Masonic Home of Virginia
500 Masonic Lane, Richmond, Virginia 23223
- Operator:
- Masonic Home of Virginia
- Ownership:
- Nonprofit
- Affiliation:
- Masonic: serves exclusively those affiliated with the Grand Lodge A.F. & A.M. of Virginia, which conveys an annual member dues assessment but does not guarantee the Home's obligations (p7).
- Opened:
- Not disclosed in the 2023 filing
Nonprofit corporation chartered by the General Assembly of Virginia in 1890; 501(c)(3); owns all property on which the facility operates, about 93 acres in eastern Henrico County (p5, p7).
- Type B (modified)
- Type C (fee for service)
Figures from the 2023 disclosure statement (fiscal 2022 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF The finances describe fiscal 2022; this is the newest statement we have for Masonic Home of Virginia, 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
- Village / B-Wing Apartment pro-rata refundCan decline to nothing
- Adult Home entrance fee (6-month proration)Terms not disclosed in the 2023 filing
- C/D-Wing Suite fee prorationCan decline to nothing
Days cash on hand
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 B (modified): A set number of care days is included, or care is charged at a stated discount.
- Type C (fee for service): Care is charged at market rates when you need it.
How the contract types compare
Type B (modified)
Independent living residents may apply to the Adult Home or Care Center; admission requires Board approval and a new contract. 30 days of care a year are included, then standard rates.p. 12
- Assisted living
- Up to 30 days of care per calendar year at no additional charge; beyond that, the paying-resident rate for the level of care
- Nursing care
- Up to 30 days per calendar year included; then nursing home (Care Center) rates apply ($11,770/month in 2023)
- Care days included
- 30
Type C (fee for service)
Adult Home paying residents pay a monthly fee that rises with their level of care and pay the established Care Center rate for nursing; they pay their own medical, physician and medication costs.p. 8
- Assisted living
- Per-person monthly fee by level: Residential $4,580, AL I $6,185, AL II $7,840 (2023)
- Nursing care
- Care Center / Memory Support II $11,770 per person per month (2023)
| Independent living | 108 |
|---|---|
| Assisted living | 168 |
| Memory care | Not disclosed in the 2023 filing |
| Nursing care | 67 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Resident Agreement for Independent Living Units (Masonic Village) · Type B (modified) (2 prices, $36,000 to $279,900)
Contract of Paying Resident (Adult Home) · Type C (fee for service) (1 prices, $36,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Adult Home room | Adult Home entrance fee (6-month proration) | from $36,000p. 10 | Not listed |
Contract of Paying Resident for C-/D-Wing Suite · Type C (fee for service) (1 prices, $90,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| C- and D-Wing Suite | C/D-Wing Suite fee proration | from $90,000p. 10 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Resident Agreement for Independent Living Units (Masonic Village) · Type B (modified) (2 prices, $2,355 to $5,623)
Contract of Paying Resident (Adult Home) · Type C (fee for service) (5 prices, $4,580 to $15,301)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Residential (incl. C- and D-Wing Suites) | Assisted living | from $4,580p. 11 | Not listed |
| Assisted Living I (incl. C- and D-Wing Suites) | Assisted living | from $6,185p. 11 | Not listed |
| Assisted Living II (incl. C- and D-Wing Suites) | Assisted living | from $7,840p. 11 | Not listed |
| Memory Support I | Memory care | from $9,790p. 12 | Not listed |
| Care Center and Memory Support II | Nursing care | $11,770 to $15,301p. 12 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2023 | Independent living | Masonic Village, Plan A (per couple) | 7%calculated from the dollar amounts | $2,510 to $2,685p. 13 |
| 2023 | Assisted living | Assisted Living I (Adult Home) | 6%calculated from the dollar amounts | $5,835 to $6,185p. 11 |
| 2023 | Memory care | Memory Support I | 6%calculated from the dollar amounts | $9,235 to $9,790p. 12 |
| 2023 | Nursing care | Care Center and Memory Support II | 6%calculated from the dollar amounts | $11,105 to $11,770p. 12 |
| 2022 | Independent living | Masonic Village, Plan A (per couple) | 4.1%calculated from the dollar amounts | $2,411 to $2,510p. 13 |
| 2022 | Assisted living | Assisted Living I (Adult Home) | 4%calculated from the dollar amounts | $5,610 to $5,835p. 11 |
| 2022 | Memory care | Memory Support I | 4%calculated from the dollar amounts | $8,880 to $9,235p. 12 |
| 2022 | Nursing care | Care Center and Memory Support II | 4%calculated from the dollar amounts | $10,680 to $11,105p. 12 |
| 2021 | Independent living | Masonic Village, Plan A (per couple) | 2.8%calculated from the dollar amounts | $2,345 to $2,411p. 13 |
| 2021 | Assisted living | Assisted Living I (Adult Home) | 2.9%calculated from the dollar amounts | $5,450 to $5,610p. 11 |
| 2021 | Memory care | Memory Support I | 2.9%calculated from the dollar amounts | $8,630 to $8,880p. 12 |
| 2021 | Nursing care | Care Center and Memory Support II | 2.9%calculated from the dollar amounts | $10,380 to $10,680p. 12 |
| 2020 | Independent living | Masonic Village, Plan A (per couple) | 3.8%calculated from the dollar amounts | $2,260 to $2,345p. 13 |
| 2020 | Assisted living | Assisted Living I (Adult Home) | 3.8%calculated from the dollar amounts | $5,250 to $5,450p. 11 |
| 2020 | Memory care | Memory Support I | 3.9%calculated from the dollar amounts | $8,310 to $8,630p. 12 |
| 2020 | Nursing care | Care Center and Memory Support II | 3.9%calculated from the dollar amounts | $9,995 to $10,380p. 12 |
| 2019 | Independent living | Masonic Village, Plan A (per couple) | 3.7%calculated from the dollar amounts | $2,180 to $2,260p. 13 |
| 2019 | Assisted living | Assisted Living I (Adult Home) | 4%calculated from the dollar amounts | $5,050 to $5,250p. 11 |
| 2019 | Memory care | Memory Support I | 3.9%calculated from the dollar amounts | $7,995 to $8,310p. 12 |
| 2019 | Nursing care | Care Center and Memory Support II | 4%calculated from the dollar amounts | $9,615 to $9,995p. 12 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Village / B-Wing Apartment pro-rata refundp. 68
The refundable amount drops 10% on move-in and 1.5% of the original fee each month after, reaching zero after five years. Any refund is paid only after the unit is re-let and the new resident's entrance fee is paid in full.
- Kept on move-in
- 10% of the fee
- Declines by
- 1.5% a month for 60 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- When your unit is re-occupied and the new resident has paid
Adult Home entrance fee (6-month proration)p. 10
If a resident leaves within six months of admission, 50% of the entrance fee is refunded on a prorated basis; after six months nothing is refundable.
- Kept on move-in
- 50% of the fee
- Declines by
- Not disclosed in the 2023 filing
- Never less than
- Not disclosed in the 2023 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2023 filing
C/D-Wing Suite fee prorationp. 10
The base $36,000/$48,000 entrance fee follows the six-month 50% proration; the refundable amount declines 10% on admission and 1.5% a month, with no refund after five years.
- Kept on move-in
- 10% of the fee
- Declines by
- 1.5% a month for 60 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2023 filing
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: when your unit is re-occupied and the new resident has paid. 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.
- Balance sheet and ratios: Masonic Home of Virginia.
- Days cash on hand was calculated by us from the audited statements using the standard formula. The formula
Days cash on hand
1,295 days FY2022p. 140
- Its lenders’ minimum: Not disclosed in the 2023 filing
- 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 2023 filing
- Its lenders’ minimum: Not disclosed in the 2023 filing
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
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 | FY2022p. 140 | FY2021p. 191 |
|---|---|---|
| Days cash on hand | 1295 days | 1823 days |
| Operating margin | -92.4% | -74% |
| Total assets | $74.4 million | $90.8 million |
| Total liabilities | $7.2 million | $7.5 million |
| Long-term debt | $0 | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $1.4 million | Not disclosed |
| Entrance-fee liabilities, not split in the filing | $4.8 million | Not disclosed |
| Net position (assets minus liabilities) | $67.3 million | $83.3 million |
Auditor: Keiter. Opinion: Unmodified (clean) opinionp. 140
Occupancy
| Level of care | 2022p. 191 |
|---|---|
| Independent living | 69% |
| Assisted living | 46% |
| Memory care | Not disclosed |
| Nursing care | 15% |
Nursing care on campus
We have not linked this community’s nursing center to a CMS record. Nursing centers certified by Medicare can be looked up on CMS Care Compare.
In brief
Masonic Home of Virginia is a nonprofit community in Richmond (Henrico County) that serves people affiliated with the Grand Lodge A.F. & A.M. of Virginia, with 108 independent living units, a 168-bed licensed home for adults and a 67-bed nursing home. Independent living residents pay an entrance fee that declines to no refund over five years and receive up to 30 days of care a year; Adult Home residents pay monthly fees by level of care. In 2022 it reported expenses of $13.6 million against $7.1 million of support and revenue, with no long-term debt and a $46.9 million securities portfolio.PDF
Nearest communities in Virginia
- Westminster Canterbury Richmond
Richmond · 6 miles away
Entrance fee: $135,485 to $1,074,558
- Covenant Woods
Mechanicsville · 6 miles away
Entrance fee: $233,200 to $1,381,311
- Lucy Corr
Chesterfield · 13 miles away
Entrance fee: $128,750 to $440,563
Sources
- Masonic Home of Virginia — Annual Disclosure Statement (filed April 2023)Virginia State Corporation Commission, Bureau of Insurance · filed 2023, fiscal 2022 finances · 206 pages · retrieved 2026-10-15
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