The Culpeper
12425 Village Loop, Culpeper, Virginia 22701
- Operator:
- Culpeper Baptist Retirement Community, Inc. (subsidiary of Virginia Baptist Homes, Inc., dba LifeSpire of Virginia)
- Ownership:
- Nonprofit
- Affiliation:
- Baptist General Association of Virginia
- Opened:
- Not disclosed in the 2026 filing
Land and improvements are owned by LifeSpire; Culpeper Baptist Retirement Community, Inc. is a LifeSpire subsidiary and a member of the obligated group, jointly liable for obligated group debt.
- Type A (life care)
- Type B (modified)
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
Refund plans offered
- Standard (4% administrative charge, 2% per month for 50 months)Can decline to nothing
- Direct admission to Assisted Living (refund terms not disclosed)Terms not disclosed in the 2026 filing
Days cash on hand
Read the note on this figure
Days cash and debt service coverage are the LifeSpire of Virginia obligated group's interim calculations at 12/31/2025 (p22), not The Culpeper's own.
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 A (life care): Moving to assisted living or nursing leaves your monthly fee essentially unchanged.
- Type B (modified): A set number of care days is included, or care is charged at a stated discount.
How the contract types compare
Type B (modified)The filing calls it Fee for Service; we class contracts by how care is priced (our definitions).
Fee-for-service residents pay the published daily rate less 10% for assisted living, memory care or nursing, and stop paying the independent living monthly fee after a permanent move.p. 48
- Assisted living
- Published Assisted Living daily rate less 10% (2026 direct-admission daily fees: $236 studio to $271 two-bedroom single; Level II +$22/day, Level III +$43/day).
- Nursing care
- Published Health Care Center daily rate less 10% after permanent transfer; nursing daily rates are not disclosed in the statement.
- Discount on care
- 10%
Type A (life care)
Life-Care residents keep paying their independent living monthly fee in assisted living, memory care and the Health Care Center, plus the cost of two extra meals a day.p. 73
- Assisted living
- Same Monthly Fee as the independent living residence at the time of transfer, plus charges for two additional meals per day.
- Nursing care
- Same Monthly Fee as the residence (non-Medicare stay), plus two additional meals per day and ancillary charges.
| Independent living | 50 |
|---|---|
| Assisted living | 54 |
| Memory care | 32 |
| Nursing care | 47 |
Entrance fees
One-person prices as the filing lists them, by contract. A second person usually pays the extra amount shown.
Fee for Service Residency Agreement · Type B (modified) (6 prices, $184,000 to $472,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Keswick I - VI cottage | Standard (4% administrative charge, 2% per month for 50 months) | $184,000 to $293,000p. 13 | $40,000 |
| Waverly (Two-Bedroom Duplex) | Standard (4% administrative charge, 2% per month for 50 months) | $319,000p. 13 | $40,000 |
| Conway | Standard (4% administrative charge, 2% per month for 50 months) | $366,000p. 13 | $40,000 |
| Hughes | Standard (4% administrative charge, 2% per month for 50 months) | $391,000p. 13 | $40,000 |
| Rapidan | Standard (4% administrative charge, 2% per month for 50 months) | $433,000p. 13 | $40,000 |
| Rivanna | Standard (4% administrative charge, 2% per month for 50 months) | $472,000p. 13 | $40,000 |
Life-Care Agreement · Type A (life care) (4 prices, $439,000 to $565,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Conway | Standard (4% administrative charge, 2% per month for 50 months) | $439,000p. 14 | $47,000 |
| Hughes | Standard (4% administrative charge, 2% per month for 50 months) | $468,000p. 14 | $47,000 |
| Rapidan | Standard (4% administrative charge, 2% per month for 50 months) | $519,000p. 14 | $47,000 |
| Rivanna | Standard (4% administrative charge, 2% per month for 50 months) | $565,000p. 14 | $47,000 |
Direct admission to Assisted Living · Type C (fee for service) (6 prices, $82,000 to $112,000)
| Unit | Refund plan | Price, one person | Second person |
|---|---|---|---|
| Assisted Living - Brookneal Studio | Direct admission to Assisted Living (refund terms not disclosed) | $82,000p. 14 | Not listed |
| Assisted Living - Caroline (1 bedroom) | Direct admission to Assisted Living (refund terms not disclosed) | $86,000p. 14 | Not listed |
| Assisted Living - Davenport (1 bedroom) | Direct admission to Assisted Living (refund terms not disclosed) | $89,000p. 14 | $17,000 |
| Assisted Living - Essex (1 bedroom) | Direct admission to Assisted Living (refund terms not disclosed) | $89,000p. 14 | $17,000 |
| Assisted Living - Jefferson (2 bedrooms) | Direct admission to Assisted Living (refund terms not disclosed) | $95,000p. 14 | $17,000 |
| Memory Support Private Suite | Direct admission to Assisted Living (refund terms not disclosed) | $112,000p. 14 | Not listed |
Monthly fees
What residents pay each month, by contract and level of care. A second person adds the amount shown.
Fee for Service Residency Agreement · Type B (modified) (6 prices, $3,068 to $5,032)
| Unit | Level of care | Per month, one person | Second person |
|---|---|---|---|
| Keswick I - VI cottage | Independent living | $3,068 to $4,364p. 13 | $1,752 |
| Waverly (Two-Bedroom Duplex) | Independent living | $3,834p. 13 | $1,752 |
| Conway | Independent living | $3,883p. 13 | $1,752 |
| Hughes | Independent living | $4,171p. 13 | $1,752 |
| Rapidan | Independent living | $4,600p. 13 | $1,752 |
| Rivanna | Independent living | $5,032p. 13 | $1,752 |
Life-Care Agreement · Type A (life care) (4 prices, $4,270 to $5,535)
Fee increases, year by year
| Year | Level of care | Unit | Increase | Monthly fee, before and after |
|---|---|---|---|---|
| 2026 | Independent living | All units | 3.75% | Percent onlyp. 15 |
| 2026 | Assisted living | All units | 4.75% | Percent onlyp. 15 |
| 2026 | Memory care | All units | 4.75% | Percent onlyp. 15 |
| 2026 | Nursing care | All units | 4.75% | Percent onlyp. 15 |
| 2025 | Independent living | All units | 3.95% | Percent onlyp. 15 |
| 2025 | Assisted living | All units | 3.95% | Percent onlyp. 15 |
| 2025 | Memory care | All units | 3.95% | Percent onlyp. 15 |
| 2025 | Nursing care | All units | 3.95% | Percent onlyp. 15 |
| 2024 | Independent living | All units | 4.45% | Percent onlyp. 15 |
| 2024 | Assisted living | All units | 5.45% | Percent onlyp. 15 |
| 2024 | Memory care | All units | 5.45% | Percent onlyp. 15 |
| 2024 | Nursing care | All units | 5.45% | Percent onlyp. 15 |
| 2023 | Independent living | All units | 8% | Percent onlyp. 15 |
| 2023 | Assisted living | All units | 8.5% | Percent onlyp. 15 |
| 2023 | Memory care | All units | 8.5% | Percent onlyp. 15 |
| 2023 | Nursing care | All units | 10% | Percent onlyp. 15 |
| 2022 | Independent living | All units | 5% | Percent onlyp. 15 |
| 2022 | Assisted living | All units | 5% | Percent onlyp. 15 |
| 2022 | Memory care | All units | 5% | Percent onlyp. 15 |
| 2022 | Nursing care | All units | 5% | Percent onlyp. 15 |
Refunds
What comes back from the entrance fee when you leave or die, and when it is paid.
Standard (4% administrative charge, 2% per month for 50 months)p. 56
A 4% administrative charge is kept, and the rest of the entrance fee amortizes at 2% per month for 50 months, after which nothing is refunded. Any refund is paid only after the residence is sold to a new resident who has paid the full entrance fee.
- Kept on move-in
- 4% of the fee
- Declines by
- 2% a month for 50 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
Direct admission to Assisted Living (refund terms not disclosed)p. 14
The statement lists entrance fees for direct admission to assisted living and memory support but does not say whether or how they are refunded.
- Kept on move-in
- Not disclosed in the 2026 filing
- Declines by
- Not disclosed in the 2026 filing
- Never less than
- Not disclosed in the 2026 filing
- Longest wait
- No limit stated
- Paid
- Not disclosed in the 2026 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.
- The Culpeper is part of LifeSpire of Virginia Obligated Group (LSV, The Culpeper, Lakewood, The Chesapeake, The Glebe, The Summit).
- Balance sheet: Culpeper Baptist Retirement Community, Inc. (column of the LifeSpire consolidating balance sheet).
- Ratios: LifeSpire of Virginia Obligated Group.
- Ratios are interim figures, unaudited.
Days cash on hand
266 days FY2025p. 132
- Its lenders’ minimum: 120 daysp. 22
- Industry median: 321 days Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Debt service coverage
2.31x FY2025p. 132
- Its lenders’ minimum: 1.20xp. 22
- Industry median: 1.80x Ziegler median for fiscal 2022, 132 bond-financed not-for-profit entrance-fee CCRCs
Read with these figuresDays cash and debt service coverage are the LifeSpire of Virginia obligated group's interim calculations at 12/31/2025 (p22), not The Culpeper's own.
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. 132 | FY2024p. 26 |
|---|---|---|
| Days cash on hand | 266 days | Not disclosed |
| Debt service coverage | 2.31x | Not disclosed |
| Operating margin | -5.8% | -10.6% |
| Total assets | $60.0 million | $62.4 million |
| Total liabilities | $82.6 million | $82.2 million |
| Long-term debt | $52.2 million | Not disclosed |
| Entrance fees not yet earned (deferred revenue) | $12.2 million | Not disclosed |
| Refunds owed to residents (refundable fee liability) | $338,640 | Not disclosed |
| Net position (assets minus liabilities) | −$22.6 million | −$19.8 million |
Auditor: CliftonLarsonAllen LLP. Opinion: Unmodified (clean) opinionp. 132
Occupancy
| Level of care | 2025p. 21 |
|---|---|
| Independent living | 94% |
| Assisted living | 96.3% |
| Memory care | 93.8% |
| Nursing care | 93.6% |
Events the filing reports
Dated facts the disclosure statement states, such as bond issues, missed covenants or changes of ownership.
- 2025Credit rating LifeSpire's Fitch rating (first obtained in 2020) was reaffirmed in 2025 at BBB with a stable outlook.p. 18
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
- 3 of 5
Fines recorded by CMS: 0. Health citations since 2023-10-16: 10. THE CULPEPER on Care Compare
In brief
The Culpeper, in Culpeper, Virginia, is a LifeSpire of Virginia community affiliated with the Baptist General Association of Virginia, with 50 independent living residences and cottages, 54 assisted living residences, 32 memory support apartments and 47 skilled nursing beds. 2026 entrance fees run $184,000-$472,000 under a fee-for-service agreement (10% off daily care rates) and $439,000-$565,000 under a Life-Care agreement for four cottage types, all with a 4% charge and 2% monthly amortization over 50 months. The Culpeper itself reported negative net assets of $22.6 million at December 31, 2025, while the LifeSpire obligated group reported interim covenant results of 266 days cash and 2.31x debt service coverage against 120 days and 1.20x.PDF
Nearest communities in Virginia
- Westminster-Canterbury of the Blue Ridge
Charlottesville · 37 miles away
Entrance fee: $226,829 to $1,410,651
- The Colonnades
Charlottesville · 38 miles away
Entrance fee: $34,550 to $292,775
- Westminster at Lake Ridge
Lake Ridge · 44 miles away
Entrance fee: Not disclosed in the 2025 filing
Sources
- The Culpeper — Disclosure Statement (April 2026)Virginia State Corporation Commission, Bureau of Insurance · filed 2026, fiscal 2025 finances · 141 pages · retrieved 2026-10-15
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