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Carolina Meadows Retirement Community and The Cedars of Chapel Hill 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 | Carolina Meadows Retirement Community | The Cedars of Chapel Hill |
|---|---|---|
| Location | Chapel Hill, NC | Chapel Hill, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service) | Equity |
| Entrance fee, one person | $154,700 to $925,100p. 103 | Purchase + membership fee |
| Monthly fee, independent living | $3,687 to $4,849p. 103 | $5,255 to $6,940p. 20 |
| Refund plans | 75% Refund; Equity Advantage Refundp. 32p. 193 | Not disclosed in the 2026 filing |
| Highest guaranteed refund | 75% of the feep. 32p. 193 | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied or after 24 months, whichever is firstp. 32p. 193 | Not disclosed in the 2026 filing |
| Days cash on hand | 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. | 88.1 days (FY2025)p. 2Days cash counts restricted cash held as the NC statutory operating reserve (FS-1 note 1, p2). Unrestricted cash alone was $445,499 at 12/31/2025, about 9 days of 2025 expenses. Section 29.1 (p26) states 81 days at year-end, which FS-1 shows for FY2024. |
| Its lenders' minimum | At least 150 daysp. 77 | Not disclosed in the 2026 filing |
| Debt service coverage | 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. | Not disclosed in the 2026 filingDays cash counts restricted cash held as the NC statutory operating reserve (FS-1 note 1, p2). Unrestricted cash alone was $445,499 at 12/31/2025, about 9 days of 2025 expenses. Section 29.1 (p26) states 81 days at year-end, which FS-1 shows for FY2024. |
| Independent living occupancy | 96.2% (2025)p. 23 | 100% (2025)p. 16 |
| Net position | −$46.6 million (FY2025)p. 87 | $6.7 million (FY2025)p. 38 |
| Whose finances | 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 | The Cedars of Chapel Hill Club, Inc.p. 38 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 87 | Unmodified (clean) opinion, Hawley, C.P.A., P.A.p. 38 |
| Nursing care, CMS rating | No CMS record linked | 4 of 5 (CMS overall) |
What care costs later, in each contract
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
The Cedars of Chapel Hill
Equity: Each Member gets 90 cumulative lifetime days of assisted living or nursing in DuBose Health Center without extra charge beyond the Monthly Payment, meals and supplies. After that the Member pays the Member rate in addition to the Monthly Payment, and keeps Member rates even if the home is sold; if DuBose has no bed, the Club pays any increased charge at another facility.p. 120