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Masonic Home of Virginia and Westminster Canterbury Richmond compared
Two Virginia communities about 6 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Masonic Home of Virginia | Westminster Canterbury Richmond |
|---|---|---|
| Location | Richmond, VA | Richmond, VA |
| Filing used | 2023 statement, fiscal 2022 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified), Type C (fee for service) | Type A (life care), Type B (modified) |
| Entrance fee, one person | $36,000 to $279,900p. 79 | $135,485 to $1,074,558p. 98p. 89 |
| Monthly fee, independent living | $2,355 to $5,623p. 79 | $2,406 to $12,317p. 98p. 89 |
| Refund plans | Village / B-Wing Apartment pro-rata refund; Adult Home entrance fee (6-month proration); C/D-Wing Suite fee prorationp. 68p. 10 | Standard declining refund (Type A/B); 50% guaranteed refund option; 70% guaranteed refund option; 90% guaranteed refund option; Assisted Living declining refundp. 13 |
| Highest guaranteed refund | 0% of the feep. 68p. 10 | 90% of the feep. 13 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 68p. 10 | When your unit is re-occupied and the new resident has paidp. 13 |
| Days cash on hand | 1295 days (FY2022, calculated)p. 140 | 1310 days (FY2025, interim)p. 23FY2025 ratios are management-reported for the Obligated Group, which excludes the Foundation and the Development Corporation. FY2025 investment income included $36.8 million of realized gains from a change of investment advisors. The days-cash figure is consistent with Westminster-Canterbury Corporation's own balance sheet: cash $57.4 million plus investments $206.3 million at September 30, 2025 (p151); it does not rely on the Foundation's $94.4 million. |
| Its lenders' minimum | Not disclosed in the 2023 filing | Not disclosed in the 2026 filing |
| Debt service coverage | Not disclosed in the 2023 filing | 7.48x (FY2025, interim)p. 23FY2025 ratios are management-reported for the Obligated Group, which excludes the Foundation and the Development Corporation. FY2025 investment income included $36.8 million of realized gains from a change of investment advisors. The days-cash figure is consistent with Westminster-Canterbury Corporation's own balance sheet: cash $57.4 million plus investments $206.3 million at September 30, 2025 (p151); it does not rely on the Foundation's $94.4 million. |
| Independent living occupancy | 69% (2022)p. 191 | 87.9% (2025)p. 20 |
| Net position | $67.3 million (FY2022)p. 140 | $202.5 million (FY2025)p. 151 |
| Whose finances | Masonic Home of Virginiap. 140 | Westminster-Canterbury Corporation (column of the Westminster-Canterbury Management Corporation consolidating balance sheet); ratios for Obligated Groupp. 151 |
| Audit opinion | Unmodified (clean) opinion, Keiterp. 140 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 151 |
| Nursing care, CMS rating | No CMS record linked | 5 of 5 (CMS overall) |
What care costs later, in each contract
Masonic Home of Virginia
Type B (modified): Independent living residents may apply to the Adult Home or Care Center; admission requires Board approval and a new contract. 30 days of care a year are included, then standard rates.p. 12
Type C (fee for service): Adult Home paying residents pay a monthly fee that rises with their level of care and pay the established Care Center rate for nursing; they pay their own medical, physician and medication costs.p. 8
Westminster Canterbury Richmond
Type A (life care): Moving to assisted living or the Health Center does not add to the monthly fee. A resident who chooses a deluxe nursing room pays the additional daily rate.p. 12
Type B (modified): Lower entrance and monthly fees than Type A, but assisted living and nursing are billed per day at a 10% discount from the current daily rate, plus ancillaries.p. 51