Home › Compare
Warwick Forest and Patriots Colony compared
Two Virginia communities about 18 miles apart, compared from their own disclosure statements. Tinted rows are where they differ; each page tab opens the filing at the figure.
| Figure | Warwick Forest | Patriots Colony |
|---|---|---|
| Location | Newport News, VA | Williamsburg, VA |
| Filing used | 2025 statement, fiscal 2024 financesPDF | 2025 statement, fiscal 2024 financesPDF |
| Contract types | Type B (modified), Type C (fee for service) | Type B (modified), Type C (fee for service) |
| Entrance fee, one person | $148,328 to $377,659p. 127 | $177,629 to $912,827p. 43p. 42 |
| Monthly fee, independent living | $3,388 to $4,486p. 127 | $3,242 to $7,920p. 42 |
| Refund plans | BASE Plan (Declining Refund); Plan 90; Plan 50p. 45p. 46 | Plan 0 (Declining Refund); Plan 50; Plan 95p. 69p. 70 |
| Highest guaranteed refund | 90% of the feep. 45p. 46 | 95% of the feep. 69p. 70 |
| When a refund is paid | When your unit is re-occupied and the new resident has paidp. 45p. 46 | When your unit is re-occupied and the new resident has paidp. 69p. 70 |
| Days cash on hand | 609 days (FY2024, calculated)p. 40Figures for Warwick Forest division. Computed by us from Riverside Health's divisional schedule (p176-178): Warwick Forest's $26.0M of investments and $1K cash over cash operating expenses. The same column shows a net $14.9M due to Riverside affiliates; net of that, cash and investments cover about 260 days. | 987 days (FY2024, calculated)p. 204Figures for Patriots Colony, Inc. Computed from Patriots Colony's column in Riverside Health's audited consolidating schedules: cash $14K + investments $73.5M over cash operating expenses ($31.8M less $4.7M depreciation). Excludes $25.6M due from affiliates. The disclosure narrative (p29) cites an $85M investment balance, which the schedule does not show. |
| Its lenders' minimum | Not disclosed in the 2025 filing | Not disclosed in the 2025 filing |
| Debt service coverage | Not disclosed in the 2025 filingFigures for Warwick Forest division. Computed by us from Riverside Health's divisional schedule (p176-178): Warwick Forest's $26.0M of investments and $1K cash over cash operating expenses. The same column shows a net $14.9M due to Riverside affiliates; net of that, cash and investments cover about 260 days. | Not disclosed in the 2025 filingFigures for Patriots Colony, Inc. Computed from Patriots Colony's column in Riverside Health's audited consolidating schedules: cash $14K + investments $73.5M over cash operating expenses ($31.8M less $4.7M depreciation). Excludes $25.6M due from affiliates. The disclosure narrative (p29) cites an $85M investment balance, which the schedule does not show. |
| Independent living occupancy | 93% (2024)p. 40 | 97% (2024)p. 40 |
| Net position | $14.6 million (FY2024)p. 40 | $94.5 million (FY2024)p. 204 |
| Whose finances | Warwick Forest (division of Riverside Retirement Services, Inc.; supplementary consolidating schedule in Riverside Health's audit); ratios for Warwick Forest divisionp. 40 | Patriots Colony, Inc. (column in Riverside Health consolidating schedules); ratios for Patriots Colony, Inc.p. 204 |
| Audit opinion | Unmodified (clean) opinion, KPMG LLPp. 40 | Unmodified (clean) opinion, KPMG LLPp. 204 |
| Nursing care, CMS rating | 2 of 5 (CMS overall) | 4 of 5 (CMS overall) |
What care costs later, in each contract
Warwick Forest
Type B (modified): LifeCare residents get 10 free days of assisted living or nursing over the life of the contract, then pay a flat monthly Health Services Resident Rate ($4,282 in 2025) that the agreement calls a discounted rate; during temporary stays they also keep paying their apartment's monthly fee.p. 50
Type C (fee for service): LifePlan residents have priority access to assisted living and the nursing center but pay the published daily market rates. The market rates are not stated in the document.p. 89
Patriots Colony
Type B (modified): LifeCare residents get up to 10 temporary days of assisted living or nursing care at no charge over the life of the agreement. On a permanent move to the Health Center they give up their residence and pay a single published Resident Health Care Rate ($4,520 or $5,179 a month in 2025, by fee choice) instead of public rates; the contract lets that rate change.p. 92
Type C (fee for service): Residence and Services residents pay the public rate for any temporary or permanent Health Center stay, with guaranteed priority over non-residents.p. 26