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Carol Woods and Carolina Meadows Retirement Community compared
Two communities in Chapel Hill, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Carol Woods | Carolina Meadows Retirement Community |
|---|---|---|
| Location | Chapel Hill, NC | Chapel Hill, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type C (fee for service) |
| Entrance fee, one person | $116,600 to $671,700p. 196 | $154,700 to $925,100p. 103 |
| Monthly fee, independent living | $2,905 to $6,858p. 189p. 188 | $3,687 to $4,849p. 103 |
| Refund plans | Declining Balance (0% after 50 months)p. 152 | 75% Refund; Equity Advantage Refundp. 32p. 193 |
| Highest guaranteed refund | 0% of the feep. 152 | 75% of the feep. 32p. 193 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 152 | When your unit is re-occupied or after 24 months, whichever is firstp. 32p. 193 |
| Days cash on hand | 690 days (FY2025)p. 2The reported 690 days counts the $8.76M statutory operating reserve: Carol Woods' own cash ($0.58M) + investments ($53.62M) + the reserve ($8.76M) = the $62.95M of 'unrestricted cash and investments' the statement cites (p42, p91). Cash and investments alone ($54.2M) on 2025 expenses less depreciation are about 593 days for Carol Woods alone (p91-93) and about 586 days consolidated (p61-62). | 433 days (FY2025)p. 2Figures for Carolina Meadows, Inc. (provider only). The 433 days appears to count the $11.6M NC operating reserve and $5.4M board-designated for unit deposits (assets limited as to use, p72) as well as cash and unrestricted investments. Carolina Meadows, Inc.'s cash ($7.2M) and unrestricted investments ($32.4M) alone, on 2025 expenses less depreciation (p86, p88), are about 297 days. The negative net position reflects $196.2M of refundable advance fees carried as a liability. |
| Its lenders' minimum | Not disclosed in the 2026 filing | At least 150 daysp. 77 |
| Debt service coverage | 1.47x (FY2025)p. 2The reported 690 days counts the $8.76M statutory operating reserve: Carol Woods' own cash ($0.58M) + investments ($53.62M) + the reserve ($8.76M) = the $62.95M of 'unrestricted cash and investments' the statement cites (p42, p91). Cash and investments alone ($54.2M) on 2025 expenses less depreciation are about 593 days for Carol Woods alone (p91-93) and about 586 days consolidated (p61-62). | 15.82x (FY2025)p. 2Figures for Carolina Meadows, Inc. (provider only). The 433 days appears to count the $11.6M NC operating reserve and $5.4M board-designated for unit deposits (assets limited as to use, p72) as well as cash and unrestricted investments. Carolina Meadows, Inc.'s cash ($7.2M) and unrestricted investments ($32.4M) alone, on 2025 expenses less depreciation (p86, p88), are about 297 days. The negative net position reflects $196.2M of refundable advance fees carried as a liability. |
| Independent living occupancy | 95.6% (2025)p. 23 | 96.2% (2025)p. 23 |
| Net position | $42.0 million (FY2025)p. 61 | −$46.6 million (FY2025)p. 87 |
| Whose finances | The Chapel Hill Residential Retirement Center, Inc. (Carol Woods) and The Carol Woods Charitable Fund, Inc. (consolidated); ratios for Carol Woods (provider only, sole member of the obligated group)p. 61 | Carolina Meadows, Inc. (column of the consolidating balance sheet of Carolina Meadows Senior Communities & Services, Inc. and Affiliates); ratios for Carolina Meadows, Inc. (provider only)p. 87 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 61 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 87 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
Carol Woods
Type B (modified): Each resident accrues 15 Free Days a year, which accumulate without limit and cover the discounted daily charge. Beyond them, residents pay a daily rate that the projections describe as discounted roughly 60-70% from the non-resident rate, plus the monthly fee.p. 145
Carolina Meadows Retirement Community
Type C (fee for service): Assisted living, memory care and skilled nursing are available on campus and are paid for at the then-current rates; no included days or discount are described. A move to another level of care does not end the agreement or trigger an entrance fee refund.p. 25