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Givens Highland Farms and Grace Ridge Retirement Community compared
Two North Carolina communities about 39 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Givens Highland Farms | Grace Ridge Retirement Community |
|---|---|---|
| Location | Black Mountain, NC | Morganton, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service), Rental | Type A (life care), Type B (modified), Type C (fee for service) |
| Entrance fee, one person | $211,420 to $1,473,750p. 29 | $78,076 to $547,138p. 29p. 26 |
| Monthly fee, independent living | $3,826 to $5,512p. 27 | $1,566 to $6,218p. 29p. 26 |
| Refund plans | Declining Balance (0% Refundable); 50% Refundable; 90% Refundable; 75% Refundable (initial Cottages contracts); Range across refund plans (plan not specified)p. 32p. 29 | Amortizing (fully amortized after 25 months); 90% Refund (Lifecare or Standard)p. 16p. 31 |
| Highest guaranteed refund | 90% of the feep. 32p. 29 | 90% of the feep. 16p. 31 |
| When a refund is paid | When your unit is re-occupied or after 24 months, whichever is firstp. 32p. 29 | When your unit is re-occupied or after 24 months, whichever is firstp. 16p. 31 |
| Days cash on hand | 259 days (FY2025)p. 47Figures for Givens Highland Farms (provider only). The reported 259 days counts the $5.7M of investments restricted for the statutory operating reserve: Highland's balance-sheet cash ($11.85M), investments ($0.59M) and reserve investments ($5.70M) over FY2025 cash operating expenses come to about 259 days; cash and unrestricted investments alone ($12.44M) cover about 178 days. Section 29 instead cites $6.3M of unrestricted cash and investments (about 99 days of projected costs). DSCR 8.26x is lifted by initial entrance fees on new self-financed apartments (p49). The obligated group (Givens Estates, Highland Farms, Gerber Park II) reports 699 days and 3.43x (p48, p50). | 61 days (FY2025, calculated)p. 52The statement reports no ratios; we computed about 61 days from the audit: cash $375,361 plus marketable securities $1,450,073, over FY2025 cash operating expenses of $11.0M. The $5.66M statutory operating reserve is excluded; counting it would give about 248 days. The balance sheet shows no long-term debt, and operations used $2.0M of cash in FY2025 and $5.7M in FY2024 (p54). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 8.26x (FY2025)p. 47Figures for Givens Highland Farms (provider only). The reported 259 days counts the $5.7M of investments restricted for the statutory operating reserve: Highland's balance-sheet cash ($11.85M), investments ($0.59M) and reserve investments ($5.70M) over FY2025 cash operating expenses come to about 259 days; cash and unrestricted investments alone ($12.44M) cover about 178 days. Section 29 instead cites $6.3M of unrestricted cash and investments (about 99 days of projected costs). DSCR 8.26x is lifted by initial entrance fees on new self-financed apartments (p49). The obligated group (Givens Estates, Highland Farms, Gerber Park II) reports 699 days and 3.43x (p48, p50). | Not disclosed in the 2026 filingThe statement reports no ratios; we computed about 61 days from the audit: cash $375,361 plus marketable securities $1,450,073, over FY2025 cash operating expenses of $11.0M. The $5.66M statutory operating reserve is excluded; counting it would give about 248 days. The balance sheet shows no long-term debt, and operations used $2.0M of cash in FY2025 and $5.7M in FY2024 (p54). |
| Independent living occupancy | 97.93% (2025)p. 21 | Not disclosed in the 2026 filing |
| Net position | −$12.7 million (FY2025)p. 87 | $449,975 (FY2025)p. 52 |
| Whose finances | Givens Highland Farms, LLC (Highland column of The Givens Estates, Inc. consolidating balance sheet); ratios for Givens Highland Farms (provider only)p. 87 | Grace LifeCare, Inc.p. 52 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 87 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 52 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Givens Highland Farms
Type C (fee for service): Health care is fee-for-service at the published per diem rate, with no included days or discount; residents have priority access to the health care residences before non-residents, on a space-available basis.p. 163
Grace Ridge Retirement Community
Type A (life care): Care in the Health Care Center (adult care, nursing, special care) costs the same first-person monthly fee, plus two extra meals a day.p. 33
Type B (modified): Health Care Center care at a 30% discount on the full daily rate, with no included days.p. 33
Type C (fee for service): Health Care Center care at the full daily rate; lower entrance and monthly fees than Plans A and B.p. 33