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The Summit and Westminster Canterbury of Lynchburg 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 Summit | Westminster Canterbury of Lynchburg |
|---|---|---|
| Location | Lynchburg, VA | Lynchburg, VA |
| Filing used | 2026 statement, fiscal 2025 financesPDF | 2026 statement, fiscal 2025 financesPDF |
| Contract types | Type C (fee for service) | Type A (life care), Type B (modified) |
| Entrance fee, one person | $133,000 to $891,000p. 12 | $61,376 to $560,727p. 31p. 26 |
| Monthly fee, independent living | $3,127 to $4,764p. 12 | $1,200 to $6,484p. 31p. 26 |
| Refund plans | Declining Refundable; 90% Refundablep. 47p. 55 | Traditional Plan; Guaranteed 50% Plan; Guaranteed 90% Planp. 52p. 53 |
| Highest guaranteed refund | 90% of the feep. 47p. 55 | 90% of the feep. 52p. 53 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 47p. 55 | When your unit is re-occupied and the new resident has paidp. 52p. 53 |
| Days cash on hand | 266 days (FY2025, interim)p. 66Figures for LifeSpire of Virginia Obligated Group. | 554 days (FY2025, interim)p. 162 |
| Its lenders' minimum | At least 120 daysp. 20 | At least 120 daysp. 162 |
| Debt service coverage | 2.31x (FY2025, interim)p. 66Figures for LifeSpire of Virginia Obligated Group. | 2.57x (FY2025, interim)p. 162 |
| Independent living occupancy | 96.2% (2025)p. 19 | 97.33% (2025)p. 162 |
| Net position | −$7.9 million (FY2025)p. 66 | $39.1 million (FY2025)p. 132 |
| Whose finances | Virginia Baptist Homes, Inc. dba LifeSpire of Virginia and Subsidiaries (consolidated); ratios for LifeSpire of Virginia Obligated Groupp. 66 | Westminster Canterbury of Lynchburg, Inc. (consolidated); ratios for Westminster Canterbury of Lynchburg, Inc.p. 132 |
| Audit opinion | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 66 | Unmodified (clean) opinion, CliftonLarsonAllen LLPp. 132 |
| Nursing care, CMS rating | No CMS record linked | 5 of 5 (CMS overall) |
What care costs later, in each contract
The Summit
Type C (fee for service): Residents moving to The Summit Assisted Living pay its full published daily rate, with priority access. The Summit does not provide nursing care; a cooperation agreement with the adjacent, unaffiliated Summit Health and Rehab Center gives residents priority admission, at that facility’s own charges. Each independent living resident also has a one-time Long-Term Care Benefit of $550 a month, capped at $6,600, on moving to assisted living or a nursing facility.p. 45
Westminster Canterbury of Lynchburg
Type A (life care): Unlimited assisted living, memory support and nursing care while paying the Monthly Services Fee of your residence plus two extra meals a day; the agreement also mentions an unspecified health care charge in memory support and nursing and an extra fee for an assisted living suite.p. 42
Type B (modified): Assisted living at the per diem rate less 5% and nursing care at the per diem rate less 15%; no care days are included. The document calls this Type C; it is mapped to B because care is billed at a stated discount.p. 10