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Avery Point and Cedarfield compared
Two communities in Richmond, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Avery Point | Cedarfield |
|---|---|---|
| Location | Richmond, VA | Richmond, VA |
| Filing used | 2024 statement, fiscal 2023 financesPDF | 2025 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service) | Type A (life care), Type C (fee for service) |
| Entrance fee, one person | $201,000 to $854,000p. 132 | $183,600 to $908,300p. 18p. 17 |
| Monthly fee, independent living | $2,295 to $5,205p. 132 | $2,400 to $8,240p. 18p. 17 |
| Refund plans | 80% Refundable; Declining Balancep. 26p. 59 | Declining Balance Refund; 50% Refund; 70% Refund; 80% Refund; 90% Refundp. 32p. 33 |
| Highest guaranteed refund | 80% of the feep. 26p. 59 | 90% of the feep. 32p. 33 |
| When a refund is paid | In turn, from a fund of new residents' entrance fees; Within a fixed number of daysp. 26p. 59 | When your unit is re-occupied and the new resident has paidp. 32p. 33 |
| Days cash on hand | 17 days (FY2023, calculated)p. 141Calculated by us from FY2023 statements in which Avery Point, Inc. operated the community only from July 1, 2023, so expenses cover about half a year; a full year of expenses would roughly halve this figure. | 385 days (FY2025, calculated)p. 125Figures for Pinnacle Living (Virginia United Methodist Homes, Inc.). Computed by us: Pinnacle Living unrestricted cash $2.97M plus investments $65.18M over operating expenses less depreciation. Excludes $16.2M of assets whose use is limited (bond funds) and the $51.4M of investments held by affiliate Hermitage Capital & Reserve Corp. The disclosure reports no days-cash or coverage ratio. |
| Its lenders' minimum | Not disclosed in the 2024 filing | Not disclosed in the 2025 filing |
| Debt service coverage | Not disclosed in the 2024 filingCalculated by us from FY2023 statements in which Avery Point, Inc. operated the community only from July 1, 2023, so expenses cover about half a year; a full year of expenses would roughly halve this figure. | Not disclosed in the 2025 filingFigures for Pinnacle Living (Virginia United Methodist Homes, Inc.). Computed by us: Pinnacle Living unrestricted cash $2.97M plus investments $65.18M over operating expenses less depreciation. Excludes $16.2M of assets whose use is limited (bond funds) and the $51.4M of investments held by affiliate Hermitage Capital & Reserve Corp. The disclosure reports no days-cash or coverage ratio. |
| Independent living occupancy | 99% (2023)p. 213 | 91% (2025)p. 142 |
| Net position | −$2.3 million (FY2023)p. 141 | $66.9 million (FY2025)p. 123 |
| Whose finances | Avery Point, Inc.p. 141 | Pinnacle Living (Virginia United Methodist Homes, Inc.), excluding WindsorMeade and Hermitage Capital & Reserve Corp.; ratios for Pinnacle Living (Virginia United Methodist Homes, Inc.)p. 123 |
| Audit opinion | Unmodified (clean) opinion, PricewaterhouseCoopers LLPp. 141 | Unmodified (clean) opinion, Brown, Edwards & Company, L.L.P.p. 123 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
Avery Point
Type C (fee for service): Assisted living, memory care and nursing are planned (up to 120 assisted living and 60 nursing units) but not yet built; until they open, Avery Point arranges care through transfer agreements with local facilities. No care rates are published in this statement.p. 19
Cedarfield
Type A (life care): Independent living and all health services (assisted living, memory support and nursing) are provided at a constant Monthly Service Fee regardless of level of care; the fee itself can be adjusted.p. 14
Type C (fee for service): Only independent living is covered by the Monthly Service Fee; assisted living, memory support and nursing are paid at the then-current posted rates (set out in the agreement's Appendix B, not reproduced in the fee schedule). Preferred Choice residents get priority for health services after Lifecare residents and ahead of non-residents.p. 14