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Covenant Village and Stanley Total Living Center compared
Two North Carolina communities about 8 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Covenant Village | Stanley Total Living Center |
|---|---|---|
| Location | Gastonia, NC | Stanley, 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 | $65,625 to $602,000p. 19 | $36,000 to $42,000p. 22 |
| Monthly fee, independent living | $3,865 to $5,823p. 17p. 18 | $3,531 to $4,267p. 21 |
| Refund plans | Traditional Amortizing (0% after 25 months)p. 218 | Entrance Deposit ($4,800 refundable portion)p. 81 |
| Highest guaranteed refund | 0% of the feep. 218 | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 218 | Within a fixed number of daysp. 81 |
| Days cash on hand | 233 days (FY2025)p. 2The audited balance sheet (Sept. 30, 2025) shows cash $0.55M, investments $6.30M and $3.91M of investments restricted for the statutory operating reserve, $10.75M in all; the 233 days appears to count that reserve. Cash and other investments alone ($6.84M) cover about 159 days of FY2025 cash operating expenses. The disclosure narrative gives two other 'unrestricted cash and investments' figures: $10,497,180 (Section 29.1) and $17,270,000 (Tables 29.1-29.2, which repeats the net projected operating costs line). | 152 days (FY2025)p. 2 |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 3.92x (FY2025)p. 2The audited balance sheet (Sept. 30, 2025) shows cash $0.55M, investments $6.30M and $3.91M of investments restricted for the statutory operating reserve, $10.75M in all; the 233 days appears to count that reserve. Cash and other investments alone ($6.84M) cover about 159 days of FY2025 cash operating expenses. The disclosure narrative gives two other 'unrestricted cash and investments' figures: $10,497,180 (Section 29.1) and $17,270,000 (Tables 29.1-29.2, which repeats the net projected operating costs line). | Not disclosed in the 2026 filing |
| Independent living occupancy | 97.4% (2025)p. 14 | 94% (2025)p. 18 |
| Net position | $8.3 million (FY2025)p. 44 | $26.9 million (FY2025)p. 47 |
| Whose finances | Covenant Village, Inc.; ratios for Covenant Village, Inc. (provider only)p. 44 | Stanley Total Living Center, Inc.; ratios for Stanley Total Living Center, Inc. (provider only)p. 47 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 44 | Unmodified (clean) opinion, Gatewood, Bagley & Huffman, CPAs, PCp. 47 |
| Nursing care, CMS rating | No CMS record linked | 4 of 5 (CMS overall) |
What care costs later, in each contract
Covenant Village
Type B (modified): Life Care residents pay half the published direct-admission daily rate for assisted living or nursing in the ARISE Health Center, for temporary or permanent stays, plus ancillary charges: $186 a day against the $372 direct-admit rate. Residents get priority access to Health Center beds, though access is not guaranteed.p. 212
Stanley Total Living Center
Type C (fee for service): Fee-for-service: apartment residents who move to assisted living or nursing pay the Health Center's published daily rates; no days are included and no discount is stated. Residents get priority for a bed when one is available and their insurance is one the facility contracts with.p. 86