Summit Square
501 Oak Avenue, Waynesboro, Virginia 22980
- Operator:
- Sunnyside Presbyterian Home (Sunnyside Communities)
- Ownership:
- Nonprofit
- Affiliation:
- Not disclosed in the 2026 filing
- Opened:
- 1998
Non-stock, not-for-profit corporation, 501(c)(3) exempt; owns the 7.3-acre campus in fee simple (p4).
- Type B (modified)
- Type C (fee for service)
- Rental
Figures from the 2026 disclosure statement (fiscal 2025 finances), filed with the Virginia State Corporation Commission, Bureau of Insurance.PDF
At a glance
Entrance fee, one person, every plan
Monthly fee, independent living
Refund plans offered
- Type I declining refundCan decline to nothing
- Type II declining refundCan decline to nothing
- Type III 50% refundNever less than 50% of the fee
Days cash on hand
Read the note on this figure
Days cash and coverage are for Sunnyside Presbyterian Home's three campuses together (Sunnyside, King's Grant, Summit Square), not Summit Square alone; Summit Square's own column holds $242,738 cash and $3,938,591 investments (p141). Days cash 419 is the audit note figure (p124); the covenant schedule (Exhibit F, p159) shows 418. Coverage 4.87x is from that management covenant schedule (p157), not the audit.
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.
- Rental: No entrance fee and no promise of future care.
How the contract types compare
Type C (fee for service)The filing calls it Type I - FFS / Type III - FFS; we class contracts by how care is priced (our definitions).
Residents have priority admission to assisted living and the health care center but pay the daily rate; the apartment's monthly fee stops while they are there (except Medicare short-term skilled stays). Type III's 50% refund may be used toward care.p. 4
- Assisted living
- Per diem: $297/day private, $324/day deluxe (2026)
- Nursing care
- Per diem: $387/day semi-private, $424/day private (2026); memory support $337/day
- Priority for a bed
- Yes, residents come before outside admissions
Type B (modified)The filing calls it Type II - Modified; we class contracts by how care is priced (our definitions).
Ninety days of assisted living and/or health care, cumulative over the resident's lifetime and non-transferable, during which the resident keeps paying the regular monthly fee; after that the full per diem applies.p. 4
- Assisted living
- 90 lifetime days at the regular monthly fee plus extra meals and ancillary supplies; full per diem after
- Nursing care
- 90 lifetime days at the regular monthly fee plus extra meals and ancillary supplies; full per diem after
- Care days included
- 90
RentalThe filing calls it Rental; we class contracts by how care is priced (our definitions).
Rental residents pay the applicable daily fee for assisted living or health care.p. 5
- Assisted living
- Applicable daily fee
- Nursing care
- Applicable daily fee
| Independent living | 63 |
|---|---|
| Assisted living | 18 |
| Memory care | 17 |
| Nursing care | 16 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Type I – Fee for Service · Type C (fee for service) (14 prices, $71,000 to $249,200)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Cherry (Studio) | Type I declining refund | from $71,000p. 100 | $23,900 |
| Chinquapin (1 BR/1 BA) | Type I declining refund | from $76,000p. 100 | $23,900 |
| Southern Magnolia (1 BR/1 BA) | Type I declining refund | from $81,000p. 100 | $23,900 |
| Chestnut (1 BR/1 BA) | Type I declining refund | from $115,500p. 100 | $23,900 |
| Birch (2 BR/1 or 1.5 BA) | Type I declining refund | from $122,900p. 100 | $23,900 |
| Willow (1 BR/1 or 1.5 BA) | Type I declining refund | from $128,800p. 100 | $23,900 |
| Maple (1 or 2 BR/1.5 BA/Den) | Type I declining refund | from $161,300p. 100 | $23,900 |
| Hickory (2 BR/2 BA/Balcony) | Type I declining refund | from $184,700p. 100 | $23,900 |
| Aspen (2 BR/2 BA/Balcony) | Type I declining refund | from $249,200p. 100 | $23,900 |
| Red Bud Patio Home (2 BR/1.5 BA) | Type I declining refund | from $189,600p. 100 | $24,400 |
| Catered Living - Cherry II (Studio) | Type I declining refund | from $71,000p. 99 | $23,900 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Type I declining refund | from $76,000p. 99 | $23,900 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Type I declining refund | from $81,000p. 99 | $23,900 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Type I declining refund | from $122,900p. 99 | $23,900 |
Type II – 90 Days Care · Type B (modified) (14 prices, $93,000 to $271,200)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Cherry (Studio) | Type II declining refund | from $93,000p. 100 | $45,900 |
| Chinquapin (1 BR/1 BA) | Type II declining refund | from $98,000p. 100 | $45,900 |
| Southern Magnolia (1 BR/1 BA) | Type II declining refund | from $103,000p. 100 | $45,900 |
| Chestnut (1 BR/1 BA) | Type II declining refund | from $137,500p. 100 | $45,900 |
| Birch (2 BR/1 or 1.5 BA) | Type II declining refund | from $144,900p. 100 | $45,900 |
| Willow (1 BR/1 or 1.5 BA) | Type II declining refund | from $150,800p. 100 | $45,900 |
| Maple (1 or 2 BR/1.5 BA/Den) | Type II declining refund | from $183,200p. 100 | $45,900 |
| Hickory (2 BR/2 BA/Balcony) | Type II declining refund | from $206,700p. 100 | $45,900 |
| Aspen (2 BR/2 BA/Balcony) | Type II declining refund | from $271,200p. 100 | $45,900 |
| Red Bud Patio Home (2 BR/1.5 BA) | Type II declining refund | from $211,600p. 100 | $46,300 |
| Catered Living - Cherry II (Studio) | Type II declining refund | from $93,000p. 99 | $45,900 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Type II declining refund | from $98,000p. 99 | $45,900 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Type II declining refund | from $103,000p. 99 | $45,900 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Type II declining refund | from $144,900p. 99 | $45,900 |
Type III – 50% Refund · Type C (fee for service) (14 prices, $106,600 to $373,900)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Cherry (Studio) | Type III 50% refund | from $106,600p. 100 | $35,800 |
| Chinquapin (1 BR/1 BA) | Type III 50% refund | from $114,000p. 100 | $35,800 |
| Southern Magnolia (1 BR/1 BA) | Type III 50% refund | from $121,500p. 100 | $35,800 |
| Chestnut (1 BR/1 BA) | Type III 50% refund | from $173,300p. 100 | $35,800 |
| Birch (2 BR/1 or 1.5 BA) | Type III 50% refund | from $184,400p. 100 | $35,800 |
| Willow (1 BR/1 or 1.5 BA) | Type III 50% refund | from $193,200p. 100 | $35,800 |
| Maple (1 or 2 BR/1.5 BA/Den) | Type III 50% refund | from $241,900p. 100 | $35,800 |
| Hickory (2 BR/2 BA/Balcony) | Type III 50% refund | from $277,100p. 100 | $35,800 |
| Aspen (2 BR/2 BA/Balcony) | Type III 50% refund | from $373,900p. 100 | $35,800 |
| Red Bud Patio Home (2 BR/1.5 BA) | Type III 50% refund | from $284,400p. 100 | $36,500 |
| Catered Living - Cherry II (Studio) | Type III 50% refund | from $106,600p. 99 | $35,800 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Type III 50% refund | from $114,000p. 99 | $35,800 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Type III 50% refund | from $121,500p. 99 | $35,800 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Type III 50% refund | from $184,400p. 99 | $35,800 |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Type I/II/III Occupancy Agreement · Type C (fee for service) (28 prices, $2,100 to $5,615)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Cherry (Studio) | Independent living | $2,507p. 100 | $909 |
| Chinquapin (1 BR/1 BA) | Independent living | $2,745p. 100 | $909 |
| Southern Magnolia (1 BR/1 BA) | Independent living | $2,968p. 100 | $909 |
| Chestnut (1 BR/1 BA) | Independent living | $3,565p. 100 | $909 |
| Birch (2 BR/1 or 1.5 BA) | Independent living | $3,679p. 100 | $909 |
| Willow (1 BR/1 or 1.5 BA) | Independent living | $3,992p. 100 | $909 |
| Maple (1 or 2 BR/1.5 BA/Den) | Independent living | $4,071p. 100 | $909 |
| Hickory (2 BR/2 BA/Balcony) | Independent living | $4,463p. 100 | $909 |
| Aspen (2 BR/2 BA/Balcony) | Independent living | $5,032p. 100 | $909 |
| Red Bud Patio Home (2 BR/1.5 BA) | Independent living | $2,100p. 100 | $445 |
| Catered Living - Cherry II (Studio) | Assisted living | $4,443p. 99 | $2,845 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Assisted living | $4,683p. 99 | $2,845 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Assisted living | $4,906p. 99 | $2,845 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Assisted living | $5,615p. 99 | $2,845 |
| Cherry (Studio) | Independent living | $2,507p. 100 | $909 |
| Chinquapin (1 BR/1 BA) | Independent living | $2,745p. 100 | $909 |
| Southern Magnolia (1 BR/1 BA) | Independent living | $2,968p. 100 | $909 |
| Chestnut (1 BR/1 BA) | Independent living | $3,565p. 100 | $909 |
| Birch (2 BR/1 or 1.5 BA) | Independent living | $3,679p. 100 | $909 |
| Willow (1 BR/1 or 1.5 BA) | Independent living | $3,992p. 100 | $909 |
| Maple (1 or 2 BR/1.5 BA/Den) | Independent living | $4,071p. 100 | $909 |
| Hickory (2 BR/2 BA/Balcony) | Independent living | $4,463p. 100 | $909 |
| Aspen (2 BR/2 BA/Balcony) | Independent living | $5,032p. 100 | $909 |
| Red Bud Patio Home (2 BR/1.5 BA) | Independent living | $2,100p. 100 | $445 |
| Catered Living - Cherry II (Studio) | Assisted living | $4,443p. 99 | $2,845 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Assisted living | $4,683p. 99 | $2,845 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Assisted living | $4,906p. 99 | $2,845 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Assisted living | $5,615p. 99 | $2,845 |
Residential Occupancy Rental Agreement · Rental (10 prices, $3,336 to $6,961)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Cherry (Studio) | Independent living | $3,336p. 100 | $1,121 |
| Chinquapin (1 BR/1 BA) | Independent living | $3,636p. 100 | $1,121 |
| Southern Magnolia (1 BR/1 BA) | Independent living | $3,967p. 100 | $1,121 |
| Chestnut (1 BR/1 BA) | Independent living | $4,816p. 100 | $1,121 |
| Birch (2 BR/1 or 1.5 BA) | Independent living | $5,024p. 100 | $1,121 |
| Willow (1 BR/1 or 1.5 BA) | Independent living | $5,559p. 100 | $1,121 |
| Catered Living - Cherry II (Studio) | Assisted living | $5,273p. 99 | $3,059 |
| Catered Living - Chinquapin I (1 BR/1 BA) | Assisted living | $5,573p. 99 | $3,059 |
| Catered Living - Southern Magnolia I or II (1 BR/1 BA) | Assisted living | $5,905p. 99 | $3,059 |
| Catered Living - Birch I or II (1 or 2 BR/1 or 1.5 BA) | Assisted living | $6,961p. 99 | $3,059 |
Per diem (Type I/III residents and outside admissions) · Type C (fee for service) (5 prices, $9,034 to $12,897)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Assisted Living Private Room | Assisted living | $9,034p. 101 | $4,928 |
| Assisted Living Deluxe Room | Assisted living | $9,855p. 101 | $4,928 |
| Memory Support Private Room | Memory care | $10,250p. 101 | Not listed |
| Health Care Semi-Private Room | Nursing care | $11,771p. 101 | Not listed |
| Health Care Private Room | Nursing care | $12,897p. 101 | Not listed |
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | Village (patio homes) | 4.74% | Percent onlyp. 6 |
| 2026 | Independent living | Apartments | 4.75% | Percent onlyp. 6 |
| 2026 | Assisted living | All units | 4.61% | Percent onlyp. 6 |
| 2026 | Memory care | All units | 4.66% | Percent onlyp. 6 |
| 2026 | Nursing care | All units | 4.93% | Percent onlyp. 6 |
| 2025 | Independent living | Village (patio homes) | 4.11% | Percent onlyp. 6 |
| 2025 | Independent living | Apartments | 3.9% | Percent onlyp. 6 |
| 2025 | Assisted living | All units | 4.03% | Percent onlyp. 6 |
| 2025 | Memory care | All units | 4.21% | Percent onlyp. 6 |
| 2025 | Nursing care | All units | 4.12% | Percent onlyp. 6 |
| 2024 | Independent living | Village (patio homes) | 4.9% | Percent onlyp. 6 |
| 2024 | Independent living | Apartments | 4.5% | Percent onlyp. 6 |
| 2024 | Assisted living | All units | 4.9% | Percent onlyp. 6 |
| 2024 | Memory care | All units | 5.5% | Percent onlyp. 6 |
| 2024 | Nursing care | All units | 5.9% | Percent onlyp. 6 |
| 2023 | Independent living | Village (patio homes) | 6.5% | Percent onlyp. 6 |
| 2023 | Independent living | Apartments | 6.5% | Percent onlyp. 6 |
| 2023 | Assisted living | All units | 6.5% | Percent onlyp. 6 |
| 2023 | Memory care | All units | 6.5% | Percent onlyp. 6 |
| 2023 | Nursing care | All units | 6.5% | Percent onlyp. 6 |
| 2022 | Independent living | Village (patio homes) | 4.9% | Percent onlyp. 6 |
| 2022 | Independent living | Apartments | 4.9% | Percent onlyp. 6 |
| 2022 | Assisted living | All units | 4.9% | Percent onlyp. 6 |
| 2022 | Memory care | All units | 4.9% | Percent onlyp. 6 |
| 2022 | Nursing care | All units | 4.9% | Percent onlyp. 6 |
| 2021 | Independent living | Village (patio homes) | 2.9% | Percent onlyp. 6 |
| 2021 | Independent living | Apartments | 2.9% | Percent onlyp. 6 |
| 2021 | Assisted living | All units | 3% | Percent onlyp. 6 |
| 2021 | Memory care | All units | 3% | Percent onlyp. 6 |
| 2021 | Nursing care | All units | 3% | Percent onlyp. 6 |
| 2020 | Independent living | Village (patio homes) | 3% | Percent onlyp. 6 |
| 2020 | Independent living | Apartments | 3% | Percent onlyp. 6 |
| 2020 | Assisted living | All units | 3.25% | Percent onlyp. 6 |
| 2020 | Memory care | All units | 3.25% | Percent onlyp. 6 |
| 2020 | Nursing care | All units | 3.25% | Percent onlyp. 6 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Type I declining refundp. 49
If the resident dies or withdraws in the first 50 months, the entrance fee is refunded less 2% per month of occupancy; nothing is refunded after 50 months. Any refund is paid after the residence is remarketed or within six months, whichever comes first, net of unpaid charges.
- Kept on move-in
- 0% of the fee
- Declines by
- 2% a month for 50 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- 6 months
- Paid
- When your unit is re-occupied or after 6 months, whichever is first
Type II declining refundp. 49
Same as Type I: the refund falls 2% per month and reaches zero after 50 months; paid on remarketing or within six months.
- Kept on move-in
- 0% of the fee
- Declines by
- 2% a month for 50 months
- Never less than
- Nothing: it can decline to zero
- Longest wait
- 6 months
- Paid
- When your unit is re-occupied or after 6 months, whichever is first
Type III 50% refundp. 50
On death or withdrawal 50% of the entrance fee is refunded, less any unpaid monthly or daily fees; paid on remarketing of the residence or within six months, whichever comes first.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Does not decline
- Never less than
- 50% of the fee
- Longest wait
- 6 months
- Paid
- When your unit is re-occupied or after 6 months, whichever is first
Refund calculator
Estimated refund: $0 (0% of the fee)
When it is paid: when your unit is re-occupied or after 6 months, whichever is first. 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.
- Summit Square is part of Sunnyside Presbyterian Home (Sunnyside, King's Grant and Summit Square campuses).
- Balance sheet: Summit Square division of Sunnyside Presbyterian Home (audited supplementary schedule).
- Ratios: Sunnyside Presbyterian Home (consolidated: Sunnyside, King's Grant, Summit Square).
Days cash on hand
419 days FY2025p. 142
- Its lenders’ minimum: 150 daysp. 129
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
4.87x FY2025p. 142
- Its lenders’ minimum: 1.20xp. 129
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresDays cash and coverage are for Sunnyside Presbyterian Home's three campuses together (Sunnyside, King's Grant, Summit Square), not Summit Square alone; Summit Square's own column holds $242,738 cash and $3,938,591 investments (p141). Days cash 419 is the audit note figure (p124); the covenant schedule (Exhibit F, p159) shows 418. Coverage 4.87x is from that management covenant schedule (p157), not the audit.
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 | FY2025p. 142 | FY2024p. 157 | FY2023p. 157 | FY2022p. 157 |
|---|---|---|---|---|
| Days cash on hand | 419 days | 409 days | 453 days | 420 days |
| Debt service coverage | 4.87x | 3.84x | 3.95x | 3.09x |
| Operating margin | 6% | Not disclosed | Not disclosed | Not disclosed |
| Total assets | $23.4 million | Not disclosed | Not disclosed | Not disclosed |
| Total liabilities | $14.8 million | Not disclosed | Not disclosed | Not disclosed |
| Long-term debt | $5.8 million | Not disclosed | Not disclosed | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $4.5 million | Not disclosed | Not disclosed | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $567,190 | Not disclosed | Not disclosed | Not disclosed |
| Net position (assets minus liabilities) | $8.5 million | Not disclosed | Not disclosed | Not disclosed |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 142
Occupancy
The 2026 filing does not report occupancy.
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
- 4 of 5
- Health inspections
- 3 of 5
- Staffing
- 5 of 5
- Quality measures
- 4 of 5
Fines recorded by CMS: 1 totalling $50,021. Health citations since 2023-10-16: 20. SUMMIT SQUARE on Care Compare
In brief
Summit Square is a continuing care community in a five-story building on a 7.3-acre campus in Waynesboro, one of three campuses of the nonprofit Sunnyside Presbyterian Home. It offers fee-for-service contracts with a declining or 50% refund, a modified contract with 90 lifetime days of care, and rentals. 2026 entrance fees range from $71,000 (Type I studio) to $373,900 (Type III Aspen two-bedroom), with monthly fees of $2,100 to $5,032 for independent living. The parent corporation reported 419 days cash on hand and 4.87x debt service coverage for 2025, against lender minimums of 150 days and 1.20x.PDF
Nearest communities in Virginia
- The Colonnades
Charlottesville · 21 miles away
Entrance fee: $34,550 to $292,775
- Bridgewater Retirement Community
Bridgewater · 22 miles away
Entrance fee: $75,606 to $1,906,566
- Sunnyside
Harrisonburg · 23 miles away
Entrance fee: $68,600 to $809,200
Sources
- Summit Square — Continuing Care Provider Disclosure Statement (April 30, 2026)Virginia State Corporation Commission, Bureau of Insurance · filed 2026, fiscal 2025 finances · 175 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.