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How to read a CCRC disclosure statement

Updated 2026-10-15

Fees are usually in an exhibit near the end, binding refund terms in the residency agreement appendix, and the finances in the audited statements.

A disclosure statement is the document a community must give prospective residents and file with its state. The 114 on this site run from 75 to 374 pages, but the parts that decide a family’s money are in predictable places.

Where the answers usually are

  1. The cover and first pages: the filing date and the fiscal year its finances cover. A statement filed in 2024 often describes 2023.
  2. The provider section: who owns and runs the community, any parent organisation or manager, and religious or other affiliation.
  3. Contracts and services: the contract types offered, what the monthly fee includes, and how care is priced later.
  4. Fee schedules, often an exhibit near the end: entrance and monthly fees per unit and plan, with second-person fees in a separate column.
  5. Fee history: several years of monthly fee increases, as percentages or dollars.
  6. The residency agreement, usually an appendix: the binding refund terms, including when a refund is paid.
  7. Audited financial statements: the auditor’s opinion, balance sheet and notes, where entrance-fee liabilities and debt covenants are explained.
  8. Financial summary: some states require a page of key ratios and occupancy.

Three traps

  • Page numbers. The number printed on a page rarely matches the PDF page. Every source tab on this site uses the PDF page, the one your viewer shows.
  • Projections. Many statements include forecasts (pro forma statements). They are the community’s hopes, not results; we use none of them.
  • Scanned pages. Tables are often pictures of paper, so searching the PDF finds nothing. Scroll the exhibits instead.

By state

North Carolina

Each licensed community files an annual disclosure statement, which the department posts by year. It includes entrance and monthly fee tables, refund terms, a five-year history of fee changes, occupancy, five-year projections and audited financial statements. Statements filed under the department's 2026 handbook open with a standard financial snapshot table of statutory ratios (days cash on hand, debt service coverage and others). Fee tables and refund schedules follow; the audit is usually Appendix A.

North Carolina Department of Insurance: disclosure statements · The North Carolina communities on this site

Virginia

Each provider files an annual disclosure statement with the Bureau of Insurance: who runs the community, admission terms, services, fees, refund provisions, the contracts themselves and audited financial statements. The Bureau posts the statements as PDFs on one list page. Fee schedules and fee history are usually exhibits near the end; many Virginia statements close with a one-page summary of financial information that gives occupancy and, where the community has bonds, days cash on hand and debt service coverage.

Virginia State Corporation Commission, Bureau of Insurance: disclosure statements · The Virginia communities on this site

Sources