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Friends Homes Guilford and WhiteStone: A Masonic and Eastern Star Community compared
Two North Carolina communities about 3 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Friends Homes Guilford | WhiteStone: A Masonic and Eastern Star Community |
|---|---|---|
| Location | Greensboro, NC | Greensboro, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service) | Type B (modified) |
| Entrance fee, one person | $30,000 to $416,000p. 28 | $30,900 to $510,803p. 22 |
| Monthly fee, independent living | $2,119 to $4,841p. 26p. 25 | $3,788 to $5,843p. 21 |
| Refund plans | Standard; Woolman/Fox (Nonrefundable)p. 94p. 95 | Range across refund plans (plan not specified); Traditional (0% after 50 months); 50% Return-of-Capital; 90% Return-of-Capitalp. 22p. 154p. 104p. 129 |
| Highest guaranteed refund | 0% of the feep. 94p. 95 | 90% of the feep. 22p. 154p. 104p. 129 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 94p. 95 | When your unit is re-occupied or after 24 months, whichever is firstp. 22p. 154p. 104p. 129 |
| Days cash on hand | 741 days (FY2025)p. 2Figures for Friends Homes, Inc., provider only (sole member of its own obligated group) — Friends Homes Guilford and Friends Homes West combined. Ratios cover Friends Homes Guilford and Friends Homes West together. The 741 days counts the $12.9M held as the statutory operating reserve (Table 29.2 gives unrestricted cash and investments of $83.7M). Cash and investments alone ($70.7M) cover about 627 days of FY2025 cash operating expenses. | 302 days (FY2025)p. 2The reported 302 days only holds by counting reserves: cash ($4.3M) and investments ($11.8M) on the audited balance sheet are about 208 days of 2025 cash operating expenses (p44, p45); adding the $6.1M NC DOI operating reserve and $0.9M board-designated for entrance fee refunds (p55) gives about 297 days. The statement's own unrestricted cash figure is given as both $18,964,908 (p31) and $18,375,352 (p32). The 18.1% statutory net operating margin sits beside an audited 2025 operating loss of $2,564,421 under GAAP (p45). |
| Its lenders' minimum | At least 120 daysp. 20 | Not disclosed in the 2026 filing |
| Debt service coverage | 2.50x (FY2025)p. 2Figures for Friends Homes, Inc., provider only (sole member of its own obligated group) — Friends Homes Guilford and Friends Homes West combined. Ratios cover Friends Homes Guilford and Friends Homes West together. The 741 days counts the $12.9M held as the statutory operating reserve (Table 29.2 gives unrestricted cash and investments of $83.7M). Cash and investments alone ($70.7M) cover about 627 days of FY2025 cash operating expenses. | 1.40x (FY2025)p. 2The reported 302 days only holds by counting reserves: cash ($4.3M) and investments ($11.8M) on the audited balance sheet are about 208 days of 2025 cash operating expenses (p44, p45); adding the $6.1M NC DOI operating reserve and $0.9M board-designated for entrance fee refunds (p55) gives about 297 days. The statement's own unrestricted cash figure is given as both $18,964,908 (p31) and $18,375,352 (p32). The 18.1% statutory net operating margin sits beside an audited 2025 operating loss of $2,564,421 under GAAP (p45). |
| Independent living occupancy | 99% (2025)p. 22 | 96.2% (2025)p. 17 |
| Net position | $63.6 million (FY2025)p. 51 | $10.9 million (FY2025)p. 44 |
| Whose finances | Friends Homes, Inc. — Friends Homes Guilford and Friends Homes West campuses combined (one audited balance sheet); ratios for Friends Homes, Inc., provider only (sole member of its own obligated group) — Friends Homes Guilford and Friends Homes West combinedp. 51 | The Masonic and Eastern Star Home of North Carolina, Incorporated (WhiteStone); ratios for The Masonic and Eastern Star Home of North Carolina, Incorporated (provider only; no obligated group)p. 44 |
| Audit opinion | Unmodified (clean) opinion, Turlington and Company, L.L.P.p. 51 | Unmodified (clean) opinion, Baker Tilly US, LLPp. 44 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 4 of 5 (CMS overall) |
What care costs later, in each contract
Friends Homes Guilford
Type C (fee for service): A resident moving to assisted living or nursing pays the community's published per diem rate plus ancillary charges, and keeps paying the independent living monthly charge unless and until the unit is surrendered (it must be surrendered on request after 90 days). No days of care are included and no discount is stated.p. 89
WhiteStone: A Masonic and Eastern Star Community
Type B (modified): Each resident gets 30 days a year of care in the Community Health Center without the per diem charge, while still living in the residence; days are per person, do not carry over and cannot be combined. Beyond those days, and after a permanent move (when the residence is surrendered and the monthly fee stops), the resident pays the Health Center's published rates. Residents get priority over non-residents for admission.p. 97