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Abernethy Laurels and Grace Ridge Retirement Community compared
Two North Carolina communities about 30 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Abernethy Laurels | Grace Ridge Retirement Community |
|---|---|---|
| Location | Newton, NC | Morganton, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified), Rental | Type A (life care), Type B (modified), Type C (fee for service) |
| Entrance fee, one person | $40,500 to $543,000p. 28 | $78,076 to $547,138p. 29p. 26 |
| Monthly fee, independent living | $1,949 to $5,094p. 26 | $1,566 to $6,218p. 29p. 26 |
| Refund plans | Fully Declining (0% Refundable); 50% Refundablep. 49p. 48 | Amortizing (fully amortized after 25 months); 90% Refund (Lifecare or Standard)p. 16p. 31 |
| Highest guaranteed refund | 50% of the feep. 49p. 48 | 90% of the feep. 16p. 31 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 49p. 48 | When your unit is re-occupied or after 24 months, whichever is firstp. 16p. 31 |
| Days cash on hand | 566 days (FY2025)p. 2Figures for EveryAge (provider only; includes Piedmont Crossing). Provider-level ratios for EveryAge. The bond obligated group (which adds Lake Prince Woods, Providence Place, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p44, p46). Provider-level days cash rests on $78,345,214 of unrestricted cash and investments held by EveryAge (Table 29.1-29.2, p39-40). | 61 days (FY2025, calculated)p. 52The statement reports no ratios; we computed about 61 days from the audit: cash $375,361 plus marketable securities $1,450,073, over FY2025 cash operating expenses of $11.0M. The $5.66M statutory operating reserve is excluded; counting it would give about 248 days. The balance sheet shows no long-term debt, and operations used $2.0M of cash in FY2025 and $5.7M in FY2024 (p54). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 5.26x (FY2025)p. 2Figures for EveryAge (provider only; includes Piedmont Crossing). Provider-level ratios for EveryAge. The bond obligated group (which adds Lake Prince Woods, Providence Place, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p44, p46). Provider-level days cash rests on $78,345,214 of unrestricted cash and investments held by EveryAge (Table 29.1-29.2, p39-40). | Not disclosed in the 2026 filingThe statement reports no ratios; we computed about 61 days from the audit: cash $375,361 plus marketable securities $1,450,073, over FY2025 cash operating expenses of $11.0M. The $5.66M statutory operating reserve is excluded; counting it would give about 248 days. The balance sheet shows no long-term debt, and operations used $2.0M of cash in FY2025 and $5.7M in FY2024 (p54). |
| Independent living occupancy | 91.98% (2025)p. 23 | Not disclosed in the 2026 filing |
| Net position | $69.6 million (FY2025)p. 2 | $449,975 (FY2025)p. 52 |
| Whose finances | EveryAge and Affiliates (combined); ratios for EveryAge (provider only; includes Piedmont Crossing)p. 2 | Grace LifeCare, Inc.p. 52 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 2 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 52 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Abernethy Laurels
Type B (modified): Assisted living and nursing are paid at the per diem rates with a fixed daily discount for contract holders; residential living residents also get 12 non-cumulative nurse visits a year. If no bed is available, residents get priority application at other EveryAge nursing facilities.p. 27
Grace Ridge Retirement Community
Type A (life care): Care in the Health Care Center (adult care, nursing, special care) costs the same first-person monthly fee, plus two extra meals a day.p. 33
Type B (modified): Health Care Center care at a 30% discount on the full daily rate, with no included days.p. 33
Type C (fee for service): Health Care Center care at the full daily rate; lower entrance and monthly fees than Plans A and B.p. 33