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Carolina Bay at Autumn Hall and Porters Neck Village compared
Two communities in Wilmington, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Carolina Bay at Autumn Hall | Porters Neck Village |
|---|---|---|
| Location | Wilmington, NC | Wilmington, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type B (modified) |
| Entrance fee, one person | Not disclosed in the 2026 filing | $95,000 to $996,500p. 66 |
| Monthly fee, independent living | $6,396 to $10,658p. 61 | $3,667 to $8,085p. 66 |
| Refund plans | Not disclosed in the 2026 filing | 90 Percent Return of Capital; 75 Percent Return of Capital; 50 Percent Return of Capital; Traditional (declining, 0% after 50 months)p. 211p. 181p. 150p. 242 |
| Highest guaranteed refund | Not disclosed in the 2026 filing | 90% of the feep. 211p. 181p. 150p. 242 |
| When a refund is paid | Not disclosed in the 2026 filing | When your unit is re-occupied and the new resident has paidp. 211p. 181p. 150p. 242 |
| Days cash on hand | 24 days (FY2025)p. 2The operator has no long-term debt (DSCR shown as N/A) but leases the campus from an affiliated property company for about $715,706 a month (p68); $78.8M of its $80.6M liabilities are lease obligations (p40). Its $1.72M of cash was $5.18M short of the $6.90M statutory operating reserve; the statement says the deficit will be satisfied with a $6,904,250 irrevocable letter of credit payable to the Department of Insurance (p27). | 493 days (FY2025)p. 2The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses. |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | Not disclosed in the 2026 filingThe operator has no long-term debt (DSCR shown as N/A) but leases the campus from an affiliated property company for about $715,706 a month (p68); $78.8M of its $80.6M liabilities are lease obligations (p40). Its $1.72M of cash was $5.18M short of the $6.90M statutory operating reserve; the statement says the deficit will be satisfied with a $6,904,250 irrevocable letter of credit payable to the Department of Insurance (p27). | 1.82x (FY2025)p. 2The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses. |
| Independent living occupancy | 89.5% (2025)p. 15 | 95.4% (2025)p. 17 |
| Net position | $7.2 million (FY2025)p. 40 | $13.6 million (FY2025)p. 42 |
| Whose finances | 630 Carolina Bay OpCo LLC; ratios for 630 Carolina Bay OpCo LLC (provider only)p. 40 | Plantation Village, Inc. d/b/a Porters Neck Village and Subsidiary (consolidated); ratios for Plantation Village, Inc. (provider only)p. 42 |
| Audit opinion | Unmodified (clean) opinion, Cherry Bekaert LLPp. 40 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 42 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Carolina Bay at Autumn Hall
Type B (modified): Each calendar year a resident gets 10% off Healthcare Center fees for the first 30 days of care; unused discounted days do not carry over. Otherwise assisted living, memory care and nursing are charged at the published per diem rates, and the agreement keeps the resident responsible for the Monthly Service Fee as well (7.h). 26 adult care home beds and 12 nursing beds are reserved for residents, with priority for open beds when those are full.p. 84
Porters Neck Village
Type B (modified): Type B: each resident gets up to 30 days a year of temporary assisted living and up to 30 days a year of temporary nursing care at no daily charge (couples may pool them; unused days do not carry over), and permanent assisted living or nursing is billed at 75% of the rate the adjacent Davis Community charges non-residents. The community may change the 75% on 60 days' notice, and residents under 62 pay full rates.p. 145