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Greenspring Village and Westminster at Lake Ridge compared
Two Virginia communities about 7 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Greenspring Village | Westminster at Lake Ridge |
|---|---|---|
| Location | Springfield, VA | Lake Ridge, VA |
| Filing used | 2024 statement, fiscal 2023 financesPDF | 2025 statement, fiscal 2024 financesPDF |
| Contract types | Type C (fee for service) | Type B (modified) |
| Entrance fee, one person | $144,000 to $1,280,000p. 101 | Not disclosed in the 2025 filing |
| Monthly fee, independent living | $2,660 to $5,430p. 101 | $2,281 to $8,142p. 114 |
| Refund plans | 90% Refund Amountp. 24 | 90% Refundable; 50% Refundable; 0% Refundablep. 22 |
| Highest guaranteed refund | 90% of the feep. 24 | 90% of the feep. 22 |
| When a refund is paid | In turn, from a fund of new residents' entrance feesp. 24 | When your unit is re-occupied and the new resident has paidp. 22 |
| Days cash on hand | 1246 days (FY2023, interim)p. 112Figures for Greenspring Village, Inc. 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. | 205 days (FY2024)p. 121 |
| Its lenders' minimum | At least 120 daysp. 132 | At least 150 daysp. 121 |
| Debt service coverage | Not disclosed in the 2024 filingFigures for Greenspring Village, Inc. 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. | 1.88x (FY2024)p. 121 |
| Independent living occupancy | 95.8% (2023)p. 155 | 97% (2024)p. 29 |
| Net position | $18.1 million (FY2023)p. 112 | −$34.1 million (FY2024)p. 126 |
| Whose finances | Greenspring Village, Inc.p. 112 | Westminster Presbyterian Retirement Community, Incorporatedp. 126 |
| Audit opinion | Unmodified (clean) opinion, PricewaterhouseCoopers LLPp. 112 | Unmodified (clean) opinion, Baker Tilly US, LLPp. 126 |
| Nursing care, CMS rating | 1 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Greenspring Village
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
Westminster at Lake Ridge
Type B (modified): 5 days per temporary stay are included in the monthly fee, at most 15 a year: the contract covers the first five days of temporary Health Center care that begins more than 30 days after the resident's last Health Center day, with a limit of 15 such days in any twelve-month period. After that, residents pay the full per diem rate on top of the monthly fee until they give up their independent living residence. Independent living residents have priority access to the Health Center.p. 85