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Ardenwoods and Deerfield Episcopal Retirement Community compared
Two North Carolina communities about 5 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Ardenwoods | Deerfield Episcopal Retirement Community |
|---|---|---|
| Location | Arden, NC | Asheville, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type A (life care) |
| Entrance fee, one person | $271,000 to $484,000p. 22 | $325,485 to $989,573p. 21p. 22 |
| Monthly fee, independent living | $3,310 to $4,180p. 22 | $3,917 to $6,664p. 19p. 20 |
| Refund plans | Standard (Traditional) 24-month; Ninety Percent Refundp. 53p. 41 | Standard Entrance Fee Option; 50% Refund Option; 90% Refund Optionp. 131p. 132 |
| Highest guaranteed refund | 90% of the feep. 53p. 41 | 90% of the feep. 131p. 132 |
| When a refund is paid | When your unit is re-occupied or after 24 months, whichever is first; When your unit is re-occupied or after 36 months, whichever is firstp. 53p. 41 | Within a fixed number of days; When your unit is re-occupied or after 12 months, whichever is firstp. 131p. 132 |
| Days cash on hand | 475.24 days (FY2025)p. 5Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore, not Ardenwoods alone. The operating ratio was 116.3% and the net operating margin -15.4% in FY2025 (p5). The operating reserve shown is ThriveMore's; the statement gives Ardenwoods' operating reserve at 9/30/2025 as $1,751,435 (p27). | 1276 days (FY2025)p. 2The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 1.36x (FY2025)p. 5Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore, not Ardenwoods alone. The operating ratio was 116.3% and the net operating margin -15.4% in FY2025 (p5). The operating reserve shown is ThriveMore's; the statement gives Ardenwoods' operating reserve at 9/30/2025 as $1,751,435 (p27). | 7.41x (FY2025)p. 2The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation). |
| Independent living occupancy | Not disclosed in the 2026 filing | 97% (2025)p. 17 |
| Net position | $75.2 million (FY2025)p. 5 | $124.8 million (FY2025)p. 49 |
| Whose finances | Baptist Retirement Homes of North Carolina, Inc. dba ThriveMore and Affiliate (consolidated); ratios for ThriveMore (consolidated)p. 5 | Deerfield Episcopal Retirement Community, Inc. and Affiliate (Deerfield Charitable Foundation), consolidated; ratios for Deerfield Episcopal Retirement Community, Inc. (provider only)p. 49 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 5 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 49 |
| Nursing care, CMS rating | No CMS record linked | 5 of 5 (CMS overall) |
What care costs later, in each contract
Ardenwoods
Type B (modified): Residents get priority admission to Heather Glen assisted living with no extra entrance payment and 14 free days of care over the life of the contract; after that they pay the full per diem rate.p. 48
Deerfield Episcopal Retirement Community
Type A (life care): On moving to assisted living or skilled nursing, a resident continues to pay the monthly fee for the residence they occupied at the time of transfer, plus two extra meals a day and ancillary services such as medications and therapy. Upgraded care accommodations cost the difference between direct-admission rates.p. 126