabilities) | $124.8 million | $109.6 million | Not disclosed |
Auditor: Forvis Mazars, LLP. Opinion: Unmodified (clean) opinionp. 49
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2026-01 Closed on bonds on January 13, 2026 to finance an expansion of 165 independent living units, 10 assisted living units, 12 memory care units and 12 skilled nursing units, with completion expected March-August 2028.p. 15
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
- 5 of 5
- Staffing
- 5 of 5
- Quality measures
- 2 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 3. Deerfield Episcopal Retirement on Care Compare
CARF-accredited since 2003. Check on CARF’s site
In brief
Deerfield Episcopal Retirement Community in Asheville, NC is a standalone nonprofit affiliated with the Episcopal Diocese of Western North Carolina, with 378 independent living units, 62 assisted living beds and 62 skilled nursing beds as of September 30, 2025. It offers one life-care contract: Standard entrance fees run from $325,485 to $989,573 for one person, with 50% and 90% refund options priced at 1.33 and 1.85 times those amounts, and assisted living and nursing are covered at the resident's existing monthly fee plus extra meals. A 199-unit expansion financed in January 2026 is scheduled to finish in 2028.PDF
Nearest communities in North Carolina
- Givens Estates
Asheville · 0 miles away
Entrance fee: $151,809 to $1,508,902
- Ardenwoods
Arden · 5 miles away
Entrance fee: $271,000 to $484,000
- Brooks-Howell Home
Asheville · 7 miles away
Entrance fee: Not disclosed in the 2026 filing
Sources
- Deerfield Episcopal Retirement Community — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 138 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.