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Summit Square and Westminster-Canterbury of the Blue Ridge compared
Two Virginia communities about 25 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Summit Square | Westminster-Canterbury of the Blue Ridge |
|---|---|---|
| Location | Waynesboro, VA | Charlottesville, VA |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type B (modified), Type C (fee for service), Rental | Type A (life care) |
| Entrance fee, one person | $71,000 to $373,900p. 100 | $226,829 to $1,410,651p. 129 |
| Monthly fee, independent living | $2,100 to $5,559p. 100 | $4,298 to $12,156p. 129 |
| Refund plans | Type I declining refund; Type II declining refund; Type III 50% refundp. 49p. 50 | Standard Option; Refundable Option (50%)p. 34 |
| Highest guaranteed refund | 50% of the feep. 49p. 50 | 45% of the feep. 34 |
| When a refund is paid | When your unit is re-occupied or after 6 months, whichever is firstp. 49p. 50 | When your unit is re-occupied and the new resident has paidp. 34 |
| Days cash on hand | 419 days (FY2025)p. 142Figures for Sunnyside Presbyterian Home (consolidated: Sunnyside, King's Grant, Summit Square). Days cash and coverage are for Sunnyside Presbyterian Home's three campuses together (Sunnyside, King's Grant, Summit Square), not Summit Square alone; Summit Square's own column holds $242,738 cash and $3,938,591 investments (p141). Days cash 419 is the audit note figure (p124); the covenant schedule (Exhibit F, p159) shows 418. Coverage 4.87x is from that management covenant schedule (p157), not the audit. | 1381 days (FY2025, interim)p. 149The 1,381 days matches cash ($11.2M) plus all $120.1M of investments, which include $15.7M purpose-restricted and $2.1M perpetually restricted donor funds (p19, p76); cash and unrestricted investments alone ($113.6M) come to about 1,190 days. |
| Its lenders' minimum | At least 150 daysp. 129 | Not disclosed in the 2026 filing |
| Debt service coverage | 4.87x (FY2025)p. 142Figures for Sunnyside Presbyterian Home (consolidated: Sunnyside, King's Grant, Summit Square). Days cash and coverage are for Sunnyside Presbyterian Home's three campuses together (Sunnyside, King's Grant, Summit Square), not Summit Square alone; Summit Square's own column holds $242,738 cash and $3,938,591 investments (p141). Days cash 419 is the audit note figure (p124); the covenant schedule (Exhibit F, p159) shows 418. Coverage 4.87x is from that management covenant schedule (p157), not the audit. | 6.90x (FY2025, interim)p. 149The 1,381 days matches cash ($11.2M) plus all $120.1M of investments, which include $15.7M purpose-restricted and $2.1M perpetually restricted donor funds (p19, p76); cash and unrestricted investments alone ($113.6M) come to about 1,190 days. |
| Independent living occupancy | Not disclosed in the 2026 filing | 96.4% (2025)p. 150 |
| Net position | $8.5 million (FY2025)p. 142 | $68.6 million (FY2025)p. 77 |
| Whose finances | Summit Square division of Sunnyside Presbyterian Home (audited supplementary schedule); ratios for Sunnyside Presbyterian Home (consolidated: Sunnyside, King's Grant, Summit Square)p. 142 | Westminster-Canterbury of the Blue Ridge and Foundation (consolidated); ratios for Westminster-Canterbury of the Blue Ridge and Foundation (consolidated; both are the bond Obligated Group)p. 77 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 142 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 77 |
| Nursing care, CMS rating | 4 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
Summit Square
Type C (fee for service): Residents have priority admission to assisted living and the health care center but pay the daily rate; the apartment's monthly fee stops while they are there (except Medicare short-term skilled stays). Type III's 50% refund may be used toward care.p. 4
Type B (modified): Ninety days of assisted living and/or health care, cumulative over the resident's lifetime and non-transferable, during which the resident keeps paying the regular monthly fee; after that the full per diem applies.p. 4
Rental: Rental residents pay the applicable daily fee for assisted living or health care.p. 5
Westminster-Canterbury of the Blue Ridge
Type A (life care): The Monthly Fee does not change on a temporary or permanent move to Catered Living (assisted living), Vista memory support or the Health Center; ancillary medical charges are extra. If care must be provided at an outside facility, costs above WCBR's Monthly Fee are the resident's. For comparison, the Health Center per diem charged to non-lifecare patients rose 15% in FY2024, 10% in FY2025 and 7% twice in FY2026 (p141).p. 36