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Porters Neck Village

1200 Porters Neck Road, Wilmington, North Carolina 28411 · Community website

Operator:
Plantation Village, Inc. (managed by Life Care Services LLC)
Ownership:
Nonprofit
Affiliation:
Not disclosed in the 2026 filing
Opened:
1988
  • 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

$95,000 to $996,500p. 66

Monthly fee, independent living

$3,667 to $8,085p. 66

Refund plans offered

  • 90 Percent Return of CapitalNever less than 90% of the fee
  • 75 Percent Return of CapitalNever less than 75% of the fee
  • 50 Percent Return of CapitalNever less than 50% of the fee
  • Traditional (declining, 0% after 50 months)Can decline to nothing

Days cash on hand

493 (FY2025)p. 2Lenders' minimum not disclosed.
Read the note on this figure

The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses.

Independent living occupancy

95.4% (2025)p. 17

Nursing care, CMS overall rating

No CMS record linked

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)

Type B: each resident gets up to 30 days a year of temporary assisted living and up to 30 days a year of temporary nursing care at no daily charge (couples may pool them; unused days do not carry over), and permanent assisted living or nursing is billed at 75% of the rate the adjacent Davis Community charges non-residents. The community may change the 75% on 60 days' notice, and residents under 62 pay full rates.p. 145

Assisted living
Up to 30 calendar days a year of temporary assisted living covered (plus two meals a day and supplies); beyond that, temporary care is at the full Champions daily rate on top of the monthly fee. Permanent assisted living: 75% of the daily rate Champions charges non-residents.
Nursing care
Up to 30 calendar days a year of temporary nursing care covered; beyond that, the full Davis Health Care Center daily rate. Permanent nursing: 75% of the daily rate Davis charges non-residents for like accommodations (semi-private unless a private room is medically necessary).
Care days included
30
Discount on care
25%
Units on campusp. 16
Independent living239
Assisted livingNone on campus
Memory careNone on campus
Nursing careNone on campus

Entrance fees

One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.

Residency Agreement (Traditional) · Type B (modified) (30 prices, $95,000 to $399,500)
UnitSq ftRefund planPrice, one personSecond person
Apartment - Studio521Traditional (declining, 0% after 50 months)$95,000p. 66$20,000
Apartment - One Bedroom Traditional721Traditional (declining, 0% after 50 months)$119,500p. 66$20,000
Apartment - One Bedroom Deluxe856Traditional (declining, 0% after 50 months)$140,000p. 66$20,000
Apartment - One Bedroom Elmwood917Traditional (declining, 0% after 50 months)$182,500p. 66$20,000
Apartment - One Bedroom Ashland942Traditional (declining, 0% after 50 months)$187,500p. 66$20,000
Apartment - Two Bedroom Traditional996Traditional (declining, 0% after 50 months)$161,500p. 66$20,000
Apartment - Two Bedroom Lakeside1,023Traditional (declining, 0% after 50 months)$171,000p. 66$20,000
Apartment - Two Bedroom Combo1,300Traditional (declining, 0% after 50 months)$181,500p. 66$20,000
Apartment - Two Bedroom Classic1,325Traditional (declining, 0% after 50 months)$184,500p. 66$20,000
Apartment - Two Bedroom Ingleside1,180Traditional (declining, 0% after 50 months)$218,500p. 66$20,000
Apartment - Two Bedroom Oatland1,256Traditional (declining, 0% after 50 months)$223,500p. 66$20,000
Apartment - Two Bedroom Orton1,359Traditional (declining, 0% after 50 months)$278,000p. 66$20,000
Apartment - Two Bedroom Woodlawn1,397Traditional (declining, 0% after 50 months)$269,000p. 66$20,000
Apartment - Two Bedroom Waverly1,450Traditional (declining, 0% after 50 months)$283,500p. 66$20,000
Apartment - Two Bedroom Carlisle1,488Traditional (declining, 0% after 50 months)$298,500p. 66$20,000
Apartment - Two Bedroom Covington1,491Traditional (declining, 0% after 50 months)$292,500p. 66$20,000
Cottage - Ashton1,720Traditional (declining, 0% after 50 months)$399,500p. 66$20,000
Cottage - Baywater1,690Traditional (declining, 0% after 50 months)$389,500p. 66$20,000
Home - Vista1,260Traditional (declining, 0% after 50 months)$246,000p. 66$20,000
Home - Regency1,375Traditional (declining, 0% after 50 months)$257,500p. 66$20,000
Home - Vista II1,440Traditional (declining, 0% after 50 months)$263,500p. 66$20,000
Home - Regency II1,460Traditional (declining, 0% after 50 months)$274,000p. 66$20,000
Home - Royale1,480Traditional (declining, 0% after 50 months)$282,000p. 66$20,000
Home - Grande1,510Traditional (declining, 0% after 50 months)$287,500p. 66$20,000
Home - Royale II1,620Traditional (declining, 0% after 50 months)$384,000p. 66$20,000
Home - Grande II1,690Traditional (declining, 0% after 50 months)$391,500p. 66$20,000
Duplex A Meadowlark1,720Traditional (declining, 0% after 50 months)$394,500p. 66$20,000
Duplex B Meadowlark1,690Traditional (declining, 0% after 50 months)$384,000p. 66$20,000
Villa - Custom/Traditional1,260Traditional (declining, 0% after 50 months)$232,000p. 66$20,000
Villa Special1,433Traditional (declining, 0% after 50 months)$256,500p. 66$20,000
Residency Agreement (50 Percent Return of Capital) · Type B (modified) (35 prices, $119,500 to $614,000)
UnitSq ftRefund planPrice, one personSecond person
Apartment - Studio52150 Percent Return of Capital$119,500p. 66$20,000
Apartment - One Bedroom Traditional72150 Percent Return of Capital$151,500p. 66$20,000
Apartment - One Bedroom Deluxe85650 Percent Return of Capital$177,000p. 66$20,000
Apartment - One Bedroom Elmwood91750 Percent Return of Capital$275,000p. 66$20,000
Apartment - One Bedroom Ashland94250 Percent Return of Capital$283,500p. 66$20,000
Apartment - Two Bedroom Traditional99650 Percent Return of Capital$205,000p. 66$20,000
Apartment - Two Bedroom Lakeside1,02350 Percent Return of Capital$219,500p. 66$20,000
Apartment - Two Bedroom Combo1,30050 Percent Return of Capital$229,500p. 66$20,000
Apartment - Two Bedroom Classic1,32550 Percent Return of Capital$234,000p. 66$20,000
Apartment - Two Bedroom Ingleside1,18050 Percent Return of Capital$328,500p. 66$20,000
Apartment - Two Bedroom Oatland1,25650 Percent Return of Capital$336,000p. 66$20,000
Apartment - Two Bedroom Orton1,35950 Percent Return of Capital$419,000p. 66$20,000
Apartment - Two Bedroom Woodlawn1,39750 Percent Return of Capital$405,000p. 66$20,000
Apartment - Two Bedroom Waverly1,45050 Percent Return of Capital$425,500p. 66$20,000
Apartment - Two Bedroom Carlisle1,48850 Percent Return of Capital$450,000p. 66$20,000
Apartment - Two Bedroom Covington1,49150 Percent Return of Capital$442,000p. 66$20,000
Cottage - Ashton1,72050 Percent Return of Capital$557,000p. 66$20,000
Cottage - Baywater1,69050 Percent Return of Capital$537,500p. 66$20,000
Home - Vista1,26050 Percent Return of Capital$315,000p. 66$20,000
Home - Regency1,37550 Percent Return of Capital$330,500p. 66$20,000
Home - Vista II1,44050 Percent Return of Capital$337,000p. 66$20,000
Home - Regency II1,46050 Percent Return of Capital$350,000p. 66$20,000
Home - Royale1,48050 Percent Return of Capital$360,500p. 66$20,000
Home - Grande1,51050 Percent Return of Capital$368,500p. 66$20,000
Home - Royale II1,62050 Percent Return of Capital$491,500p. 66$20,000
Home - Grande II1,69050 Percent Return of Capital$501,500p. 66$20,000
Duplex A Meadowlark1,72050 Percent Return of Capital$547,000p. 66$20,000
Duplex B Meadowlark1,69050 Percent Return of Capital$527,500p. 66$20,000
Villa - Custom/Traditional1,26050 Percent Return of Capital$296,500p. 66$20,000
Villa Special1,43350 Percent Return of Capital$328,500p. 66$20,000
Village Flats - Sand Dollar1,40050 Percent Return of Capital$442,000p. 66$20,000
Village Flats - Juniper1,48450 Percent Return of Capital$452,000p. 66$20,000
Village Flats - Indigo1,52650 Percent Return of Capital$499,500p. 66$20,000
Village Flats - Sagewood1,64350 Percent Return of Capital$527,500p. 66$20,000
Village Flats - Figure Eight1,91950 Percent Return of Capital$614,000p. 66$20,000
Residency Agreement (90 Percent Return of Capital) · Type B (modified) (36 prices, $181,500 to $996,500)
UnitSq ftRefund planPrice, one personSecond person
Apartment - Studio52190 Percent Return of Capital$181,500p. 66$20,000
Apartment - One Bedroom Traditional72190 Percent Return of Capital$229,500p. 66$20,000
Apartment - One Bedroom Deluxe85690 Percent Return of Capital$269,000p. 66$20,000
Apartment - One Bedroom Elmwood91790 Percent Return of Capital$351,000p. 66$20,000
Apartment - One Bedroom Ashland94290 Percent Return of Capital$360,500p. 66$20,000
Apartment - Two Bedroom Traditional99690 Percent Return of Capital$310,000p. 66$20,000
Apartment - Two Bedroom Lakeside1,02390 Percent Return of Capital$329,500p. 66$20,000
Apartment - Two Bedroom Combo1,30090 Percent Return of Capital$345,000p. 66$20,000
Apartment - Two Bedroom Classic1,32590 Percent Return of Capital$352,500p. 66$20,000
Apartment - Two Bedroom Ingleside1,18090 Percent Return of Capital$419,000p. 66$20,000
Apartment - Two Bedroom Oatland1,25690 Percent Return of Capital$429,500p. 66$20,000
Apartment - Two Bedroom Orton1,35990 Percent Return of Capital$535,500p. 66$20,000
Apartment - Two Bedroom Woodlawn1,39790 Percent Return of Capital$517,000p. 66$20,000
Apartment - Two Bedroom Waverly1,45090 Percent Return of Capital$544,000p. 66$20,000
Apartment - Two Bedroom Carlisle1,48890 Percent Return of Capital$574,500p. 66$20,000
Apartment - Two Bedroom Covington1,49190 Percent Return of Capital$563,500p. 66$20,000
Cottage - Ashton1,72090 Percent Return of Capital$768,500p. 66$20,000
Cottage - Baywater1,69090 Percent Return of Capital$749,000p. 66$20,000
Home - Vista1,26090 Percent Return of Capital$476,000p. 66$20,000
Home - Regency1,37590 Percent Return of Capital$499,500p. 66$20,000
Home - Vista II1,44090 Percent Return of Capital$509,000p. 66$20,000
Home - Regency II1,46090 Percent Return of Capital$526,500p. 66$20,000
Home - Royale1,48090 Percent Return of Capital$546,000p. 66$20,000
Home - Grande1,51090 Percent Return of Capital$555,000p. 66$20,000
Home - Royale II1,62090 Percent Return of Capital$741,500p. 66$20,000
Home - Grande II1,69090 Percent Return of Capital$755,000p. 66$20,000
Duplex A Meadowlark1,72090 Percent Return of Capital$758,000p. 66$20,000
Duplex B Meadowlark1,69090 Percent Return of Capital$739,500p. 66$20,000
Villa - Custom/Traditional1,26090 Percent Return of Capital$446,000p. 66$20,000
Villa Special1,43390 Percent Return of Capital$496,500p. 66$20,000
Duplex Tidewater2,21590 Percent Return of Capital$996,500p. 66$20,000
Village Flats - Sand Dollar1,40090 Percent Return of Capital$563,500p. 66$20,000
Village Flats - Juniper1,48490 Percent Return of Capital$576,000p. 66$20,000
Village Flats - Indigo1,52690 Percent Return of Capital$637,500p. 66$20,000
Village Flats - Sagewood1,64390 Percent Return of Capital$672,500p. 66$20,000
Village Flats - Figure Eight1,91990 Percent Return of Capital$785,000p. 66$20,000

Monthly fees

What residents pay each month, by contract and level of care. A second person adds the amount shown.

Residency Agreement (all plans) · Type B (modified) (36 prices, $3,667 to $8,085)
UnitLevel of carePer month, one personSecond person
Apartment - StudioIndependent living$3,667p. 66$1,821
Apartment - One Bedroom TraditionalIndependent living$4,064p. 66$1,821
Apartment - One Bedroom DeluxeIndependent living$4,445p. 66$1,821
Apartment - One Bedroom ElmwoodIndependent living$4,455p. 66$1,821
Apartment - One Bedroom AshlandIndependent living$4,544p. 66$1,821
Apartment - Two Bedroom TraditionalIndependent living$4,844p. 66$1,821
Apartment - Two Bedroom LakesideIndependent living$4,975p. 66$1,821
Apartment - Two Bedroom ComboIndependent living$5,090p. 66$1,821
Apartment - Two Bedroom ClassicIndependent living$5,763p. 66$1,821
Apartment - Two Bedroom InglesideIndependent living$4,854p. 66$1,821
Apartment - Two Bedroom OatlandIndependent living$5,009p. 66$1,821
Apartment - Two Bedroom OrtonIndependent living$5,703p. 66$1,821
Apartment - Two Bedroom WoodlawnIndependent living$5,664p. 66$1,821
Apartment - Two Bedroom WaverlyIndependent living$5,934p. 66$1,821
Apartment - Two Bedroom CarlisleIndependent living$5,971p. 66$1,821
Apartment - Two Bedroom CovingtonIndependent living$6,010p. 66$1,821
Cottage - AshtonIndependent living$7,239p. 66$1,821
Cottage - BaywaterIndependent living$7,070p. 66$1,821
Home - VistaIndependent living$6,244p. 66$1,821
Home - RegencyIndependent living$6,259p. 66$1,821
Home - Vista IIIndependent living$6,464p. 66$1,821
Home - Regency IIIndependent living$6,504p. 66$1,821
Home - RoyaleIndependent living$6,557p. 66$1,821
Home - GrandeIndependent living$6,642p. 66$1,821
Home - Royale IIIndependent living$6,849p. 66$1,821
Home - Grande IIIndependent living$6,974p. 66$1,821
Duplex A MeadowlarkIndependent living$7,239p. 66$1,821
Duplex B MeadowlarkIndependent living$7,070p. 66$1,821
Villa - Custom/TraditionalIndependent living$5,588p. 66$1,821
Villa SpecialIndependent living$6,273p. 66$1,821
Duplex TidewaterIndependent living$8,085p. 66$1,743
Village Flats - Sand DollarIndependent living$5,368p. 66$1,821
Village Flats - JuniperIndependent living$5,939p. 66$1,821
Village Flats - IndigoIndependent living$6,200p. 66$1,821
Village Flats - SagewoodIndependent living$6,820p. 66$1,821
Village Flats - Figure EightIndependent living$7,439p. 66$1,821

Fee increases, year by year

2021: 4%20212022: 7.9%20222023: 6%20232024: 5%20242025: 4.5%2025
Independent living, yearly increase. Figures in the table.
YearLevel of careUnitIncreaseMonthly fee, before and after
2025Independent livingAll units4.5%Percent onlyp. 20
2024Independent livingAll units5%Percent onlyp. 20
2023Independent livingAll units6%Percent onlyp. 20
2022Independent livingAll units7.9%Percent onlyp. 20
2021Independent livingAll units4%Percent onlyp. 20

Refunds

What comes back from the entrance fee when you leave or die, and when it is paid.

90 Percent Return of Capitalp. 211

90% of the entrance fee is refunded on cancellation after move-in or death, without interest, within 30 days after a new resident has reoccupied the residence and paid the full entrance fee. The $20,000 second-person entrance fee is not refundable.

Kept on move-in
10% of the fee
Declines by
Does not decline
Never less than
90% of the fee
Longest wait
No limit stated
Paid
When your unit is re-occupied and the new resident has paid

75 Percent Return of Capitalp. 181

75% of the entrance fee is refunded on cancellation after move-in or death, without interest, within 30 days after a new resident has reoccupied the residence and paid the full entrance fee. The $20,000 second-person entrance fee is not refundable.

Kept on move-in
25% of the fee
Declines by
Does not decline
Never less than
75% of the fee
Longest wait
No limit stated
Paid
When your unit is re-occupied and the new resident has paid

50 Percent Return of Capitalp. 150

50% of the entrance fee is refunded on cancellation after move-in or death, without interest, within 30 days after a new resident has reoccupied the residence and paid the full entrance fee. The $20,000 second-person entrance fee is not refundable.

Kept on move-in
50% of the fee
Declines by
Does not decline
Never less than
50% of the fee
Longest wait
No limit stated
Paid
When your unit is re-occupied and the new resident has paid

Traditional (declining, 0% after 50 months)p. 242

The refund falls by 2% of the entrance fee for each month (or part month) of occupancy and reaches nothing after 50 months. Any refund is paid within 30 days after a new resident reoccupies the residence and pays the full entrance fee; the second-person fee is not refundable. Offered on a limited basis and not for every unit type.

Kept on move-in
0% 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: $163,350 (90% 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: Plantation Village, Inc. d/b/a Porters Neck Village and Subsidiary (consolidated).
  • Ratios: Plantation Village, Inc. (provider only).

Days cash on hand

493 days FY2025p. 2

Debt service coverage

1.82x FY2025p. 2

Read with these figuresThe reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses.

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 yearFY2025p. 42FY2024p. 2FY2023p. 2
Days cash on hand493 days506 days497 days
Debt service coverage1.82x2.40x1.08x
Operating margin11%13%3%
Total assets$124.3 million$120.7 millionNot disclosed
Total liabilities$110.7 million$109.3 millionNot disclosed
Long-term debt$48.6 million$48.7 millionNot disclosed
Entrance fees not yet earned (deferred revenue)$16.8 million$17.0 millionNot disclosed
Refunds owed to residents (refundable fee liability)$39.8 million$40.1 millionNot disclosed
Net position (assets minus liabilities)$13.6 million$11.3 millionNot disclosed

Auditor: Forvis Mazars, LLP. Opinion: Unmodified (clean) opinionp. 42

Occupancy

Level of care2025p. 172024p. 172023p. 172022p. 172021p. 17
Independent living95.4%91.94%88.54%89.7%88.1%
Assisted livingNot disclosedNot disclosedNot disclosedNot disclosedNot disclosed
Memory careNot disclosedNot disclosedNot disclosedNot disclosedNot disclosed
Nursing careNot disclosedNot disclosedNot disclosedNot disclosedNot disclosed

Nursing care on campus

The filing lists no nursing beds on campus, so there is no CMS nursing-home record to show.

In brief

Porters Neck Village in Wilmington, NC is a nonprofit independent living community opened in 1988 and managed by Life Care Services, with 239 apartments, villas, duplexes and cottages; assisted living and nursing are provided at the adjacent, unrelated Davis Community. Entrance fees run from $95,000 to $996,500 depending on unit and on whether the resident picks a 50% or 90% return-of-capital plan or a declining Traditional plan, with monthly fees of $3,667 to $8,085 for one person. The contract is Type B: each resident gets up to 30 days a year of temporary assisted living and 30 of temporary nursing care covered, and permanent care is billed at 75% of the Davis non-resident rate.PDF

Also in Wilmington

Sources

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.