Home › North Carolina
Continuing care retirement communities in North Carolina
70 communities · filings from 2025 to 2026 · 38 offer Type B (modified), 11 offer Rental, 21 offer Type C (fee for service), 10 offer Type A (life care), 5 offer Equity
What North Carolina requires
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.
Regulator: North Carolina Department of Insurance (N.C. Gen. Stat. ch. 58, art. 64A). The state’s list of disclosure statements
Every North Carolina community we have read
| Community | Entrance fee, one person | Monthly fee, independent living | Days cash on hand | Filing |
|---|---|---|---|---|
| Abernethy LaurelsNewton | $40,500 to $543,000p. 28 | $1,949 to $5,094p. 26 | 566 days (FY2025)p. 2Figures for EveryAge (provider only; includes Piedmont Crossing). Provider-level ratios for EveryAge. The bond obligated group (which adds Lake Prince Woods, Providence Place, BellaAge Hickory and others) reported 342 days cash on hand and 2.72x debt service coverage for FY2025 (p44, p46). Provider-level days cash rests on $78,345,214 of unrestricted cash and investments held by EveryAge (Table 29.1-29.2, p39-40). | 2026 |
| Arbor AcresWinston-Salem | $54,000 to $689,000p. 22p. 23 | $2,273 to $6,605p. 20p. 21 | 596 days (FY2025)p. 2Unrestricted cash and investments of $47.6M (p32, p45) include $10.2M held by the Home Care and Strategic Development subsidiaries for their own purposes. On that $47.6M and 2025 expenses less depreciation (p47) days cash is about 413; the reported 596 matches only if the board-designated endowments ($10.1M) and the $10.8M operating reserve on the balance sheet are also counted. The obligated group alone (Arbor Acres without those subsidiaries) reported 545 days and 2.88x for 2025 (p36, p39). | 2026 |
| ArdenwoodsArden | $271,000 to $484,000p. 22 | $3,310 to $4,180p. 22 | 475.24 days (FY2025)p. 5Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore, not Ardenwoods alone. The operating ratio was 116.3% and the net operating margin -15.4% in FY2025 (p5). The operating reserve shown is ThriveMore's; the statement gives Ardenwoods' operating reserve at 9/30/2025 as $1,751,435 (p27). | 2026 |
| Belle MeadeSouthern Pines | Not disclosed in the 2026 filing | $3,237 to $6,477p. 18 | 103 days (FY2025, calculated)p. 29Figures for St. Joseph of the Pines, Inc. Computed by us: cash $41,574 + investments $8,655,577 + board-designated $249,830 over FY2025 expenses less depreciation and amortization ($31,727,285/365). Excludes the $3.6M statutory operating reserve, donor-designated funds and $8.8M of other receivables (largely funds held at parent Trinity Health); counting the receivables would give about 205 days. | 2026 |
| Brice PointeNew Bern | $342,915 to $1,173,901p. 19 | $3,250 to $9,490p. 18 | 475 days (FY2025)p. 30Figures for ThriveMore (consolidated). These are ThriveMore system-wide figures; Brice Pointe has no operations or finances of its own yet. Cash and investments on the audited balance sheet ($1.87M cash + $56.19M investments) over 2025 cash expenses give about 489 days, slightly above the 475 reported. | 2026 |
| Brookdale Carriage Club ProvidenceCharlotte | None: rental | $4,285 to $7,530p. 22p. 23 | 429 days (FY2025)p. 2Counts $24.2M of cash (p30): $12.5M cash plus $11.7M the balance sheet shows as restricted cash (the DOI operating reserve and lender reserves, p48). Cash alone would cover about 221 days of the same expenses. The provider keeps no operating cash of its own; operations are funded through the parent, which took $5.4M in net member distributions in 2025 (p46, p48). | 2026 |
| Brookridge Retirement CommunityWinston-Salem | $54,700 to $475,000p. 20 | $1,750 to $5,220p. 20 | 475.24 days (FY2025)p. 4Figures for ThriveMore (consolidated). Ratios are for all of ThriveMore (Brookridge, The Gardens of Taylor Glen, Ardenwoods, The Taylor House and ThriveMore at Home), not Brookridge alone. ThriveMore had an $8.8M operating loss in FY2025 (p34); its operating ratio was 116.3% and net operating margin -15.4% (p4). | 2026 |
| Brooks-Howell HomeAsheville | Not disclosed in the 2026 filing | $1,773 to $4,135p. 15 | 112 days (FY2025, calculated)p. 76Computed by us: Brooks-Howell's cash $966,086 + investments $605,698 over 2025 expenses less depreciation ($5,110,905/365). The legally responsible entity, United Women in Faith, held $115.9M of cash and investments ($2.8M cash, $113.2M investments), of which it counts $17.8M as available after excluding donor-restricted and retirement funds; it holds the $2.694M statutory reserve (p21, p69). Operating margin not shown: the audit's $440,139 operating income (7.7% of revenue) includes $896,097 of Medicare-wing construction costs UWFaith paid and donated to Brooks-Howell as a one-time non-cash contribution (p77, p88); without it Brooks-Howell ran an operating deficit of about $456,000 (about -9.4%). | 2026 |
| Carmel HillsCharlotte | $12,005 to $279,035p. 15 | $1,810 to $4,840p. 13 | 199 days (FY2026)p. 2Coverage swings widely (1.33x to 6.85x) because Carmel Hills is paying off small individually held bonds as they mature; debt service is about $56,000 a year (p26, p31). | 2026 |
| Carol WoodsChapel Hill | $116,600 to $671,700p. 196 | $2,905 to $6,858p. 189p. 188 | 690 days (FY2025)p. 2The reported 690 days counts the $8.76M statutory operating reserve: Carol Woods' own cash ($0.58M) + investments ($53.62M) + the reserve ($8.76M) = the $62.95M of 'unrestricted cash and investments' the statement cites (p42, p91). Cash and investments alone ($54.2M) on 2025 expenses less depreciation are about 593 days for Carol Woods alone (p91-93) and about 586 days consolidated (p61-62). | 2026 |
| Carolina Bay at Autumn HallWilmington | Not disclosed in the 2026 filing | $6,396 to $10,658p. 61 | 24 days (FY2025)p. 2The operator has no long-term debt (DSCR shown as N/A) but leases the campus from an affiliated property company for about $715,706 a month (p68); $78.8M of its $80.6M liabilities are lease obligations (p40). Its $1.72M of cash was $5.18M short of the $6.90M statutory operating reserve; the statement says the deficit will be satisfied with a $6,904,250 irrevocable letter of credit payable to the Department of Insurance (p27). | 2026 |
| Carolina Meadows Retirement CommunityChapel Hill | $154,700 to $925,100p. 103 | $3,687 to $4,849p. 103 | 433 days (FY2025)p. 2Figures for Carolina Meadows, Inc. (provider only). The 433 days appears to count the $11.6M NC operating reserve and $5.4M board-designated for unit deposits (assets limited as to use, p72) as well as cash and unrestricted investments. Carolina Meadows, Inc.'s cash ($7.2M) and unrestricted investments ($32.4M) alone, on 2025 expenses less depreciation (p86, p88), are about 297 days. The negative net position reflects $196.2M of refundable advance fees carried as a liability. | 2026 |
| Carolina VillageHendersonville | $241,900 to $677,400p. 23p. 24 | $2,783 to $6,273p. 21p. 22 | 241 days (FY2026)p. 2The 241 days counts the $8.4M of investments restricted for the statutory operating reserve (Section 29 gives unrestricted cash and investments of $21.7M). Cash and marketable securities alone ($13.3M) cover about 148 days of 2026 cash operating expenses. | 2026 |
| Covenant VillageGastonia | $65,625 to $602,000p. 19 | $3,865 to $5,823p. 17p. 18 | 233 days (FY2025)p. 2The audited balance sheet (Sept. 30, 2025) shows cash $0.55M, investments $6.30M and $3.91M of investments restricted for the statutory operating reserve, $10.75M in all; the 233 days appears to count that reserve. Cash and other investments alone ($6.84M) cover about 159 days of FY2025 cash operating expenses. The disclosure narrative gives two other 'unrestricted cash and investments' figures: $10,497,180 (Section 29.1) and $17,270,000 (Tables 29.1-29.2, which repeats the net projected operating costs line). | 2026 |
| Croasdaile Village Retirement CommunityDurham | $70,619 to $586,998p. 34p. 58 | $2,606 to $6,103p. 30p. 58 | 700.69 days (FY2025)p. 2Figures for UMRH Obligated Group (UMRH and The United Methodist Retirement Homes Foundation, Inc.); the same group ratios are reported in the Cypress Glen and Croasdaile Village statements. Group figure for UMRH, which also owns Cypress Glen and Wesley Pines; it is not a Croasdaile-only ratio. Consolidated cash and investments ($132.7M, p72) cover about 598 days of consolidated FY2025 cash operating expenses; the reported 700.69 days could not be reproduced from the statements and may count assets limited as to use such as the $20.1M statutory operating reserve. | 2026 |
| Cypress Glen Retirement CommunityGreenville | $24,156 to $408,720p. 33p. 34 | $2,505 to $7,148p. 29p. 31 | 700.69 days (FY2025)p. 2Figures for UMRH Obligated Group (UMRH and The United Methodist Retirement Homes Foundation, Inc.); the same group ratios are reported in the Cypress Glen and Croasdaile Village statements. Group figure for UMRH, which also owns Croasdaile Village and Wesley Pines; it is not a Cypress Glen-only ratio. Consolidated cash and investments ($132.7M, p70) cover about 598 days of consolidated FY2025 cash operating expenses; the reported 700.69 days could not be reproduced from the statements and may count assets limited as to use such as the $20.1M statutory operating reserve. | 2026 |
| Deerfield Episcopal Retirement CommunityAsheville | $325,485 to $989,573p. 21p. 22 | $3,917 to $6,664p. 19p. 20 | 1276 days (FY2025)p. 2The reported 1,276 days (provider only) rests on unrestricted cash and investments that include $33.7M of board-designated funds (statutory operating reserve $9.7M, renewal and replacement $10.4M, mission advancement $10.6M, benevolent assistance $3.0M). Consolidated cash ($16.4M) and investments ($95.9M) alone, $112.3M, cover about 1,044 days of FY2025 cash operating expenses ($46.53M total expenses less $7.25M depreciation). | 2026 |
| Friends Homes GuilfordGreensboro | $30,000 to $416,000p. 28 | $2,119 to $4,841p. 26p. 25 | 741 days (FY2025)p. 2Figures for Friends Homes, Inc., provider only (sole member of its own obligated group) — Friends Homes Guilford and Friends Homes West combined. Ratios cover Friends Homes Guilford and Friends Homes West together. The 741 days counts the $12.9M held as the statutory operating reserve (Table 29.2 gives unrestricted cash and investments of $83.7M). Cash and investments alone ($70.7M) cover about 627 days of FY2025 cash operating expenses. | 2026 |
| Friends Homes WestGreensboro | $139,000 to $510,000p. 27 | $3,343 to $5,305p. 25 | 741 days (FY2025)p. 2Figures for Friends Homes, Inc., provider only (sole member of its own obligated group) — Friends Homes Guilford and Friends Homes West combined. Ratios cover Friends Homes Guilford and Friends Homes West together. The 741 days counts the $12.9M held as the statutory operating reserve (Table 29.2 gives unrestricted cash and investments of $83.7M). Cash and investments alone ($70.7M) cover about 627 days of FY2025 cash operating expenses. | 2026 |
| Galloway Ridge at FearringtonPittsboro | $275,000 to $1,723,000p. 17p. 19 | $4,415 to $8,495p. 22p. 23 | 197 days (FY2025)p. 2The reported 197 days counts all $18.7M in Table 29.2, which is cash of $2.6M plus the $7.4M statutory operating reserve and $8.7M of board-designated funds; Galloway Ridge holds no other unrestricted investments. Cash alone covers about 28 days of 2025 cash operating expenses ($39.07M total expenses less $4.46M depreciation and amortization); cash plus board-designated funds, leaving out the statutory reserve, about 120 days. | 2026 |
| Givens AldersgateCharlotte | $238,794 to $928,258p. 29 | $3,572 to $6,266p. 27p. 28 | 225 days (FY2025)p. 46Figures for Givens Aldersgate Obligated Group (Givens Aldersgate only). FY2025 ratios are for Sept 1-Dec 31, 2025 operations under Givens (p45). Section 29.3 (p43) counts $28.8M of 'unrestricted cash & investments'; Aldersgate's balance sheet column (p84) shows cash $10.8M and investments $6.1M ($16.9M), plus $10.6M of investments restricted for the statutory operating reserve. On the plain $16.9M and Sept-Dec 2025 cash operating expenses (p87), days cash is about 120. Section 35 says 2025 liquidity improved 'due the affiliation with Givens Communities and equity contribution provided'. FY2024 coverage was 0.96x, below its covenant. | 2026 |
| Givens EstatesAsheville | $151,809 to $1,508,902p. 30p. 31 | $2,859 to $5,765p. 29 | 985 days (FY2025)p. 2Debt service coverage fell to 0.53x in 2025, which the statement attributes to cash transfers made to acquire Givens Aldersgate (it was 4.4x in 2024). The 985 days does not match Section 29, which gives $63.0M of unrestricted cash and investments (about 555 days). On the Estates balance sheet it reconciles only by counting $9.6M of Special Use Funds investments (the column holding donor-restricted net assets) and $4.1M of assets limited as to use alongside cash and operating-fund investments ($111.9M, about 985 days). Cash ($10.0M) and operating-fund investments ($88.2M) alone, $98.2M, cover about 865 days of 2025 cash operating expenses ($47.76M less $6.29M depreciation). | 2026 |
| Givens Highland FarmsBlack Mountain | $211,420 to $1,473,750p. 29 | $3,826 to $5,512p. 27 | 259 days (FY2025)p. 47Figures for Givens Highland Farms (provider only). The reported 259 days counts the $5.7M of investments restricted for the statutory operating reserve: Highland's balance-sheet cash ($11.85M), investments ($0.59M) and reserve investments ($5.70M) over FY2025 cash operating expenses come to about 259 days; cash and unrestricted investments alone ($12.44M) cover about 178 days. Section 29 instead cites $6.3M of unrestricted cash and investments (about 99 days of projected costs). DSCR 8.26x is lifted by initial entrance fees on new self-financed apartments (p49). The obligated group (Givens Estates, Highland Farms, Gerber Park II) reports 699 days and 3.43x (p48, p50). | 2026 |
| GlenaireCary | $87,000 to $1,025,000p. 25p. 26 | $3,309 to $6,901p. 23p. 24 | 267 days (FY2025, interim)p. 40Figures for Glenaire, Inc. (community only). Unaudited, and FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 267 days appears to count Glenaire's $11.6M statutory operating reserve: its cash ($3.4M) and investments ($16.3M) alone are about 168 days of cash operating expenses (p69, p71). The Brightspire obligated group reports 725 days and 1.87x (p40, p42). | 2026 |
| Grace Ridge Retirement CommunityMorganton | $78,076 to $547,138p. 29p. 26 | $1,566 to $6,218p. 29p. 26 | 61 days (FY2025, calculated)p. 52The statement reports no ratios; we computed about 61 days from the audit: cash $375,361 plus marketable securities $1,450,073, over FY2025 cash operating expenses of $11.0M. The $5.66M statutory operating reserve is excluded; counting it would give about 248 days. The balance sheet shows no long-term debt, and operations used $2.0M of cash in FY2025 and $5.7M in FY2024 (p54). | 2026 |
| Hayes Barton PlaceRaleigh | Not disclosed in the 2026 filing | $10,038p. 20 | 126 days (FY2025)p. 33First year of operation. DSCR 0.93x is below 1.0. The document also reports a 41.85% net operating margin, which conflicts with its own 103% operating ratio and the audited $6.76M net loss on $22.97M revenue, so no margin is shown. The whole $154.7M construction loan was a current liability due December 14, 2026; it was restated on December 30, 2025 to $195.44M maturing December 31, 2028. Unrestricted cash ($8.19M) was $2.72M below the $10.91M statutory operating reserve; the reserve is covered by a standby letter of credit ($8.47M at year end per the audit), not cash. | 2026 |
| Legacy at Mills RiverMills River | $588,430 to $1,940,885p. 65p. 66 | $4,500 to $4,900p. 22 | 1 days (FY2025)p. 35Development-stage developer with no operations: $3,368 of unrestricted cash at year end. The $12.4M on the balance sheet is buyers' purchase deposits held in escrow. The auditor's report includes a paragraph headed 'Substantial Doubt About the Company's Ability to Continue as a Going Concern'. | 2026 |
| Matthews GlenMatthews | $196,900 to $1,006,900p. 31p. 32 | $2,906 to $7,437p. 30 | 256 days (FY2025)p. 2Figures for ACTS Retirement-Life Communities, Inc. (Obligated Group). Figures are for the whole ACTS obligated group, which runs many communities. ACTS Retirement-Life Communities, Inc. alone (provider only) reports 257 days cash and 3.42x coverage for FY2025 (p45, p47). The group's $395.2M of unrestricted cash and investments (p40) is $74.0M more than cash plus board-designated funds on the balance sheet ($321.2M, p57); the document does not say what the difference is. On cash and board-designated funds alone, days cash ≈ 208 (cash operating expenses including interest, p58). | 2026 |
| Oak Creek ApartmentsBurlington | $25,000 to $30,000p. 18 | $1,300 to $2,070p. 18 | Not disclosed in the 2025 filingFigures for White Oak Manor - Burlington/Oak Creek Apartments (NHC HealthCare/Burlington, LLC), unaudited internal balance sheet. No ratios are reported. The facility balance sheet shows cash of -$940,867 and -$18.2M of intercompany balances, so a days-cash figure cannot be computed meaningfully. The only audited statements are those of the parent, National HealthCare Corporation (Ernst & Young, Form 10-K FY2024, p71-76). | 2025 |
| Penick VillageSouthern Pines | $135,987 to $859,200p. 20 | $2,546 to $6,411p. 21 | 347 days (FY2025, interim)p. 24 | 2026 |
| Pennybyrn at MaryfieldHigh Point | $150,000 to $477,667p. 25p. 26 | $3,314 to $6,899p. 23 | 258 days (FY2025)p. 2The document's $20,208,700 of unrestricted cash and investments (p34) includes the $6,969,000 statutory operating reserve held as an asset limited as to use (p47). Cash and current investments alone ($13,239,700) ≈ 169 days on the document's own basis, ≈ 151 days on total expenses less depreciation and amortization (p49). | 2026 |
| Piedmont CrossingThomasville | $61,500 to $568,500p. 28p. 29 | $1,993 to $4,196p. 27p. 26 | 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). | 2026 |
| Pine KnollSouthern Pines | Not disclosed in the 2026 filing | $1,886 to $4,684p. 19 | 103 days (FY2025, calculated)p. 29Figures for St. Joseph of the Pines, Inc. Computed by us: cash $41,574 + investments $8,655,577 + board-designated $249,830 over FY2025 expenses less depreciation and amortization ($31,727,285/365). Excludes the $3.6M statutory operating reserve, donor-designated funds and $8.8M of other receivables (largely funds held at parent Trinity Health); counting the receivables would give about 205 days. | 2026 |
| Pisgah Valley Retirement CommunityCandler | $257,589 to $466,433p. 21 | $2,426p. 20 | 215 days (FY2025)p. 2Uses the audited balance sheet's $9,634,971 of cash ($8,419,070) and investments ($1,215,901), which Section 29.1 also states and which gives 215 days on 2025 cash expenses. Tables 29.1-29.2 print $10,472,319 instead (about 234 days). The balance sheet also carries $20,857,249 receivable from related parties and a $3,632,968 owners' note that was due and unpaid at year-end; neither is counted. | 2026 |
| Pittsboro Christian VillagePittsboro | $3,500 to $155,000p. 36p. 20 | $2,000 to $2,875p. 19 | 272 days (FY2025)p. 2The document gives three figures: 272 days (Table FS-1), 297 days on $1,648,102 (Section 29.1) and $1,505,266 of unrestricted cash and investments (Tables 29.1-29.2). The audited balance sheet shows $1,608,024 of cash ($1,020,404) and investments ($587,620), which is about 189 days of 2025 cash expenses; 272 is reached only by also counting the $755,000 statutory operating reserve held as an asset limited as to use (about 278 days). | 2026 |
| Porters Neck VillageWilmington | $95,000 to $996,500p. 66 | $3,667 to $8,085p. 66 | 493 days (FY2025)p. 2The reported 493 days counts $23,611,846 (Table 29.1), which is cash ($6,101,477) plus board-designated funds ($12,988,369) plus the $4,522,000 statutory operating reserve held under regulatory requirement (audit Note 3, p51). Without the statutory reserve, about 399 days of 2025 cash expenses. | 2026 |
| Providence PlaceHigh Point | None: rental | $1,024 to $3,019p. 25p. 26 | 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). | 2026 |
| Quail Haven VillagePinehurst | Not disclosed in the 2026 filing | $4,093 to $5,305p. 68 | 20 days (FY2025)p. 2The 20 days rest on $572,275 of unrestricted cash (p27, p41). The statutory operating reserve requirement is $5,790,908 (p28), and the community meets it with an irrevocable letter of credit rather than cash; the disclosure narrative says the letter of credit is for $5,790,908 (Section 29.3, p28), while the audited notes say it was $2,869,000 at December 31, 2025 (p47; also p71) — the document does not reconcile the two amounts. $9.57M of the $21.35M total assets is a receivable from related parties (p41). A $7.4M balloon payment on the main note is due August 2027 (p50). | 2026 |
| River Landing at Sandy RidgeColfax | $15,000 to $638,000p. 26p. 25 | $3,979 to $6,030p. 23p. 24 | 738 days (FY2025)p. 2Figures for Brightspire obligated group (The Presbyterian Homes, Inc.: Glenaire, River Landing at Sandy Ridge, Scotia Village). Obligated-group figures, not River Landing alone: FS-1 (p2) and Tables 35.1A-35.3A report the Brightspire obligated group (Glenaire, River Landing at Sandy Ridge, Scotia Village). River Landing alone reported 1,000 days cash on hand, 2.29x debt service coverage and an 18.04% net operating margin (Tables 35.1-35.3, p39-41). FY2025 is a fifteen-month period (Oct 2024-Dec 2025) after a fiscal-year-end change (p7). The $191.7M of unrestricted cash and investments behind the group's 738 days includes the $27.06M statutory operating reserve (Table 29.2, p36); without it roughly 634 days. | 2026 |
| SalemtowneWinston-Salem | $93,800 to $675,100p. 82 | $2,924 to $6,142p. 82 | 247 days (FY2026)p. 2Unreconciled cash figure: the 247 days rest on $25,031,241 of unrestricted cash and investments reported in Section 29 (Tables 29.1-29.2, p36), but the audited balance sheet shows cash of $3,942,756 plus investments of $16,043,902 = $19,986,658 (p49), about 198 days on the same expense base (p51); the $8,005,000 statutory operating reserve is held separately as assets limited as to use (p49). The document does not explain the $5.04M difference. The 7.1% net operating margin is the NC statutory ratio (FS-1, p2); the audited statement of operations shows an operating loss of $709,937 on $41,752,771 of revenue for FY2026 (p51). | 2026 |
| Scotia VillageLaurinburg | $54,000 to $444,000p. 25 | $3,131 to $4,815p. 23p. 24 | 248 days (FY2025)p. 38Figures for Scotia Village (community only). FY2025 is a 15-month period (Oct 2024-Dec 2025) after a fiscal-year-end change. The 248 days appears to count Scotia Village's $4.4M statutory operating reserve: its cash ($0.16M) and investments ($6.26M) alone are about 147 days of cash operating expenses (p78, p81). The Brightspire obligated group reports 738 days and 2.08x (p38, p40). | 2026 |
| Searstone Retirement CommunityCary | $509,000 to $1,224,000p. 22 | $4,240 to $9,500p. 20 | 553 days (FY2025)p. 35The provider says the FY2025 coverage of 2.45x is high because only Phase I debt service is included in the calculation; it projects 1.48x for 2026 (p36). Days cash: unrestricted cash ($2.6M) and short-term investments ($36.3M) = $38.9M (p45, p31); against FY2025 total expenses less depreciation and amortisation ($30.1M, p46) that is about 473 days, below the reported 553, which the document does not show the working for. | 2026 |
| Sharon Village ApartmentsCharlotte | $17,000 to $30,000p. 18 | $980 to $2,390p. 18 | Not disclosed in the 2025 filingFigures for National HealthCare Corporation (parent; financially responsible for subsidiaries' obligations). The filing has no financial statements for Sharon Village or its operating LLC. Its only audited statements are the FY2024 Form 10-K of the parent, National HealthCare Corporation (Ernst & Young, unmodified), covering the whole publicly traded company; Section VI (p21) says the parent filings will be presented until the newly formed provider entity has its own audited statements. Parent figures are not shown as this community's. | 2025 |
| SouthminsterCharlotte | $158,500 to $1,248,300p. 98 | $4,488 to $8,120p. 98 | 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. | 2026 |
| Springmoor Life Care Retirement CommunityRaleigh | $144,500 to $622,800p. 18p. 19 | $3,811 to $6,703p. 17p. 18 | 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. | 2026 |
| Stanley Total Living CenterStanley | $36,000 to $42,000p. 22 | $3,531 to $4,267p. 21 | 152 days (FY2025)p. 2 | 2026 |
| The Barclay at SouthParkCharlotte | Not disclosed in the 2026 filing | $7,602 to $9,107p. 68 | 23 days (FY2025)p. 2Rests on $1.73M of unrestricted cash; $3.91M of restricted cash is excluded. The $8.19M statutory operating reserve is covered by a standby letter of credit rather than cash (p29, p33). FY2025 ended with a $2.45M net loss after $6.68M of interest and $4.96M of depreciation (p42), which the statutory 28.08% resident operating margin does not reflect. | 2026 |
| The Cardinal at North HillsRaleigh | None: rental | $7,405 to $13,240p. 19 | 11 days (FY2025)p. 2Figures for The Cardinal at North Hills, LLC and The Cardinal at North Hills Healthcare, LLC (excludes the East Tower; FS-1 does not name the entities, but the 11 days and 5.96% margin reproduce only from these two columns). The 11 days covers The Cardinal at North Hills, LLC and its health center LLC only ($772,582 of cash), not the East Tower included in the combined balance sheet (combined: $1.31M cash, about 9 days). There is no debt, but both LLCs lease the campus from the affiliated landlord KSL Toledo Tenant, LLC (rent $9.6M in FY2025; lease liabilities $78.4M). The statutory operating reserve is met with a $6.9M bank letter of credit, not cash. | 2026 |
| The Cedars of Chapel HillChapel Hill | Purchase + membership fee | $5,255 to $6,940p. 20 | 88.1 days (FY2025)p. 2Days cash counts restricted cash held as the NC statutory operating reserve (FS-1 note 1, p2). Unrestricted cash alone was $445,499 at 12/31/2025, about 9 days of 2025 expenses. Section 29.1 (p26) states 81 days at year-end, which FS-1 shows for FY2024. | 2026 |
| The Cypress of CharlotteCharlotte | Purchase + membership fee | $3,826 to $6,873p. 30 | 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. | 2026 |
| The Cypress of RaleighRaleigh | Purchase + membership fee | $3,828 to $6,560p. 38p. 39 | 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. | 2026 |
| The East Tower at Cardinal North HillsRaleigh | None: rental | $7,653 to $15,515p. 19 | 8 days (FY2025)p. 2Cash on hand covered 8 days of operating costs at the end of 2025, 2 days at the end of 2024 and 0 days at the end of 2023 (FS-1, p2): year-end 2025 cash was $538,885 against about $26M a year of expenses, most of it $12.7M rent. The state-required operating reserve is not held as cash or investments; it is met by a $6.8M irrevocable standby letter of credit from Credit Agricole, which cannot be drawn for any purpose, including fee refunds, without regulator approval (pp27-28). | 2026 |
| The Forest at DukeDurham | $50,000 to $680,585p. 39p. 24 | $950 to $7,893p. 39p. 26 | 678 days (FY2025)p. 31Counts the $6.83M statutory operating reserve and $4.99M of board-designated funds; cash and investments alone ($38.7M) ≈ 521 days, or ≈ 588 days with the board-designated funds but without the statutory reserve. | 2026 |
| The Gardens of Taylor GlenConcord | $150,300 to $614,000p. 19p. 20 | $2,520 to $8,150p. 20 | 475.24 days (FY2025, interim)p. 4Figures for Baptist Retirement Homes of North Carolina, Incorporated dba ThriveMore (consolidated). | 2026 |
| The Oaks at Whitaker GlenRaleigh | $124,000 to $783,000p. 22p. 24 | $2,500 to $6,200p. 21p. 23 | 171 days (FY2025)p. 2The 171 days hold only by counting the $2,925,704 restricted statutory operating reserve; unrestricted cash was $46,927 at 12/31/2025 (about 3 days). That restricted reserve is below the $3,148,992 required, and the provider counts a $2,587,853 callable note receivable from its ultimate parent, United Health Services, Inc., and a parent guaranty toward the requirement. No debt service in 2023-2025, so coverage is not applicable. The on-campus skilled nursing facility closed in July 2022. | 2026 |
| The Pines at DavidsonDavidson | $40,000 to $1,150,000p. 25p. 24 | $700 to $8,183p. 25p. 22 | 630 days (FY2025)p. 2Counts the $8,025,000 statutory operating reserve, which cannot be used without regulatory approval; cash ($5.3M) and investments ($39.8M) alone ≈ 534 days. Section 29 also gives unrestricted cash and investments as both $53.2M and $47.8M. | 2026 |
| The Sharon at SouthParkCharlotte | $26,500 to $907,300p. 100 | $3,517 to $6,908p. 25 | 496 days (FY2025)p. 2 | 2026 |
| The Templeton of CaryCary | Not disclosed in the 2026 filing | $6,098 to $9,413p. 68 | 51 days (FY2025)p. 2The 51 days rests on $3,330,525 of unrestricted cash and investments. Against a required statutory operating reserve of $7,289,815 that is a deficiency of $3,959,290, which the statement says the community will satisfy with an irrevocable, unconditional letter of credit of $7,289,815 payable to the NC Department of Insurance. The whole $68,852,401 note payable was due to mature on January 30, 2026 and is classified as current; on February 11, 2026 the company entered into a new loan maturing March 2029, with the option to extend for two successive one-year terms, and used it to fully repay that note. | 2026 |
| The Village at BrookwoodBurlington | $162,000 to $567,000p. 27p. 26 | $3,081 to $6,104p. 25 | 100 days (FY2025)p. 2Figures for The Village at Brookwood (community only); the bond covenants apply to the Well-Spring Services obligated group. The 100 days counts the $4.0M statutory operating reserve: Brookwood's cash ($0.84M) + investments ($0.13M) + the reserve ($4.01M) = the $4.98M of 'unrestricted cash and investments' the statement cites (p35, p86). Cash and investments alone are about $0.97M, roughly 20 days at the same daily expense rate the statement used for its 100. The Well-Spring Services obligated group, which owes the bonds, reports 433 days and 3.97x coverage for FY2025 (p40, p42). | 2026 |
| Trinity ElmsClemmons | None: rental | $2,070 to $2,740p. 114 | 368 days (FY2025, interim)p. 2Figures for 'Lutheran Services Carolinas Retirement Center – Clemmons, Inc.' as headed on Table FS-1 (the LSA obligated group's ratios are in Table FS-2). The statement does not say which entities the FS-1 ratios cover or whether they come from the audit. The LSA obligated group, which owes the bonds, reports 408 days and 4.48x coverage for FY2025 (FS-2, p2). | 2026 |
| Trinity LandingWilmington | $165,961 to $859,999p. 27 | $3,656 to $6,377p. 24p. 25 | 248 days (FY2025)p. 2Figures for Trinity Landing campus consolidated (Trinity Landing + Trinity Grove + Lutheran Home Wilmington Property), per Section 35. Provider ratios cover the combined Wilmington campus (Trinity Landing, Trinity Grove nursing and the Wilmington property company), not the Trinity Landing balance sheet shown. The 248 days count $18.3M of cash and investments that includes the $3.3M statutory operating reserve; without the reserve the campus holds about $15.0M (≈203 days), and the Trinity Landing entity alone holds $12.6M of cash and investments. The LSA obligated group, jointly liable for the bonds, reported 408 days cash and 4.48x coverage for the same year (Table FS-2). | 2026 |
| Trinity OaksSalisbury | $69,627 to $499,888p. 27p. 28 | $2,408 to $4,293p. 25 | 659 days (FY2025, interim)p. 2Figures for Lutheran Retirement Center - Salisbury, Inc. (provider only per FS-1; the 659 days reproduce from the Trinity Oaks campus consolidated schedule). No audit was attached: Appendix A, titled 'Audited Financial Statements', holds a management actual-vs-forecast schedule, so these figures and ratios are unaudited. The 659 days count $45.0M of campus cash and investments including the $2.3M statutory operating reserve (about 625 days without it), while Section 29.1 reports only $9.7M of unrestricted cash and investments. Coverage is high because the provider carries little debt (p46). The LSA obligated group, jointly liable for the system's bonds, reported 408 days cash and 4.48x coverage (Table FS-2). | 2026 |
| Tryon EstatesColumbus | $179,900 to $802,900p. 31 | $3,254 to $5,790p. 30 | 256 days (FY2025)p. 2Figures for ACTS Retirement-Life Communities, Inc. (Obligated Group). Figures are for the whole ACTS obligated group, which runs many communities in several states; ACTS Retirement-Life Communities, Inc. alone (provider only) reports 257 days cash and 3.42x coverage for FY2025 (p45, p47). The 256 days rest on $395.2M of 'unrestricted cash and investments' (Section 29); the audit's liquidity note counts $321.2M of cash and investments without donor restrictions, including internally designated funds (p67), about 208 days, and says state reserves, debt reserves and the interest in ALF/CFSA investments are restricted. The document does not reconcile the $74M difference. | 2026 |
| Twin Lakes CommunityBurlington | $67,000 to $599,000p. 23 | $2,033 to $3,860p. 23 | 410.29 days (FY2025, interim)p. 2Margin caution: the 13.29% net operating margin is the NC statutory ratio from the Key Financial Metrics table (p2), which does not mark its years as audited; the audited statement of operations shows a GAAP operating loss of $4,039,041 on $46,100,888 of operating revenue for FY2025 (p36), about -8.8%, after $10.9M of depreciation and $4.0M of interest. | 2026 |
| Well-Spring, A Life Plan CommunityGreensboro | $138,000 to $648,000p. 26 | $3,817 to $7,579p. 24 | 565 days (FY2025)p. 40Figures for Well-Spring Retirement Community (community only). The 565 days counts the community's $9.4M statutory operating reserve ($56.4M of 'unrestricted cash and investments', p36). Cash ($1.7M) and investments ($45.3M) alone are about 484 days of cash operating expenses (p87, p89). The Well-Spring Services obligated group (with The Village at Brookwood) reports 433 days and 3.97x (p40, p42). | 2026 |
| Wesley Pines Retirement CommunityLumberton | $82,564 to $191,397p. 31 | $3,424 to $3,559p. 30 | 700.69 days (FY2025)p. 2Figures for UMRH Obligated Group (UMRH and The United Methodist Retirement Homes Foundation, Inc.); the same group ratios are reported in the Cypress Glen and Croasdaile Village statements. Group figure for UMRH, which also owns Croasdaile Village and Cypress Glen; it is not a Wesley Pines-only ratio. Consolidated cash and investments ($132.7M, p66) cover about 598 days of consolidated FY2025 cash operating expenses; the reported 700.69 days could not be reproduced from the statements and may count assets limited as to use such as the $20.1M statutory operating reserve. | 2026 |
| White Oak Village ApartmentsTryon | $25,000 to $30,000p. 18 | $1,110 to $1,895p. 18 | Not disclosed in the 2025 filingFigures for White Oak Manor-Tryon/White Oak Village Apartments (NHC HealthCare/Tryon, LLC), unaudited internal balance sheet. No ratios are reported, and the filing has no audited financial statements for White Oak Village or its operating LLC. The figures shown come from an unaudited internal ledger printout (p166-168) that combines the apartments with the White Oak Manor - Tryon nursing center and does not balance ($621,590 of assets vs $621,745 of liabilities and equity); it shows cash of -$990,360 and -$11.97M of 'other assets', so days cash cannot be computed meaningfully. The only audited statements in the filing are the FY2024 Form 10-K of the parent, National HealthCare Corporation, covering the whole company; parent figures are not shown as this community's. | 2025 |
| WhiteStone: A Masonic and Eastern Star CommunityGreensboro | $30,900 to $510,803p. 22 | $3,788 to $5,843p. 21 | 302 days (FY2025)p. 2The reported 302 days only holds by counting reserves: cash ($4.3M) and investments ($11.8M) on the audited balance sheet are about 208 days of 2025 cash operating expenses (p44, p45); adding the $6.1M NC DOI operating reserve and $0.9M board-designated for entrance fee refunds (p55) gives about 297 days. The statement's own unrestricted cash figure is given as both $18,964,908 (p31) and $18,375,352 (p32). The 18.1% statutory net operating margin sits beside an audited 2025 operating loss of $2,564,421 under GAAP (p45). | 2026 |
| Windsor PointFuquay-Varina | $8,000 to $292,500p. 21 | $3,060 to $6,995p. 19 | 385 days (FY2025)p. 34The document reports debt service coverage of 104.63x (not shown: outside the range the site displays) because the only debt is a small $67,840 loan; the community's main fixed cost is $2.5M a year of rent to a related-party landlord, which is an operating expense, not debt. Days cash counts cash and certificates of deposit ($12.4M) and excludes the $3.73M statutory operating reserve. | 2026 |
| Windsor RunMatthews | $195,000 to $1,149,000p. 21 | $2,989 to $6,028p. 17 | 27 days (FY2025)p. 3627 days counts only operating cash ($2.96M, p47). The balance sheet also holds $8.28M of resident capital cash (entrance fee and deposit money) not counted. The community has no long-term debt of its own, but its campus secures its parent Erickson Living Holdings' $2.2 billion credit facility, and it relies on member contributions ($55.7M in 2025) for construction. | 2026 |