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Springmoor Life Care Retirement Community and The Cypress of Raleigh 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 | Springmoor Life Care Retirement Community | The Cypress of Raleigh |
|---|---|---|
| Location | Raleigh, NC | Raleigh, NC |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified) | Equity |
| Entrance fee, one person | $144,500 to $622,800p. 18p. 19 | Purchase + membership fee |
| Monthly fee, independent living | $3,811 to $6,703p. 17p. 18 | $3,828 to $6,560p. 38p. 39 |
| Refund plans | Life Occupancy; 50% Refund Entry Fee; 100% Refund Entry Feep. 100p. 102 | Not disclosed in the 2026 filing |
| Highest guaranteed refund | 100% of the feep. 100p. 102 | Not disclosed in the 2026 filing |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 100p. 102 | Not disclosed in the 2026 filing |
| Days cash on hand | 80 days (FY2025)p. 2The 80 days counts $2.28M of certificates of deposit held toward the statutory operating reserve; cash alone ($7.81M) is about 62 days. Springmoor leases its campus from Ammons family entities, and its largest assets ($35.3M) are notes receivable from those landlords, which are not counted in days cash. | 182.08 days (FY2025)p. 2Debt service coverage is left blank: FS-1 prints 187.08x for FY2025, but the only debt is vehicle leases (FS-1 footnote, p2), so the ratio says nothing about the community's ability to carry debt. Days cash includes the reserves held under state statute ($6.4M) and the asset replacement reserve ($8.4M); unrestricted cash and cash equivalents alone were $905,060 at year-end, about 11 days. |
| Its lenders' minimum | Not disclosed in the 2026 filing | Not disclosed in the 2026 filing |
| Debt service coverage | 3.09x (FY2025)p. 2The 80 days counts $2.28M of certificates of deposit held toward the statutory operating reserve; cash alone ($7.81M) is about 62 days. Springmoor leases its campus from Ammons family entities, and its largest assets ($35.3M) are notes receivable from those landlords, which are not counted in days cash. | Not disclosed in the 2026 filingDebt service coverage is left blank: FS-1 prints 187.08x for FY2025, but the only debt is vehicle leases (FS-1 footnote, p2), so the ratio says nothing about the community's ability to carry debt. Days cash includes the reserves held under state statute ($6.4M) and the asset replacement reserve ($8.4M); unrestricted cash and cash equivalents alone were $905,060 at year-end, about 11 days. |
| Independent living occupancy | 98% (2025)p. 14 | 100% (2025)p. 21 |
| Net position | −$25.2 million (FY2025)p. 46 | $31.8 million (FY2025)p. 104 |
| Whose finances | Springmoor, Inc.; ratios for Springmoor, Inc. (provider only; not part of an obligated group)p. 46 | The Cypress of Raleigh Club, Inc. and The Cypress of Raleigh Owners' Association, Inc. (combined)p. 104 |
| Audit opinion | Unmodified (clean) opinion, James A. Lucas and Company, L.L.P.p. 46 | Unmodified (clean) opinion, Dreher Martin CPAs, P.A.p. 104 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Springmoor Life Care Retirement Community
Type B (modified): 30 days of Health Center care included each year (bankable to 90). Short-term stays after that are at 30% of the daily rate; permanent stays are at the full daily rate under the contract, though the disclosure narrative says 60% (see notes).p. 104
The Cypress of Raleigh
Equity: For Membership Agreements signed on or after January 1, 2025, the included care was cut from 90 to 45 lifetime cumulative days in The Rosewood at the regular Monthly Payment; agreements signed before that date keep 90 days. During those days Members pay only extra meals and any room upgrade; after them they pay daily Member rates (2026: $220 private assisted living, $280 semi-private nursing) on top of the Monthly Payment, versus $365 and $450 for non-members. If The Rosewood is full the Club pays any extra cost of care elsewhere.p. 28