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Deerfield Episcopal Retirement Community and Pisgah Valley Retirement Community compared
Two North Carolina communities about 9 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 | Pisgah Valley Retirement Community |
|---|---|---|
| Location | Asheville, NC | Candler, 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 | $257,589 to $466,433p. 21 |
| Monthly fee, independent living | $3,917 to $6,664p. 19p. 20 | $2,426p. 20 |
| Refund plans | Standard Entrance Fee Option; 50% Refund Option; 90% Refund Optionp. 131p. 132 | 0% Refund Option; 90% Refund Optionp. 24 |
| Highest guaranteed refund | 90% of the feep. 131p. 132 | 90% of the feep. 24 |
| 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. 24 |
| 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). | 215 days (FY2025)p. 2Uses the audited balance sheet's $9,634,971 of cash ($8,419,070) and investments ($1,215,901), which Section 29.1 also states and which gives 215 days on 2025 cash expenses. Tables 29.1-29.2 print $10,472,319 instead (about 234 days). The balance sheet also carries $20,857,249 receivable from related parties and a $3,632,968 owners' note that was due and unpaid at year-end; neither is counted. |
| 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). | 2.13x (FY2025)p. 2Uses the audited balance sheet's $9,634,971 of cash ($8,419,070) and investments ($1,215,901), which Section 29.1 also states and which gives 215 days on 2025 cash expenses. Tables 29.1-29.2 print $10,472,319 instead (about 234 days). The balance sheet also carries $20,857,249 receivable from related parties and a $3,632,968 owners' note that was due and unpaid at year-end; neither is counted. |
| Independent living occupancy | 97% (2025)p. 17 | 97.8% (2025)p. 17 |
| Net position | $124.8 million (FY2025)p. 49 | $4.1 million (FY2025)p. 47 |
| Whose finances | Deerfield Episcopal Retirement Community, Inc. and Affiliate (Deerfield Charitable Foundation), consolidated; ratios for Deerfield Episcopal Retirement Community, Inc. (provider only)p. 49 | Pisgah Valley (Pisgah Valley Retirement Center, LLC and Pisgah Valley Retirement Center Properties, LLC, combined); ratios for Pisgah Valley Retirement Center, LLC and Pisgah Valley Retirement Center Properties, LLC (provider only)p. 47 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 49 | Unmodified (clean) opinion, Cherry Bekaert LLPp. 47 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 2 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
Pisgah Valley Retirement Community
Type C (fee for service): Residents pay the then-current Health Care Residence rate for assisted living or nursing, on top of their apartment fee while temporarily transferred; the 24 assisted living units and 118 nursing beds are open to the public but residents get priority. If no bed is free on a permanent transfer, Pisgah Valley arranges care elsewhere and pays any cost above its own rate.p. 100