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The Woodlands and Woodleigh Chase compared
Two communities in Fairfax, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | The Woodlands | Woodleigh Chase |
|---|---|---|
| Location | Fairfax, VA | Fairfax, VA |
| Filing used | 2023 statement, fiscal 2021 financesPDF | 2024 statement, fiscal 2023 financesPDF |
| Contract types | Type B (modified) | Type C (fee for service) |
| Entrance fee, one person | $346,000 to $765,000p. 123 | $479,000 to $1,242,000p. 104 |
| Monthly fee, independent living | $5,031 to $7,190p. 124 | $3,603 to $5,189p. 104 |
| Refund plans | 90% Refundable; 70% Refundablep. 23p. 77 | 80% Refundablep. 26 |
| Highest guaranteed refund | 90% of the feep. 23p. 77 | 80% of the feep. 26 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 23p. 77 | In turn, from a fund of new residents' entrance feesp. 26 |
| Days cash on hand | 15 days (FY2021, calculated)p. 135Computed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund. | Not disclosed in the 2024 filing |
| Its lenders' minimum | Not disclosed in the 2023 filing | Not disclosed in the 2024 filing |
| Debt service coverage | Not disclosed in the 2023 filingComputed by us: $195,401 of unrestricted cash (cash $359,528 less $164,127 restricted for deposits) over FY2021 cash operating expenses. Counting the escrowed deposits it would be about 27 days. The community holds no investments or reserve fund. | Not disclosed in the 2024 filing |
| Independent living occupancy | 83% (2021)p. 149 | Not disclosed in the 2024 filing |
| Net position | $6.2 million (FY2021)p. 132 | $203.6 million (FY2023)p. 164 |
| Whose finances | The Woodlands Retirement Community, LLCp. 132 | Woodleigh Chase, Inc. and ELP Fairfax, LLC (landowner), combined in the Exhibit 9 summaryp. 164 |
| Audit opinion | Unmodified (clean) opinion, Foote and Lloyd, Certified Public Accountantsp. 132 | Unmodified (clean) opinion, PricewaterhouseCoopers LLP (Woodleigh Chase, Inc.); RSM US LLP (ELP Fairfax, LLC)p. 164 |
| Nursing care, CMS rating | No CMS record linked | No CMS record linked |
What care costs later, in each contract
The Woodlands
Type B (modified): Independent living only. Both the entrance-fee and rental agreements include a total of 5 days of respite care at The Gardens assisted living for the life of the agreement, plus priority admission there; any other assisted living is paid by the resident, and no nursing care is provided.p. 18
Woodleigh Chase
Type C (fee for service): Care is paid at the Continuing Care neighborhood's own monthly packages and daily rates; no days are included and no discount is stated. Assisted living, memory care and nursing are not built yet (Continuing Care scheduled March 2028 to January 2030); until then residents needing that care go to a local facility under priority transfer agreements.p. 104