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Porters Neck Village and Trinity Landing compared
Two communities in Wilmington, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Porters Neck Village | Trinity Landing |
|---|---|---|
| Location | Wilmington, NC | Wilmington, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type C (fee for service) |
| Entrance fee, one person | $95,000 to $996,500p. 66 | $165,961 to $859,999p. 27 |
| Monthly fee, independent living | $3,667 to $8,085p. 66 | $3,656 to $6,377p. 24p. 25 |
| Refund plans | 90 Percent Return of Capital; 75 Percent Return of Capital; 50 Percent Return of Capital; Traditional (declining, 0% after 50 months)p. 211p. 181p. 150p. 242 | 90% Refund Plan; 50% Refund Plan; Limited Refund Planp. 166 |
| Highest guaranteed refund | 90% of the feep. 211p. 181p. 150p. 242 | 90% of the feep. 166 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 211p. 181p. 150p. 242 | When your unit is re-occupied and the new resident has paidp. 166 |
| Days cash on hand | 493 days (FY2025)p. 2The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses. | 248 days (FY2025)p. 2Figures for Trinity Landing campus consolidated (Trinity Landing + Trinity Grove + Lutheran Home Wilmington Property), per Section 35. Provider ratios cover the combined Wilmington campus (Trinity Landing, Trinity Grove nursing and the Wilmington property company), not the Trinity Landing balance sheet shown. The 248 days count $18.3M of cash and investments that includes the $3.3M statutory operating reserve; without the reserve the campus holds about $15.0M (≈203 days), and the Trinity Landing entity alone holds $12.6M of cash and investments. The LSA obligated group, jointly liable for the bonds, reported 408 days cash and 4.48x coverage for the same year (Table FS-2). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 1.82x (FY2025)p. 2The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses. | 2.10x (FY2025)p. 2Figures for Trinity Landing campus consolidated (Trinity Landing + Trinity Grove + Lutheran Home Wilmington Property), per Section 35. Provider ratios cover the combined Wilmington campus (Trinity Landing, Trinity Grove nursing and the Wilmington property company), not the Trinity Landing balance sheet shown. The 248 days count $18.3M of cash and investments that includes the $3.3M statutory operating reserve; without the reserve the campus holds about $15.0M (≈203 days), and the Trinity Landing entity alone holds $12.6M of cash and investments. The LSA obligated group, jointly liable for the bonds, reported 408 days cash and 4.48x coverage for the same year (Table FS-2). |
| Independent living occupancy | 95.4% (2025)p. 17 | 98% (2025)p. 21 |
| Net position | $13.6 million (FY2025)p. 42 | −$1.3 million (FY2025)p. 97 |
| Whose finances | Plantation Village, Inc. d/b/a Porters Neck Village and Subsidiary (consolidated); ratios for Plantation Village, Inc. (provider only)p. 42 | Lutheran Retirement Center - Wilmington, Inc. (Trinity Landing column of the LSA consolidating balance sheet); ratios for Trinity Landing campus consolidated (Trinity Landing + Trinity Grove + Lutheran Home Wilmington Property), per Section 35p. 97 |
| Audit opinion | Unmodified (clean) opinion, Forvis Mazars, LLPp. 42 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 97 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Porters Neck Village
Type B (modified): Type B: each resident gets up to 30 days a year of temporary assisted living and up to 30 days a year of temporary nursing care at no daily charge (couples may pool them; unused days do not carry over), and permanent assisted living or nursing is billed at 75% of the rate the adjacent Davis Community charges non-residents. The community may change the 75% on 60 days' notice, and residents under 62 pay full rates.p. 145
Trinity Landing
Type C (fee for service): Fee-for-service: skilled nursing and memory care are at Trinity Grove, an affiliated 100-bed nursing facility about two miles away, at its published daily rates with no included days or discount. Residents get priority admission if a bed is available and keep paying the monthly fee until their residence is vacated.p. 167