Caravel Academy Inc

Analysis

Caravel Academy Inc is a registered charity in United States, based in Bear, DE. It received its IRS tax-exemption ruling in May 1985, 41 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Caravel Academy Inc reported income of $11.3m and spending of $10.8m, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $10.1m to $11.3m (+12%), an average of +2.8% a year. The sharpest change came in the year to August 2021, when income rose by 19%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Caravel Academy Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within DE. Charities of a similar size with the same main cause include Island Institute ($11.3m), Montgomery County Norristown Public Library ($11.3m) and Keiller Leadership Academy ($11.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $185k (1.7% of expenses). Other salaries and wages came to $6.0m. At year end it held assets of $15.9m against liabilities of $2.0m, net assets of $13.9m. It reported 279 employees.