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The Glebe and Friendship Retirement Community compared
Two Virginia communities about 7 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 Glebe | Friendship Retirement Community |
|---|---|---|
| Location | Daleville, VA | Roanoke, VA |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2025 statement, fiscal 2025 financesPDF |
| Contract types | Type A (life care), Type B (modified) | Rental |
| Entrance fee, one person | $165,000 to $875,000p. 14 | None: rental |
| Monthly fee, independent living | $3,726 to $6,954p. 14 | $1,037 to $2,382p. 87 |
| Refund plans | Standard Refundable; 90% Refundablep. 86 | None: rental contract |
| Highest guaranteed refund | 90% of the feep. 86 | None: rental contract |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 86 | None: rental contract |
| Days cash on hand | 266 days (FY2025, interim)p. 98Figures for LifeSpire of Virginia Obligated Group. | Not disclosed in the 2025 filingFigures for Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative). |
| Its lenders' minimum | At least 120 daysp. 23 | 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 Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative). |
| Independent living occupancy | 97.5% (2025)p. 22 | 91.7% (2025)p. 15 |
| Net position | −$7.9 million (FY2025)p. 98 | $21.5 million (FY2025)p. 152 |
| Whose finances | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 98 | Friendship Apartment Village Corp (Exhibit E summary; includes Friendship RL/Richfield Living per its narrative)p. 152 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 98 | Unmodified (clean) opinion, Brown Edwards (audit of Friendship Foundation and Subsidiaries, consolidated)p. 152 |
| Nursing care, CMS rating | 5 of 5 (CMS overall) | No CMS record linked |
What care costs later, in each contract
The Glebe
Type A (life care): Life-Care residents keep paying their independent-living monthly fee in assisted living, memory support or the Health Care Center, plus two extra meals a day and ancillary charges. If a bed is not available, residents get priority admittance when a room opens.p. 78
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 a bed is not available, residents get priority admittance when a room opens.p. 45
Friendship Retirement Community
Rental: No care is included or discounted: monthly fees cover housing and services plus a visiting-nurse response and assessment program only. Assisted living and nursing are run by legally separate affiliates and paid for separately (p15, p19).p. 19