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Brookridge Retirement Community and Trinity Elms compared
Two North Carolina communities about 11 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Brookridge Retirement Community | Trinity Elms |
|---|---|---|
| Location | Winston-Salem, NC | Clemmons, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Rental |
| Entrance fee, one person | $54,700 to $475,000p. 20 | None: rental |
| Monthly fee, independent living | $1,750 to $5,220p. 20 | $2,070 to $2,740p. 114 |
| Refund plans | Traditional Payment Program (Standard Plan – 24 Month); Fifty Percent Refund Program; Ninety Percent Refund Programp. 154p. 12 | None: rental contract |
| Highest guaranteed refund | 0% of the feep. 154p. 12 | None: rental contract |
| When a refund is paid | When your unit is re-occupied or after 24 months, whichever is firstp. 154p. 12 | None: rental contract |
| Days cash on hand | 475.24 days (FY2025)p. 4Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore (Brookridge, The Gardens of Taylor Glen, Ardenwoods, The Taylor House and ThriveMore at Home), not Brookridge alone. ThriveMore had an $8.8M operating loss in FY2025 (p34); its operating ratio was 116.3% and net operating margin -15.4% (p4). | 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 | 1.36x (FY2025)p. 4Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore (Brookridge, The Gardens of Taylor Glen, Ardenwoods, The Taylor House and ThriveMore at Home), not Brookridge alone. ThriveMore had an $8.8M operating loss in FY2025 (p34); its operating ratio was 116.3% and net operating margin -15.4% (p4). | 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 | 95% (2025)p. 8 | 95% (2025)p. 21 |
| Net position | $75.2 million (FY2025)p. 32 | $20.9 million (FY2025)p. 79 |
| Whose finances | Baptist Retirement Homes of North Carolina, Inc. dba ThriveMore and Affiliate (consolidated); ratios for ThriveMore (consolidated)p. 32 | 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, CliftonLarsonAllen LLPp. 32 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 79 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 2 of 5 (CMS overall) |
What care costs later, in each contract
Brookridge Retirement Community
Type B (modified): 14 pre-paid days in the Health Care Center in total from the date of occupancy, during which you keep paying the monthly fee. After that, assisted living, memory care and nursing are charged at 100% of the published rate; the assisted living rate for entrance-fee payers is $1,220 a month below the rate without an entrance fee.p. 149
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