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Deerfield Episcopal Retirement Community and Givens Estates compared
Two North Carolina communities about 0 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Deerfield Episcopal Retirement Community | Givens Estates |
|---|---|---|
| Location | Asheville, NC | Asheville, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care) | Type C (fee for service) |
| Entrance fee, one person | $325,485 to $989,573p. 21p. 22 | $151,809 to $1,508,902p. 30p. 31 |
| Monthly fee, independent living | $3,917 to $6,664p. 19p. 20 | $2,859 to $5,765p. 29 |
| Refund plans | Standard Entrance Fee Option; 50% Refund Option; 90% Refund Optionp. 131p. 132 | Declining Balance (0% Refundable); 50% Refundable; 90% Refundable; Range across refund plans (plan not specified)p. 173p. 30 |
| Highest guaranteed refund | 90% of the feep. 131p. 132 | 90% of the feep. 173p. 30 |
| When a refund is paid | Within a fixed number of days; When your unit is re-occupied or after 12 months, whichever is firstp. 131p. 132 | When your unit is re-occupied or after 24 months, whichever is firstp. 173p. 30 |
| Days cash on hand | 1276 days (FY2025)p. 2The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation). | 985 days (FY2025)p. 2Debt service coverage fell to 0.53x in 2025, which the statement attributes to cash transfers made to acquire Givens Aldersgate (it was 4.4x in 2024). The 985 days does not match Section 29, which gives $63.0M of unrestricted cash and investments (about 555 days). On the Estates balance sheet it reconciles only by counting $9.6M of Special Use Funds investments (the column holding donor-restricted net assets) and $4.1M of assets limited as to use alongside cash and operating-fund investments ($111.9M, about 985 days). Cash ($10.0M) and operating-fund investments ($88.2M) alone, $98.2M, cover about 865 days of 2025 cash operating expenses ($47.76M less $6.29M depreciation). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 7.41x (FY2025)p. 2The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation). | 0.53x (FY2025)p. 2Debt service coverage fell to 0.53x in 2025, which the statement attributes to cash transfers made to acquire Givens Aldersgate (it was 4.4x in 2024). The 985 days does not match Section 29, which gives $63.0M of unrestricted cash and investments (about 555 days). On the Estates balance sheet it reconciles only by counting $9.6M of Special Use Funds investments (the column holding donor-restricted net assets) and $4.1M of assets limited as to use alongside cash and operating-fund investments ($111.9M, about 985 days). Cash ($10.0M) and operating-fund investments ($88.2M) alone, $98.2M, cover about 865 days of 2025 cash operating expenses ($47.76M less $6.29M depreciation). |
| Independent living occupancy | 97% (2025)p. 17 | 97.64% (2025)p. 23 |
| Net position | $124.8 million (FY2025)p. 49 | $133.3 million (FY2025)p. 89 |
| Whose finances | Deerfield Episcopal Retirement Community, Inc. and Affiliate (Deerfield Charitable Foundation), consolidated; ratios for Deerfield Episcopal Retirement Community, Inc. (provider only)p. 49 | Givens Estates, Inc. (Estates columns of the audited consolidating balance sheet); ratios for Givens Estates, Inc. (provider only)p. 89 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 49 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 89 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Deerfield Episcopal Retirement Community
Type A (life care): On moving to assisted living or skilled nursing, a resident continues to pay the monthly fee for the residence they occupied at the time of transfer, plus two extra meals a day and ancillary services such as medications and therapy. Upgraded care accommodations cost the difference between direct-admission rates.p. 126
Givens Estates
Type C (fee for service): Assisted living and nursing are fee-for-service: a resident who moves permanently gives up the residence and pays the published per diem rate instead of the monthly fee, plus ancillaries and any Level of Care Fee; a temporary stay adds the per diem to the monthly fee. Per diem health center fees are also deducted from any entrance fee refund.p. 165