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Lakewood and Cedarfield compared
Two Virginia communities about 3 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Lakewood | Cedarfield |
|---|---|---|
| Location | Richmond, VA | Richmond, VA |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2025 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care), Type B (modified) | Type A (life care), Type C (fee for service) |
| Entrance fee, one person | $78,000 to $1,410,000p. 14p. 15 | $183,600 to $908,300p. 18p. 17 |
| Monthly fee, independent living | $3,091 to $9,349p. 14p. 15 | $2,400 to $8,240p. 18p. 17 |
| Refund plans | Standard; 90% Refundablep. 60p. 61 | Declining Balance Refund; 50% Refund; 70% Refund; 80% Refund; 90% Refundp. 32p. 33 |
| Highest guaranteed refund | 90% of the feep. 60p. 61 | 90% of the feep. 32p. 33 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 60p. 61 | When your unit is re-occupied and the new resident has paidp. 32p. 33 |
| Days cash on hand | 266 days (FY2025, interim)p. 98Figures for LifeSpire of Virginia Obligated Group. | 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 | At least 120 daysp. 24 | Not disclosed in the 2025 filing |
| Debt service coverage | 2.31x (FY2025, interim)p. 98Figures for LifeSpire of Virginia Obligated Group. | 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 | 95.8% (2025)p. 23 | 91% (2025)p. 142 |
| Net position | −$7.9 million (FY2025)p. 98 | $66.9 million (FY2025)p. 123 |
| Whose finances | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 98 | 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, CliftonLarsonAllen LLPp. 98 | Unmodified (clean) opinion, Brown, Edwards & Company, L.L.P.p. 123 |
| Nursing care, CMS rating | 3 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
Lakewood
Type A (life care): Life-Care residents keep paying their independent-living monthly fee, plus two meals a day, in assisted living or the Health Care Center; the couples rate still applies when one or both are in care. Residents get priority admittance when the Health Care Center is full.p. 16
Type B (modified): Fee for Service residents pay the published daily rate for assisted living, memory support and nursing, less 10%. Residents transferred out for lack of space get priority admittance when a bed becomes available.p. 46
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