Trinity Oaks
728 Klumac Road, Salisbury, North Carolina 28144 · Community website
- Operator:
- Lutheran Retirement Center - Salisbury, Inc. (d/b/a Trinity Oaks), managed by LSA Management, Inc.
- Ownership:
- Nonprofit
- Affiliation:
- Lutheran (North Carolina Synod of the Evangelical Lutheran Church in America)
- Opened:
- 1993
Affiliate of Lutheran Services for the Aging, Inc.; nursing is operated by Lutheran Home at Trinity Oaks, Inc. (Trinity Oaks Health and Rehab) on the same campus.
- 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
Monthly fee, independent living
Refund plans offered
- 90% RefundNever less than 90% of the fee
- 50% RefundNever less than 50% of the fee
- Limited RefundCan decline to nothing
Days cash on hand
Read the note on this figure
No audit was attached: Appendix A, titled 'Audited Financial Statements', holds a management actual-vs-forecast schedule, so these figures and ratios are unaudited. The 659 days count $45.0M of campus cash and investments including the $2.3M statutory operating reserve (about 625 days without it), while Section 29.1 reports only $9.7M of unrestricted cash and investments. Coverage is high because the provider carries little debt (p46). The LSA obligated group, jointly liable for the system's bonds, reported 408 days cash and 4.48x coverage (Table FS-2).
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)
Fee-for-service: assisted living and the 115-bed nursing center on campus are charged at their published rates, with no included days or discount. Residents get priority access when a bed is available; on a permanent move they keep paying a reduced monthly fee until their residence is vacated.p. 145
- Assisted living
- Assisted living monthly fee by level of care ($6,906 Standard to $8,001 Maximum Care)
- Nursing care
- Trinity Oaks Health and Rehab daily rates, plus the independent living monthly fee until the apartment or cottage is vacated (reduced to remove duplicated services)
- Priority for a bed
- Yes, residents come before outside admissions
| Independent living | 179 |
|---|---|
| Assisted living | 50 |
| Memory care | Not disclosed in the 2026 filing |
| Nursing care | 115 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residency Agreement · Type C (fee for service) (21 prices, $69,627 to $499,888)
| Unit | Sq ft | Refund plan | Price, one person | Second person |
|---|---|---|---|---|
| The Salisburian - Studio | 504 | Limited Refund | $69,627p. 27 | $4,704 |
| The Salisburian - Studio | 504 | 50% Refund | $93,046p. 27 | $6,269 |
| The Salisburian - Studio | 504 | 90% Refund | $166,469p. 27 | $11,284 |
| The Rowan - One Bedroom Standard | 607 | Limited Refund | $81,978p. 27 | $4,704 |
| The Rowan - One Bedroom Standard | 607 | 50% Refund | $109,586p. 27 | $6,269 |
| The Rowan - One Bedroom Standard | 607 | 90% Refund | $195,586p. 27 | $11,284 |
| The Piedmont - One Bedroom Deluxe | 695 | Limited Refund | $86,083p. 27 | $4,704 |
| The Piedmont - One Bedroom Deluxe | 695 | 50% Refund | $114,566p. 27 | $6,269 |
| The Piedmont - One Bedroom Deluxe | 695 | 90% Refund | $205,080p. 27 | $11,284 |
| The Carolinian - Two Bedroom | 971 | Limited Refund | $128,492p. 28 | $4,704 |
| The Carolinian - Two Bedroom | 971 | 50% Refund | $171,533p. 28 | $6,269 |
| The Carolinian - Two Bedroom | 971 | 90% Refund | $306,675p. 28 | $11,284 |
| Cottage Small | 1,674 to 1,765 | Limited Refund | $151,851p. 28 | $6,585 |
| Cottage Small | 1,674 to 1,765 | 50% Refund | $202,462p. 28 | $8,776 |
| Cottage Small | 1,674 to 1,765 | 90% Refund | $362,535p. 28 | $15,671 |
| Cottage Medium | 1,821 to 2,095 | Limited Refund | $168,941p. 28 | $6,585 |
| Cottage Medium | 1,821 to 2,095 | 50% Refund | $225,250p. 28 | $8,776 |
| Cottage Medium | 1,821 to 2,095 | 90% Refund | $402,920p. 28 | $15,671 |
| Cottage Large | 2,250 to 2,932 | Limited Refund | $220,213p. 28 | $6,585 |
| Cottage Large | 2,250 to 2,932 | 50% Refund | $293,610p. 28 | $8,776 |
| Cottage Large | 2,250 to 2,932 | 90% Refund | $499,888p. 28 | $15,671 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residency Agreement · Type C (fee for service) (11 prices, $2,408 to $8,001)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Independent Living - Studio | Independent living | $2,482p. 25 | Not listed |
| Independent Living - One Bedroom | Independent living | $3,117p. 25 | $1,305 |
| Independent Living - One Bedroom Deluxe | Independent living | $3,333p. 25 | $1,307 |
| Independent Living - Two Bedroom | Independent living | $3,981p. 25 | $1,305 |
| Independent Living - Cottage | Independent living | $4,293p. 25 | $1,454 |
| Independent Living - Cottage Freedom Plan | Independent living | $2,408p. 25 | $317 |
| Independent Living - Cottage Unbundled Plan | Independent living | $3,351p. 25 | $951 |
| Assisted Living - Standard | Assisted living | $6,906p. 26 | Not listed |
| Assisted Living - Enhanced Care Services | Assisted living | $7,271p. 26 | Not listed |
| Assisted Living - Enhanced Care Plus Services | Assisted living | $7,636p. 26 | Not listed |
| Assisted Living - Maximum Care | Assisted living | $8,001p. 26 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 4% | Percent onlyp. 26 |
| 2026 | Assisted living | All units | 4% | Percent onlyp. 27 |
| 2025 | Independent living | All units | 4% | Percent onlyp. 26 |
| 2025 | Assisted living | All units | 4% | Percent onlyp. 27 |
| 2024 | Independent living | All units | 4% | Percent onlyp. 26 |
| 2024 | Assisted living | All units | 4% | Percent onlyp. 27 |
| 2023 | Independent living | All units | 5% | Percent onlyp. 26 |
| 2023 | Assisted living | All units | 3% | Percent onlyp. 27 |
| 2022 | Independent living | All units | 3% | Percent onlyp. 26 |
| 2022 | Assisted living | All units | 4% | Percent onlyp. 27 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
90% Refundp. 47
1% of the entrance fee is kept at move-in and the refund falls another 0.5% a month for 18 months, leaving 90% refundable. It is paid after the apartment or cottage is vacated and reoccupied.
- Kept on move-in
- 1% of the fee
- Declines by
- 0.5% a month for 18 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
50% Refundp. 47
2% of the entrance fee is kept at move-in and the refund falls another 1% a month for 48 months, leaving 50% refundable. It is paid after the unit is vacated and reoccupied.
- Kept on move-in
- 2% of the fee
- Declines by
- 1% a month for 48 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
Limited Refundp. 47
A 4% service fee is kept at move-in and the refund falls 2% a month; after 48 months nothing is refundable. Any balance is paid after the unit is reoccupied.
- 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
- When your unit is re-occupied and the new resident has paid
Refund calculator
Estimated refund: $149,822 (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.
- Trinity Oaks is part of Lutheran Services for the Aging, Inc. (Lutheran Services Carolinas) Obligated Group.
- Balance sheet: Trinity Oaks campus combined (Lutheran Retirement Center - Salisbury, Lutheran Home at Trinity Oaks, and the property company), management actual-vs-forecast schedule.
- Ratios: Lutheran Retirement Center - Salisbury, Inc. (provider only per FS-1; the 659 days reproduce from the Trinity Oaks campus consolidated schedule).
- Ratios are interim figures, unaudited.
Days cash on hand
659 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
23.80x FY2025p. 2
- Its lenders’ minimum: 1.20xp. 46
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresNo audit was attached: Appendix A, titled 'Audited Financial Statements', holds a management actual-vs-forecast schedule, so these figures and ratios are unaudited. The 659 days count $45.0M of campus cash and investments including the $2.3M statutory operating reserve (about 625 days without it), while Section 29.1 reports only $9.7M of unrestricted cash and investments. Coverage is high because the provider carries little debt (p46). The LSA obligated group, jointly liable for the system's bonds, reported 408 days cash and 4.48x coverage (Table FS-2).
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. 52 | FY2024p. 2 | FY2023p. 2 |
|---|---|---|---|
| Days cash on hand | 659 days | 560 days | 443 days |
| Debt service coverage | 23.80x | 22.23x | 16.68x |
| Total assets | $71.9 million | Not disclosed | Not disclosed |
| Total liabilities | $24.0 million | Not disclosed | Not disclosed |
| Long-term debt | $4.2 million | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $8.1 million | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $9.8 million | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $47.9 million | Not disclosed | Not disclosed |
Auditor: Not disclosed in the 2026 filing. Opinion: Not disclosed in the 2026 filingp. 52
Occupancy
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
- 3 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 15. Trinity Oaks on Care Compare
In brief
Trinity Oaks in Salisbury, an affiliate of Lutheran Services Carolinas that opened in 1993, has 179 independent living apartments and cottages, 50 assisted living beds and a 115-bed nursing center on one campus. Entrance fees run from $69,627 for a studio on the Limited Refund plan to $499,888 for a large cottage on the 90% plan. Assisted living and nursing are charged at their own rates.PDF
Nearest communities in North Carolina
- The Pines at Davidson
Davidson · 23 miles away
Entrance fee: $40,000 to $1,150,000
- Piedmont Crossing
Thomasville · 25 miles away
Entrance fee: $61,500 to $568,500
- Trinity Elms
Clemmons · 26 miles away
Entrance fee: None: rental
Sources
- Trinity Oaks — 2026 Disclosure Statement (Revision 1)North Carolina Department of Insurance · filed 2026, fiscal 2025 finances · 172 pages · retrieved 2026-10-15
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