Caravel Academy Inc
- Assets
- $15.1m
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 304
- Location
- Bear, DE
- Founding
- 05/1985
- Data as of
- 08/2021
- EIN
- 22-2602110
Organization Overview
Caravel Academy Inc is located in Bear, DE. The organization was established in 1985. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 08/2021, Caravel Academy Inc employed 304 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caravel Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Caravel Academy Inc generated $11.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $9.8m during the year ending 08/2021. While expenses have increased by 0.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CARAVEL ACADEMY, A PRIVATE COLLEGE PREPARATORY SCHOOL, UPHOLDS THE VALUES OF HONESTY, PERSONAL INTEGRITY AND GOOD SPORTSMANSHIP. CARAVEL ACADEMY IS A COEDUCATIONAL NON-PROFIT SCHOOL OF APPROXIMATELY 1200 PUPILS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE SCHOOL EDUCATION. GRADES PN-12. 1116 STUDENTS IN 2020-21 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald C Keister Jr Headmaster | Officer | 40 | $76,625 |
Carol P Manubay Finofficer/sect | OfficerTrustee | 50 | $57,540 |
Robert C Peoples Vice President | OfficerTrustee | 10 | $0 |
Harrison B Peoples Vice President | OfficerTrustee | 10 | $0 |
Dorothy M Peoples President | OfficerTrustee | 10 | $0 |
W Thomas Peoples Vice President | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,491,344 |
| All other contributions, gifts, grants, and similar amounts not included above | $204,655 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,695,999 |
| Total Program Service Revenue | $10,023,874 |
| Investment income | $6,189 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,726,062 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,841 |
| Compensation of current officers, directors, key employees. | $59,266 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,423,478 |
| Pension plan accruals and contributions | $93,917 |
| Other employee benefits | $687,375 |
| Payroll taxes | $431,278 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,534 |
| Fees for services: Accounting | $11,760 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,519 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,594 |
| Office expenses | $60,829 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,325,843 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $660,485 |
| Insurance | $105,012 |
| All other expenses | $43,714 |
| Total functional expenses | $9,838,068 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,881,789 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $31,219 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $644,660 |
| Net Land, buildings, and equipment | $5,172,331 |
| Investments—publicly traded securities | $3,379,331 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,134,520 |
| Accounts payable and accrued expenses | $251,769 |
| Grants payable | $0 |
| Deferred revenue | $1,647,444 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,899,213 |
| Net assets without donor restrictions | $13,157,787 |
| Net assets with donor restrictions | $77,520 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $15,134,520 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Caravel Academy Inc has recieved totaling $1,577.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $502 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $75 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Executive Education Academy Charter School Allentown, PA | $63,584,076 | $23,169,797 |
Foundation Academy Charter School Trenton, NJ | $16,120,573 | $21,345,321 |
Tatnall School Inc Wilmington, DE | $48,687,568 | $19,526,911 |
Elisabeth Morrow School Englewood, NJ | $43,835,854 | $20,290,882 |
Yeshiva Ktana Of Passaic Passaic, NJ | $33,764,196 | $20,538,079 |
Franklintown Charter High School Philadelphia, PA | $47,616,708 | $24,090,071 |
Yeshivat Heatid Inc Teaneck, NJ | $17,160,980 | $19,921,065 |
Peck School Morristown, NJ | $71,516,691 | $18,101,005 |
Mastery Charter School-Pickett Campus Philadelphia, PA | $12,425,498 | $19,474,866 |
Philadelphia Academy Charter School Philadelphia, PA | $22,346,982 | $21,291,315 |
St Paul's School For Girls Inc Brooklandville, MD | $0 | $15,914,099 |
Yeshiva Of Bergen County Inc Paramus, NJ | $23,355,062 | $17,409,656 |