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The Chesapeake and Lake Prince Woods compared
Two Virginia communities about 23 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | The Chesapeake | Lake Prince Woods |
|---|---|---|
| Location | Newport News, VA | Suffolk, VA |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care), Type B (modified) | Type C (fee for service) |
| Entrance fee, one person | $149,000 to $855,000p. 15p. 17 | $70,500 to $792,750p. 103 |
| Monthly fee, independent living | $3,520 to $6,751p. 15p. 17 | $1,692 to $3,137p. 103 |
| Refund plans | Standard Refundable; 90% Refundablep. 89p. 65 | Fully Declining; Minimum 50% Refundablep. 23p. 37 |
| Highest guaranteed refund | 90% of the feep. 89p. 65 | 50% of the feep. 23p. 37 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 89p. 65 | When your unit is re-occupied and the new resident has paidp. 23p. 37 |
| Days cash on hand | 266 days (FY2025, interim)p. 100Figures for LifeSpire of Virginia Obligated Group. | 340 days (FY2025)p. 86Figures for EveryAge Obligated Group. Days cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86). |
| Its lenders' minimum | At least 120 daysp. 25 | At least 200 daysp. 101 |
| Debt service coverage | 2.31x (FY2025, interim)p. 100Figures for LifeSpire of Virginia Obligated Group. | 3.84x (FY2025)p. 86Figures for EveryAge Obligated Group. Days cash and coverage are the EveryAge obligated group's (p101), not Lake Prince Center's alone: its own balance sheet shows $2,020 of cash and $1,659,510 of assets limited as to use at 9/30/2025 (p86). |
| Independent living occupancy | 96.8% (2025)p. 24 | 88.02% (2025)p. 13 |
| Net position | −$7.9 million (FY2025)p. 100 | −$19.1 million (FY2025)p. 86 |
| Whose finances | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 100 | Lake Prince Center, Inc. (including Lake Prince At Home, LLC), column of the EveryAge combining statements; ratios for EveryAge Obligated Groupp. 86 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 100 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 86 |
| Nursing care, CMS rating | 3 of 5 (CMS overall) | 5 of 5 (CMS overall) |
What care costs later, in each contract
The Chesapeake
Type A (life care): Life-Care residents keep paying their independent-living monthly fee in assisted living, memory care or the Health Care Center, plus two extra meals a day and ancillary charges. If the Health Care Center is full, residents get priority admittance when a bed opens.p. 82
Type B (modified): Fee for Service residents pay the published daily rate for assisted living, memory support and the Health Care Center, less 10%. If the Health Care Center is full, residents get priority admittance when a bed opens.p. 15
Lake Prince Woods
Type C (fee for service): Fee-for-service: assisted living, memory care and nursing are available 'at fees current at such time as said services are needed and according to available space.' Any residency-fee refund due is escrowed to pay the resident's healthcare costs.p. 28