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Southminster and The Cypress of Charlotte compared
Two North Carolina communities about 2 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Southminster | The Cypress of Charlotte |
|---|---|---|
| Location | Charlotte, NC | Charlotte, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Equity |
| Entrance fee, one person | $158,500 to $1,248,300p. 98 | Purchase + membership fee |
| Monthly fee, independent living | $4,488 to $8,120p. 98 | $3,826 to $6,873p. 30 |
| Refund plans | Standard; 50% Refundable; 90% Refundablep. 138 | Not disclosed in the 2026 filing |
| Highest guaranteed refund | 90% of the feep. 138 | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 138 | Not disclosed in the 2026 filing |
| Days cash on hand | 270 days (FY2025)p. 37The 270 days counts the $8,920,976 statutory operating reserve. On the audited balance sheet (p47), cash $1,579,946 + short-term investments $2,205,333 + long-term investments $17,630,282 = $21,415,561, about 190 days of cash operating expenses (p49); with the reserve, $30,336,537 ≈ 270 days. The statement's narrative gives unrestricted cash and investments as $30,264,627 (p32) and $30,624,627 (p33); neither matches the audited balance sheet. | 104 days (FY2025)p. 2Days cash counts $5.25M the Homeowners Association holds as a reserve for replacements and $2.71M internally designated for the NC operating reserve; cash and cash equivalents alone were $1,532,660 at 12/31/2025, about 17 days. |
| Its lenders' minimum | At least 180 daysp. 68 | Not disclosed in the 2026 filing |
| Debt service coverage | 1.78x (FY2025)p. 37The 270 days counts the $8,920,976 statutory operating reserve. On the audited balance sheet (p47), cash $1,579,946 + short-term investments $2,205,333 + long-term investments $17,630,282 = $21,415,561, about 190 days of cash operating expenses (p49); with the reserve, $30,336,537 ≈ 270 days. The statement's narrative gives unrestricted cash and investments as $30,264,627 (p32) and $30,624,627 (p33); neither matches the audited balance sheet. | 4.49x (FY2025)p. 2Days cash counts $5.25M the Homeowners Association holds as a reserve for replacements and $2.71M internally designated for the NC operating reserve; cash and cash equivalents alone were $1,532,660 at 12/31/2025, about 17 days. |
| Independent living occupancy | 97.1% (2025)p. 18 | 100% (2025)p. 26 |
| Net position | −$16.0 million (FY2025)p. 48 | $29.8 million (FY2025)p. 106 |
| Whose finances | Southminster, Inc. and Southminster Foundation, Inc. (combined); ratios for Southminster, Inc. (provider only; obligated group identical for actual years)p. 48 | The Cypress of Charlotte Club, Inc. and The Cypress of Charlotte Homeowners Association, Inc. (combined)p. 106 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 48 | Unmodified (clean) opinion, Forvis Mazars, LLPp. 106 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Southminster
Type B (modified): 14 Health Center Credit Days a year, which carry forward up to 44 days; while they are used the daily rate is waived and the independent living monthly fee continues. After that, care is billed at resident daily rates roughly 6-10% below what direct admissions pay. Southminster's Health Center is not Medicare or Medicaid certified.p. 19
The Cypress of Charlotte
Equity: Each Member gets 90 lifetime cumulative days of care in a semi-private room in the Health Care Facility at the current Monthly Payment plus meals and supplies. After that the Member pays the daily Member rate on top of the Monthly Payment until the home is resold, and the Member rate alone afterward; the disclosure calls it the 'member discounted rate' but states no discount size.p. 167