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Pennybyrn at Maryfield and Providence Place compared
Two North Carolina communities about 5 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Pennybyrn at Maryfield | Providence Place |
|---|---|---|
| Location | High Point, NC | High Point, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Rental |
| Entrance fee, one person | $150,000 to $477,667p. 25p. 26 | None: rental |
| Monthly fee, independent living | $3,314 to $6,899p. 23 | $1,024 to $3,019p. 25p. 26 |
| Refund plans | Plan A - Traditional Amortizing Entrance Fee (0% after 49 months)p. 104 | None: rental contract |
| Highest guaranteed refund | 0% of the feep. 104 | None: rental contract |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 104 | None: rental contract |
| Days cash on hand | 258 days (FY2025)p. 2The document's $20,208,700 of unrestricted cash and investments (p34) includes the $6,969,000 statutory operating reserve held as an asset limited as to use (p47). Cash and current investments alone ($13,239,700) ≈ 169 days on the document's own basis, ≈ 151 days on total expenses less depreciation and amortization (p49). | 101 days (FY2025)p. 2Figures for Providence Place, LLC (provider only). Margin caution: the 14.10% net operating margin is the NC statutory ratio (resident operating income / resident revenue, FS-1 p2, Appendix F p188); the audited combining statement of operations shows a GAAP operating loss of $667,794 on $23,305,183 of operating revenue for Providence Place (p88), about -2.9%. First year under EveryAge ownership; no prior-year ratios. The bond obligated group Providence Place belongs to (EveryAge, Abernethy Laurels, Piedmont Crossing, Lake Prince Woods, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p40, p43). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 1.77x (FY2025)p. 2The document's $20,208,700 of unrestricted cash and investments (p34) includes the $6,969,000 statutory operating reserve held as an asset limited as to use (p47). Cash and current investments alone ($13,239,700) ≈ 169 days on the document's own basis, ≈ 151 days on total expenses less depreciation and amortization (p49). | 1.28x (FY2025)p. 2Figures for Providence Place, LLC (provider only). Margin caution: the 14.10% net operating margin is the NC statutory ratio (resident operating income / resident revenue, FS-1 p2, Appendix F p188); the audited combining statement of operations shows a GAAP operating loss of $667,794 on $23,305,183 of operating revenue for Providence Place (p88), about -2.9%. First year under EveryAge ownership; no prior-year ratios. The bond obligated group Providence Place belongs to (EveryAge, Abernethy Laurels, Piedmont Crossing, Lake Prince Woods, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p40, p43). |
| Independent living occupancy | 98.6% (2025)p. 19 | 96.25% (2025)p. 22 |
| Net position | $32.5 million (FY2025)p. 47 | −$441,825 (FY2025)p. 86 |
| Whose finances | Maryfield, Inc.; ratios for Maryfield, Inc. (sole obligor)p. 47 | Providence Place, LLC (column of the EveryAge and Affiliates combining schedule); ratios for Providence Place, LLC (provider only)p. 86 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 47 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 86 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | 3 of 5 (CMS overall) |
What care costs later, in each contract
Pennybyrn at Maryfield
Type B (modified): Benefit: 15 grace days per year, at no additional charge, of services above what Medicare or other insurance covers while an independent living resident stays temporarily in assisted living, memory support or nursing. Unused grace days carry over to a cumulative maximum of 45 days, and the benefit lasts only while the resident remains an independent living resident; additional meals and services are extra. After a permanent move residents pay the published health care rates with no stated discount. Residents get priority over non-residents, but a bed is not guaranteed.p. 101
Providence Place
Rental: No care days or discounts are included: residents moving to assisted living, memory care or nursing pay the direct admission rates. Admission depends on bed availability; if no bed is free the community will help find placement elsewhere and gives priority application access at other EveryAge nursing facilities.p. 45