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Arbor Acres and Trinity Elms compared
Two North Carolina communities about 10 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Arbor Acres | Trinity Elms |
|---|---|---|
| Location | Winston-Salem, NC | Clemmons, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service) | Rental |
| Entrance fee, one person | $54,000 to $689,000p. 22p. 23 | None: rental |
| Monthly fee, independent living | $2,273 to $6,605p. 20p. 21 | $2,070 to $2,740p. 114 |
| Refund plans | Declining Balance (0% after 50 months)p. 101 | None: rental contract |
| Highest guaranteed refund | 0% of the feep. 101 | None: rental contract |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 101 | None: rental contract |
| Days cash on hand | 596 days (FY2025)p. 2Unrestricted cash and investments of $47.6M (p32, p45) include $10.2M held by the Home Care and Strategic Development subsidiaries for their own purposes. On that $47.6M and 2025 expenses less depreciation (p47) days cash is about 413; the reported 596 matches only if the board-designated endowments ($10.1M) and the $10.8M operating reserve on the balance sheet are also counted. The obligated group alone (Arbor Acres without those subsidiaries) reported 545 days and 2.88x for 2025 (p36, p39). | 368 days (FY2025, interim)p. 2Figures for 'Lutheran Services Carolinas Retirement Center – Clemmons, Inc.' as headed on Table FS-1 (the LSA obligated group's ratios are in Table FS-2). The statement does not say which entities the FS-1 ratios cover or whether they come from the audit. The LSA obligated group, which owes the bonds, reports 408 days and 4.48x coverage for FY2025 (FS-2, p2). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 3.03x (FY2025)p. 2Unrestricted cash and investments of $47.6M (p32, p45) include $10.2M held by the Home Care and Strategic Development subsidiaries for their own purposes. On that $47.6M and 2025 expenses less depreciation (p47) days cash is about 413; the reported 596 matches only if the board-designated endowments ($10.1M) and the $10.8M operating reserve on the balance sheet are also counted. The obligated group alone (Arbor Acres without those subsidiaries) reported 545 days and 2.88x for 2025 (p36, p39). | 1.87x (FY2025, interim)p. 2Figures for 'Lutheran Services Carolinas Retirement Center – Clemmons, Inc.' as headed on Table FS-1 (the LSA obligated group's ratios are in Table FS-2). The statement does not say which entities the FS-1 ratios cover or whether they come from the audit. The LSA obligated group, which owes the bonds, reports 408 days and 4.48x coverage for FY2025 (FS-2, p2). |
| Independent living occupancy | 97.2% (2025)p. 17 | 95% (2025)p. 21 |
| Net position | $89.4 million (FY2025)p. 2 | $20.9 million (FY2025)p. 79 |
| Whose finances | Arbor Acres United Methodist Retirement Community, Inc. and Affiliates (consolidated); ratios for Arbor Acres (provider, consolidated with Home Care and Strategic Development LLCs)p. 2 | Total Trinity Elms: a combined column of the Lutheran Services for the Aging consolidating balance sheet that the statement defines as the sum of Luther Homes Forsyth County, LSA Elms Property, Trinity Elms H&R, Trinity Elms IL Clemmons and Trinity Elms AL Clemmons (not the independent living provider alone); ratios for 'Lutheran Services Carolinas Retirement Center – Clemmons, Inc.' as headed on Table FS-1 (the LSA obligated group's ratios are in Table FS-2)p. 79 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 2 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 79 |
| Nursing care, CMS rating | 4 of 5 (CMS overall) | 2 of 5 (CMS overall) |
What care costs later, in each contract
Arbor Acres
Type C (fee for service): Health care is charged at the community's prevailing per diem rates. Residents get priority access to assisted living, memory care and nursing beds, though access is not guaranteed; Medicare-certified skilled beds are available after 30 days of residence.p. 21
Trinity Elms
Rental: Independent living residents get priority access to Trinity Elms assisted living and health and rehab, if a bed is available, and pay the published per diem rates there; the independent living rent continues until the apartment is vacated. The agreement states it is not a life-care contract.p. 20