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Providence Place and Piedmont Crossing compared
Two North Carolina communities about 8 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Providence Place | Piedmont Crossing |
|---|---|---|
| Location | High Point, NC | Thomasville, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Rental | Type B (modified) |
| Entrance fee, one person | None: rental | $61,500 to $568,500p. 28p. 29 |
| Monthly fee, independent living | $1,024 to $3,019p. 25p. 26 | $1,993 to $4,196p. 27p. 26 |
| Refund plans | None: rental contract | Fully Declining (0% Refundable); 50% Refundablep. 157p. 49 |
| Highest guaranteed refund | None: rental contract | 50% of the feep. 157p. 49 |
| When a refund is paid | None: rental contract | When your unit is re-occupied and the new resident has paidp. 157p. 49 |
| Days cash on hand | 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). | 566 days (FY2025)p. 2Figures for EveryAge, provider only — one set of ratios covering Piedmont Crossing and Abernethy Laurels together (shared with the Abernethy Laurels filing). Provider-level ratios for EveryAge, which runs both Piedmont Crossing and Abernethy Laurels, so these figures are shared with Abernethy Laurels and are not for this campus alone. The bond obligated group (adding Lake Prince Woods, Providence Place, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p44, p47). |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 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). | 5.26x (FY2025)p. 2Figures for EveryAge, provider only — one set of ratios covering Piedmont Crossing and Abernethy Laurels together (shared with the Abernethy Laurels filing). Provider-level ratios for EveryAge, which runs both Piedmont Crossing and Abernethy Laurels, so these figures are shared with Abernethy Laurels and are not for this campus alone. The bond obligated group (adding Lake Prince Woods, Providence Place, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p44, p47). |
| Independent living occupancy | 96.25% (2025)p. 22 | 89.94% (2025)p. 23 |
| Net position | −$441,825 (FY2025)p. 86 | $69.6 million (FY2025)p. 57 |
| Whose finances | Providence Place, LLC (column of the EveryAge and Affiliates combining schedule); ratios for Providence Place, LLC (provider only)p. 86 | EveryAge and Affiliates (combined; includes Abernethy Laurels and the obligated-group affiliates); ratios for EveryAge, provider only — one set of ratios covering Piedmont Crossing and Abernethy Laurels together (shared with the Abernethy Laurels filing)p. 57 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 86 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 57 |
| Nursing care, CMS rating | 3 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
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
Piedmont Crossing
Type B (modified): Assisted living and nursing are paid at the community's current per diem rates, with a $10-a-day nursing discount for contract holders and 12 non-cumulative nurse visits a year in the monthly fee. 24 of the 104 nursing beds are reserved for contracted residents; if no bed is free, residents get priority application at other EveryAge nursing facilities.p. 27