Greenspring Village
7410 Spring Village Drive, Springfield, Virginia 22150
- Operator:
- Greenspring Village, Inc., managed by Erickson Senior Living, LLC
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2024 filing
- Opened:
- Not disclosed in the 2024 filing
501(c)(3) non-stock corporation whose sole member is National Senior Communities, Inc.; managed under contract by Erickson Senior Living, LLC (owned by Erickson Living Holdings, LLC).
- Type C (fee for service)
Figures from the 2024 disclosure statement (fiscal 2023 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF The finances describe fiscal 2023; this is the newest statement we have for Greenspring Village, and a later one may have been filed since.
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- 90% Refund AmountNever less than 90% of the fee
Days cash on hand
Read the note on this figure
Management's figure counts a $259.9M beneficial interest in National CCRC Business Trust I (a related trust). Cash and short-term investments alone come to about 133 days.
Independent living occupancy
Nursing care, CMS overall rating
What care costs later
How each contract prices assisted living and nursing if you need them. The contract type decides most of what a long stay costs.
- Type C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type C (fee for service)
Residents who move permanently to assisted living, memory care or nursing pay the monthly package or daily rate for that unit (memory care $12,742/month, nursing $592/day in 2025). Outside admissions to these units pay a $103,000 deposit.p. 102
- Assisted living
- Assisted living Monthly Service Package by care level: $6,931-$15,827/month (2025, moved to AL after 12/31/2023)
- Nursing care
- Private nursing daily rate $592 (as of 1/1/2025)
| Independent living | 1,362 |
|---|---|
| Assisted living | 155 |
| Memory care | 59 |
| Nursing care | 50 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Residence and Care Agreement (90% refundable) · Type C (fee for service) (7 prices, $144,000 to $1,280,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Studio/Efficiency | 90% Refund Amount | $144,000 to $209,000p. 101 | Not listed |
| One bedroom, One Bath | 90% Refund Amount | $272,000 to $561,000p. 101 | Not listed |
| One bedroom, 1 ½ Bath | 90% Refund Amount | $439,000 to $561,000p. 101 | Not listed |
| One Bedroom, One Bath, with Den | 90% Refund Amount | $393,000 to $549,000p. 101 | Not listed |
| Two Bedroom, One Bath | 90% Refund Amount | $407,000 to $551,000p. 101 | Not listed |
| Two Bedroom, 1 ½ Bath | 90% Refund Amount | $445,000 to $623,000p. 101 | Not listed |
| Two Bedroom, Two Bath | 90% Refund Amount | $519,000 to $1,280,000p. 101 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Residence and Care Agreement (90% refundable) · Type C (fee for service) (12 prices, $2,660 to $15,827)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Studio/Efficiency | Independent living | $2,660 to $2,964p. 101 | $1,240 |
| One bedroom, One Bath | Independent living | $3,029 to $3,869p. 101 | $1,240 |
| One bedroom, 1 ½ Bath | Independent living | $3,440 to $3,869p. 101 | $1,240 |
| One Bedroom, One Bath, with Den | Independent living | $3,440 to $3,869p. 101 | $1,240 |
| Two Bedroom, One Bath | Independent living | $3,440 to $3,712p. 101 | $1,240 |
| Two Bedroom, 1 ½ Bath | Independent living | $3,535 to $3,869p. 101 | $1,240 |
| Two Bedroom, Two Bath | Independent living | $3,712 to $5,430p. 101 | $1,240 |
| Assisted living studio - Evergreen Terrace + Rose Court | Assisted living | $6,931 to $12,810p. 102 | Not listed |
| Assisted living studio - Dogwood Commons | Assisted living | $7,319 to $13,190p. 102 | Not listed |
| Assisted living one bedroom | Assisted living | $8,317 to $15,372p. 102 | Not listed |
| Assisted living deluxe one bedroom | Assisted living | $8,782 to $15,827p. 102 | Not listed |
| Memory care private, single occupancy | Memory care | $12,742p. 102 | Not listed |
Fee increases, year by year
No year-by-year increase history was recorded from the 2024 filing.
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
90% Refund Amountp. 24
After move-in, 90% of the entrance fee is refundable (10% is a non-refundable Community Fee), reduced by any entrance fee spent down for care. Refunds are paid in sequence from a Refund Account funded by new residents' entrance fees, within 60 days of becoming eligible; there is no stated cap on the wait.
- Kept on move-in
- 10% of the fee
- Declines by
- Does not decline
- Never less than
- 90% of the fee
- Longest wait
- No limit stated
- Paid
- In turn, from a fund of new residents' entrance fees
Refund calculator
Estimated refund: $129,600 (90% of the fee)
When it is paid: in turn, from a fund of new residents' entrance fees. This applies the plan terms as recorded from the filing, counting a part month as a whole one. The signed contract governs, and charges you owe or care paid for from the fee can be deducted first.
How entrance-fee refunds work, and why the payment date matters
Finances
Whether the organisation behind the community has the cash and income to keep its promises for decades.
- Greenspring Village is part of Obligated Group of National Senior Communities, Inc. (Ann's Choice, Brooksby Village, Cedar Crest Village, Greenspring Village, Seabrook Village, Linden Ponds).
- Balance sheet and ratios: Greenspring Village, Inc.
- Ratios are interim figures, unaudited.
Days cash on hand
1,246 days FY2023p. 112
- Its lenders’ minimum: 120 daysp. 132
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
Not disclosed in the 2024 filing
- Its lenders’ minimum: 1.20xp. 132
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresManagement's figure counts a $259.9M beneficial interest in National CCRC Business Trust I (a related trust). Cash and short-term investments alone come to about 133 days.
How to read these figures: what each one measures and why a lender’s minimum is a floor, not a target.
Balance sheet and trend
| Fiscal year | FY2023p. 112 | FY2022p. 112 |
|---|---|---|
| Days cash on hand | 1246 days | Not disclosed |
| Operating margin | -17.9% | -15.9% |
| Total assets | $663.7 million | $612.6 million |
| Total liabilities | $645.6 million | $612.8 million |
| Long-term debt | $93.0 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | Not disclosed | Not disclosed |
| Entrance-fee liabilities, not split in the filing | $525.2 million | Not disclosed |
| Net position (assets minus liabilities) | $18.1 million | −$193,386 |
Auditor: PricewaterhouseCoopers LLP. Opinion: Unmodified (clean) opinionp. 112
Occupancy
| Level of care | 2023p. 155 |
|---|---|
| Independent living | 95.8% |
| Assisted living | 88.4% |
| Memory care | 81.4% |
| Nursing care | 90% |
Nursing care on campus
From CMS Care Compare, data as of 2026-09-01. These are the federal government’s ratings of the nursing center, not ours.
- Overall
- 1 of 5
- Health inspections
- 1 of 5
- Staffing
- 4 of 5
- Quality measures
- 4 of 5
Fines recorded by CMS: 1 totalling $81,178. GREENSPRING VILLAGE on Care Compare
In brief
Greenspring Village is a nonprofit continuing care community on about 58 acres in Springfield, managed by Erickson Senior Living, with 1,362 independent living apartments plus assisted living, memory care and nursing (capacities as of December 2023). Entrance fees are 90% refundable from a pooled refund account, and residents pay the monthly fee for whatever level of care they occupy. 2025 entrance fees range from $144,000 to $1,280,000 and independent living monthly fees from $2,660 to $5,430.PDF
Nearest communities in Virginia
- The Fairfax
Fort Belvoir · 4 miles away
Entrance fee: $135,598 to $1,027,327
- Goodwin House Seminary Road
Alexandria · 7 miles away
Entrance fee: $192,500 to $1,966,234
- Goodwin House Alexandria
Alexandria · 7 miles away
Entrance fee: $77,476 to $1,529,320
Sources
- Greenspring Village — December 2024 Disclosure StatementVirginia State Corporation Commission, Bureau of Insurance · filed 2024, fiscal 2023 finances · 155 pages · retrieved 2026-10-15
Each page tab above opens this PDF at the page the figure came from. Spotted a figure that does not match its page? Tell us and it is checked against the filing.