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Kendal at Lexington and The Summit compared
Two Virginia communities about 32 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Kendal at Lexington | The Summit |
|---|---|---|
| Location | Lexington, VA | Lynchburg, VA |
| Filing used | 2025 statement, fiscal 2024 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care), Type B (modified) | Type C (fee for service) |
| Entrance fee, one person | $197,900 to $1,578,710p. 18p. 20 | $133,000 to $891,000p. 12 |
| Monthly fee, independent living | $4,061 to $6,146p. 18 | $3,127 to $4,764p. 12 |
| Refund plans | 2% Declining Refund Plan; 50% Refund Plan; 90% Refund Planp. 51p. 52 | Declining Refundable; 90% Refundablep. 47p. 55 |
| Highest guaranteed refund | 90% of the feep. 51p. 52 | 90% of the feep. 47p. 55 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 51p. 52 | When your unit is re-occupied and the new resident has paidp. 47p. 55 |
| Days cash on hand | 1047 days (FY2024)p. 111 | 266 days (FY2025, interim)p. 66Figures for LifeSpire of Virginia Obligated Group. |
| Its lenders' minimum | At least 120 daysp. 23 | At least 120 daysp. 20 |
| Debt service coverage | Not disclosed in the 2025 filing | 2.31x (FY2025, interim)p. 66Figures for LifeSpire of Virginia Obligated Group. |
| Independent living occupancy | 94.2% (2024)p. 171 | 96.2% (2025)p. 19 |
| Net position | $23.8 million (FY2024)p. 111 | −$7.9 million (FY2025)p. 66 |
| Whose finances | Lexington Retirement Community, Inc.p. 111 | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 66 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 111 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 66 |
| Nursing care, CMS rating | 4 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
Kendal at Lexington
Type A (life care): The extensive (Lifecare) contract covers unlimited assisted living and nursing care for the resident's monthly fee, plus a charge for the two extra daily meals.p. 15
Type B (modified): The modified contract includes unlimited assisted living and 60 lifetime days of nursing care, then the per diem rate. It costs $35,000 less per person in entry fee and $230 less per person monthly than the extensive contract (declining-refund option), or $47,250 / $66,500 less per person with the 50% / 90% refund options.p. 15
The Summit
Type C (fee for service): Residents moving to The Summit Assisted Living pay its full published daily rate, with priority access. The Summit does not provide nursing care; a cooperation agreement with the adjacent, unaffiliated Summit Health and Rehab Center gives residents priority admission, at that facility’s own charges. Each independent living resident also has a one-time Long-Term Care Benefit of $550 a month, capped at $6,600, on moving to assisted living or a nursing facility.p. 45