Caravel Academy Inc
Caravel Academy: Strong Programs, High Admin Costs
EIN: 222602110 · Bear, DE · NTEE: B200 · Updated: 2026-04-04
Is Caravel Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Caravel Academy Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Caravel Academy Inc
Caravel Academy Inc (EIN: 222602110) is a nonprofit organization based in Bear, DE, classified under NTEE code B200. The organization reported total revenue of $13.5M and total assets of $20.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Caravel Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Caravel Academy Inc is a large nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11.3M |
| Total Expenses | $10.8M |
| Surplus / Deficit | +$520K |
| Total Assets | $15.9M |
| Total Liabilities | $2.0M |
| Net Assets | $13.9M |
| Operating Margin | 4.6% |
| Debt-to-Asset Ratio | 12.6% |
| Months of Reserves | 17.6 months |
Financial Health Grade: A
In 2023, Caravel Academy Inc reported a surplus of $520K with revenue exceeding expenses, holds 17.6 months of operating reserves (strong position), has a debt-to-asset ratio of 12.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Caravel Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.6% | +2.8% | +10.1% |
| 2022 | -10.1% | +7.0% | -4.7% |
| 2021 | +18.6% | -3.1% | -0.9% |
| 2020 | -2.6% | -0.6% | +4.8% |
| 2019 | +3.8% | +3.5% | +9.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Caravel Academy Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Caravel Academy Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $520K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.6%.
Executive Compensation Analysis
Executive compensation appears reasonable given the organization's size and revenue, with no individual compensation exceeding $200,000 in recent filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Caravel Academy Inc's IRS 990 filings:
- Administrative expenses, while not excessive, consistently represent a notable portion of total expenses, averaging around 15% over the past five years.
- The organization's liabilities have shown a slight increase over the past few years, from $1.7M in 2022 to $1.9M in 2023.
Strengths
The following positive indicators were identified for Caravel Academy Inc:
- Consistent revenue generation, with over $10 million annually, indicates stable financial support.
- Strong asset base, consistently above $13 million, provides financial stability.
- The organization has maintained a positive net income in most recent years, demonstrating sound financial management.
Frequently Asked Questions about Caravel Academy Inc
Is Caravel Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Caravel Academy Inc (EIN: 222602110) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Caravel Academy Inc spend its money?
Caravel Academy Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Caravel Academy Inc tax-deductible?
Caravel Academy Inc is registered as a tax-exempt nonprofit (EIN: 222602110). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Caravel Academy Inc do?
Caravel Academy Inc is a nonprofit organization in the Education sector, located in Bear, Delaware. It is classified under NTEE code B200.
How much revenue does Caravel Academy Inc have?
Caravel Academy Inc reported total revenue of $13,546,152. Based on 13 IRS 990 filings on record.
What are Caravel Academy Inc's total assets?
Caravel Academy Inc holds total assets of $20,298,101 as reported in IRS 990 filings.
Where is Caravel Academy Inc located?
Caravel Academy Inc is based in Bear, Delaware.
What is Caravel Academy Inc's EIN?
Caravel Academy Inc's Employer Identification Number (EIN) is 222602110. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Caravel Academy Inc?
Caravel Academy Inc is classified under NTEE code B200 (Education).
Is Caravel Academy Inc a registered 501(c)(3)?
Yes, Caravel Academy Inc is recognized as a tax-exempt organization by the IRS. EIN: 222602110.
Does Caravel Academy Inc file IRS Form 990?
Yes, Caravel Academy Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202308.
What was Caravel Academy Inc's revenue in 2023?
In the 202308 filing period, Caravel Academy Inc reported total revenue of $11,340,547, total expenses of $10,820,072, and net assets of $15,888,758.
Is Caravel Academy Inc's revenue growing or declining?
Caravel Academy Inc's revenue is growing. Revenue went from $10,540,566 (202208) to $11,340,547 (202308), a +7.6% change. Based on 13 filings on record.
What is Caravel Academy Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Caravel Academy Inc covers tax period 202308. It shows revenue of $11,340,547, expenses of $10,820,072, total assets of $15,888,758, and liabilities of $1,997,308.
How much does Caravel Academy Inc spend on programs vs administration?
Based on IRS 990 analysis, Caravel Academy Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Caravel Academy Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Caravel Academy Inc appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 3 strengths noted.
What are the red flags for Caravel Academy Inc?
The following concerns were identified: Administrative expenses, while not excessive, consistently represent a notable portion of total expenses, averaging around 15% over the past five years.. The organization's liabilities have shown a slight increase over the past few years, from $1.7M in 2022 to $1.9M in 2023.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Caravel Academy Inc's strengths?
Positive indicators for Caravel Academy Inc include: Consistent revenue generation, with over $10 million annually, indicates stable financial support.. Strong asset base, consistently above $13 million, provides financial stability.. The organization has maintained a positive net income in most recent years, demonstrating sound financial management.. These findings are derived from AI analysis of the organization's financial filings.
How does Caravel Academy Inc compensate executives?
Executive compensation appears reasonable given the organization's size and revenue, with no individual compensation exceeding $200,000 in recent filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does Caravel Academy manage to maintain consistent revenue despite fluctuations in the broader economic environment?
Caravel Academy's consistent revenue, often exceeding $10 million annually, suggests a stable funding model likely driven by tuition fees, strong donor relations, or a combination of both, indicating resilience against economic shifts.
What specific programs or initiatives contribute most to the reported program expenses, and how are their impacts measured?
While the filings show significant program expenses (e.g., $10.8 million in 2023), the specific breakdown of these programs and their impact metrics are not detailed in the provided financial data, requiring further investigation into their operational reports.
Filing History
IRS 990 filing history for Caravel Academy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Caravel Academy Inc's revenue has grown by 30.1%, moving from $8.7M to $11.3M. Total assets increased by 16.6% over the same period, from $13.6M to $15.9M. Total functional expenses rose by 34%, from $8.1M to $10.8M. In its most recent filing year (2023), Caravel Academy Inc reported a surplus of $520K, with revenue exceeding expenses. The organization holds $2.0M in liabilities against $15.9M in assets (debt-to-asset ratio: 12.6%), resulting in net assets of $13.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11.3M | $10.8M | $15.9M | $2.0M | — | — |
| 2022 | $10.5M | $10.5M | $14.4M | $1.7M | — | View 990 |
| 2021 | $11.7M | $9.8M | $15.1M | $1.9M | — | View 990 |
| 2020 | $9.9M | $10.2M | $15.3M | $3.5M | — | View 990 |
| 2019 | $10.1M | $10.2M | $14.6M | $3.6M | — | View 990 |
| 2018 | $9.8M | $9.9M | $13.4M | $2.9M | — | View 990 |
| 2017 | $9.9M | $9.6M | $13.7M | $2.8M | — | View 990 |
| 2016 | $10.0M | $9.8M | $13.2M | $2.8M | — | View 990 |
| 2015 | $10.0M | $9.5M | $12.7M | $2.7M | — | View 990 |
| 2014 | $9.9M | $9.6M | $13.1M | $3.2M | — | View 990 |
| 2013 | $9.5M | $9.3M | $13.2M | $3.1M | — | View 990 |
| 2012 | $9.0M | $8.7M | $13.3M | $2.9M | — | View 990 |
| 2011 | $8.7M | $8.1M | $13.6M | $2.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11.3M, expenses of $10.8M, and assets of $15.9M (revenue +7.6% year-over-year).
- 2022: Revenue of $10.5M, expenses of $10.5M, and assets of $14.4M (revenue -10.1% year-over-year).
- 2021: Revenue of $11.7M, expenses of $9.8M, and assets of $15.1M (revenue +18.6% year-over-year).
- 2020: Revenue of $9.9M, expenses of $10.2M, and assets of $15.3M (revenue -2.6% year-over-year).
- 2019: Revenue of $10.1M, expenses of $10.2M, and assets of $14.6M (revenue +3.8% year-over-year).
- 2018: Revenue of $9.8M, expenses of $9.9M, and assets of $13.4M (revenue -1.7% year-over-year).
- 2017: Revenue of $9.9M, expenses of $9.6M, and assets of $13.7M (revenue -0.3% year-over-year).
- 2016: Revenue of $10.0M, expenses of $9.8M, and assets of $13.2M (revenue -0.6% year-over-year).
- 2015: Revenue of $10.0M, expenses of $9.5M, and assets of $12.7M (revenue +1.6% year-over-year).
- 2014: Revenue of $9.9M, expenses of $9.6M, and assets of $13.1M (revenue +3.9% year-over-year).
- 2013: Revenue of $9.5M, expenses of $9.3M, and assets of $13.2M (revenue +5.8% year-over-year).
- 2012: Revenue of $9.0M, expenses of $8.7M, and assets of $13.3M (revenue +3.0% year-over-year).
- 2011: Revenue of $8.7M, expenses of $8.1M, and assets of $13.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Caravel Academy Inc:
Data Sources and Methodology
This transparency report for Caravel Academy Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.