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Southminster and The Sharon at SouthPark compared
Two North Carolina communities about 3 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 Sharon at SouthPark |
|---|---|---|
| Location | Charlotte, NC | Charlotte, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Type B (modified) |
| Entrance fee, one person | $158,500 to $1,248,300p. 98 | $26,500 to $907,300p. 100 |
| Monthly fee, independent living | $4,488 to $8,120p. 98 | $3,517 to $6,908p. 25 |
| Refund plans | Standard; 50% Refundable; 90% Refundablep. 138 | Standard Entry Fee (declining to 0% after 365 days); 50% Refundable Entry Fee; 90% Refundable Entry Feep. 162 |
| Highest guaranteed refund | 90% of the feep. 138 | 90% of the feep. 162 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 138 | In turn, from a fund of new residents' entrance feesp. 162 |
| 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. | 496 days (FY2025)p. 2 |
| Its lenders' minimum | At least 180 daysp. 68 | At least 150 daysp. 43 |
| 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. | 2.70x (FY2025)p. 2 |
| Independent living occupancy | 97.1% (2025)p. 18 | 96.9% (2025)p. 21 |
| Net position | −$16.0 million (FY2025)p. 48 | $80.9 million (FY2025)p. 55 |
| Whose finances | Southminster, Inc. and Southminster Foundation, Inc. (combined); ratios for Southminster, Inc. (provider only; obligated group identical for actual years)p. 48 | The Presbyterian Home at Charlotte, Inc. d/b/a The Sharon at SouthPark and The Sharon Foundation (consolidated); ratios for The Presbyterian Home at Charlotte, Inc. d/b/a The Sharon at SouthPark (provider; sole member of the obligated group)p. 55 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 48 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 55 |
| Nursing care, CMS rating | No CMS record linked | 4 of 5 (CMS overall) |
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 Sharon at SouthPark
Type B (modified): No free days are included. Residents who move permanently to nursing pay a published permanent transfer rate that the statement says is historically discounted from the direct-admission rate ($10,835-$12,070 vs $15,087-$16,184 a month in 2026); temporary stays are $274 a day on top of the monthly fee for the first 90 days. Existing residents have priority for the Medicare-certified beds.p. 107