Southminster
8919 Park Road, Charlotte, North Carolina 28210 · Community website
- Operator:
- Southminster, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Sponsored by Christ Episcopal Church and Myers Park Baptist Church (Charlotte)
- Opened:
- 1987
Nonstock nonprofit with no owners; single-site. Obligated group is Southminster, Inc. plus SM Rawlinson Road, LLC (formed February 2026 to hold investment land).
- 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
Monthly fee, independent living
Refund plans offered
- StandardCan decline to nothing
- 50% RefundableNever less than 50% of the fee
- 90% RefundableNever less than 90% of the fee
Days cash on hand
Read the note on this figure
The 270 days counts the $8,920,976 statutory operating reserve. On the audited balance sheet (p47), cash $1,579,946 + short-term investments $2,205,333 + long-term investments $17,630,282 = $21,415,561, about 190 days of cash operating expenses (p49); with the reserve, $30,336,537 ≈ 270 days. The statement's narrative gives unrestricted cash and investments as $30,264,627 (p32) and $30,624,627 (p33); neither matches the audited balance sheet.
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)
14 Health Center Credit Days a year, which carry forward up to 44 days; while they are used the daily rate is waived and the independent living monthly fee continues. After that, care is billed at resident daily rates roughly 6-10% below what direct admissions pay. Southminster's Health Center is not Medicare or Medicaid certified.p. 19
- Assisted living
- After Health Center Credit Days: resident rate $308-$370 a day ($9,368-$11,254 a month); direct admissions pay $327-$395 a day
- Nursing care
- After Health Center Credit Days: resident rate $464-$505 a day ($14,113-$15,360 a month); direct admissions pay $514-$542 a day
- Care days included
- 14
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 321 |
|---|---|
| Assisted living | 25 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 60 |
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) (9 prices, $158,500 to $1,248,300)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Apartment – One-bedroom | Standard | $158,500 to $344,600p. 98 | $35,000 |
| Apartment – One-bedroom/den | Standard | $306,000 to $536,500p. 98 | $35,000 |
| Apartment – Two-bedrooms | Standard | $328,400 to $840,900p. 98 | $35,000 |
| Apartment – Two-bedrooms/den | Standard | $459,600 to $1,160,400p. 98 | $35,000 |
| Apartment – Three-bedroom | Standard | from $1,248,300p. 98 | $35,000 |
| Terrace – Two-bedrooms | Standard | $515,000 to $562,300p. 98 | $35,000 |
| Terrace – Two-bedrooms/den | Standard | $601,800 to $860,000p. 98 | $35,000 |
| Cottage – Small sunroom | Standard | from $479,200p. 98 | $35,000 |
| Cottage – Large sunroom | Standard | $577,600 to $639,600p. 98 | $35,000 |
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) (11 prices, $4,488 to $15,360)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Apartment – One-bedroom | Independent living | $4,488 to $4,861p. 98 | $2,513 |
| Apartment – One-bedroom/den | Independent living | $4,861 to $5,494p. 98 | $2,513 |
| Apartment – Two-bedrooms | Independent living | $4,861 to $6,555p. 98 | $2,513 |
| Apartment – Two-bedrooms/den | Independent living | $5,437 to $6,988p. 98 | $2,513 |
| Apartment – Three-bedroom | Independent living | $8,120p. 98 | $2,513 |
| Terrace – Two-bedrooms | Independent living | $5,779 to $5,835p. 98 | $2,513 |
| Terrace – Two-bedrooms/den | Independent living | $5,913 to $6,646p. 98 | $2,513 |
| Cottage – Small sunroom | Independent living | $4,847p. 98 | $2,513 |
| Cottage – Large sunroom | Independent living | $5,017 to $5,070p. 98 | $2,513 |
| Assisted Living | Assisted living | $9,368 to $11,254p. 21 | Not listed |
| Skilled Nursing | Nursing care | $14,113 to $15,360p. 21 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 4.9% | Percent onlyp. 22 |
| 2025 | Independent living | All units | 5.5% | Percent onlyp. 22 |
| 2024 | Independent living | All units | 5.5% | Percent onlyp. 22 |
| 2023 | Independent living | All units | 4.3% | Percent onlyp. 22 |
| 2022 | Independent living | All units | 3.2% | Percent onlyp. 22 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standardp. 138
The refund falls 5% of the entrance fee a month and reaches nothing after 20 months. Refunds are paid only when the last surviving resident on the contract leaves, within 30 days after the next resident of the vacated independent living home pays their entrance fee in full; there is no refund on a permanent move to the Health Center and no deadline.
- Kept on move-in
- 0% of the fee
- Declines by
- 5% a month for 20 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
50% Refundablep. 138
Priced at 1.4 times the Standard entrance fee. The refund falls 5% a month for 10 months, then stays at 50%. Refunds are paid only when the last surviving resident on the contract leaves, within 30 days after the next resident of the vacated independent living home pays their entrance fee in full; there is no refund on a permanent move to the Health Center and no deadline.
- Kept on move-in
- 0% of the fee
- Declines by
- 5% a month for 10 months
- 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
90% Refundablep. 138
Priced at 2.0 times the Standard entrance fee. The refund falls 5% a month for 2 months, then stays at 90%. Refunds are paid only when the last surviving resident on the contract leaves, within 30 days after the next resident of the vacated independent living home pays their entrance fee in full; there is no refund on a permanent move to the Health Center and no deadline.
- Kept on move-in
- 0% of the fee
- Declines by
- 5% a month for 2 months
- 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
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: Southminster, Inc. and Southminster Foundation, Inc. (combined).
- Ratios: Southminster, Inc. (provider only; obligated group identical for actual years).
Days cash on hand
270 days FY2025p. 37
- Its lenders’ minimum: 180 daysp. 68
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
1.78x FY2025p. 37
- Its lenders’ minimum: 1.20xp. 68
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresThe 270 days counts the $8,920,976 statutory operating reserve. On the audited balance sheet (p47), cash $1,579,946 + short-term investments $2,205,333 + long-term investments $17,630,282 = $21,415,561, about 190 days of cash operating expenses (p49); with the reserve, $30,336,537 ≈ 270 days. The statement's narrative gives unrestricted cash and investments as $30,264,627 (p32) and $30,624,627 (p33); neither matches the audited balance sheet.
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. 48 | FY2024p. 37 | FY2023p. 37 |
|---|---|---|---|
| Days cash on hand | 270 days | 233 days | 217 days |
| Debt service coverage | 1.78x | 1.38x | 2.17x |
| Operating margin | 13% | 10.1% | 21.1% |
| Total assets | $237.7 million | Not disclosed | Not disclosed |
| Total liabilities | $253.7 million | Not disclosed | Not disclosed |
| Long-term debt | $145.8 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $73.9 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $23.3 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | −$16.0 million | Not disclosed | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 48
Occupancy
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2026-02 Formed wholly owned SM Rawlinson Road, LLC, which bought land for investment for about $2.4 million and joined the bond obligated group.p. 14
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
Southminster is a single-site continuing care retirement community in Charlotte, opened in 1987 and sponsored by Christ Episcopal Church and Myers Park Baptist Church, with 321 independent living homes, 25 assisted living units and 60 skilled nursing beds. Standard-plan entrance fees run from $158,500 to $1,248,300 (refundable plans cost 1.4 or 2.0 times as much), and residents get 14 Health Center credit days a year, then care at resident daily rates below the direct-admission price. The audited FY2025 balance sheet shows a net deficit of $16.0 million.PDF
Nearest communities in North Carolina
- The Cypress of Charlotte
Charlotte · 2 miles away
Entrance fee: Purchase + membership fee
- The Sharon at SouthPark
Charlotte · 3 miles away
Entrance fee: $26,500 to $907,300
- Carmel Hills
Charlotte · 3 miles away
Entrance fee: $12,005 to $279,035
Sources
- Southminster — 2026 Disclosure StatementNorth Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 141 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.