CARAVEL ACADEMY INC

EIN: 222602110 501(c)(3) Education

BEAR, DE

Total Revenue
$13,546,152
Total Expenses
$12,574,849
Total Assets
$20,298,101
Net Assets
$17,957,168
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
DE
Phone
3028348938
Tax Period
2024-09-01 to 2025-08-31

CARAVEL ACADEMY INC, founded in 1979, is a mid-sized nonprofit in the Education sector that reported $13.5M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $12.6M left a modest 7% surplus.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $41,450
Program Service Revenue $13,306,865
Investment Income $197,837
Other Revenue $0
TOTAL REVENUE $13,546,152

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,470,002
Fundraising Expenses $0
Program Expenses $11,974,487
Other Expenses $4,104,847
TOTAL EXPENSES $12,574,849

Year-over-Year Comparison

2024 2023 Change
Revenue $13,546,152 $12,334,669 +0.1%
Expenses $12,574,849 $11,678,662 +0.1%
Net Income $971,303 $656,007 +0.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
5
Employees
277
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$220,792
Total Directors
6
$86,459
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
George G Lamey Head of School 40.00
Officer
$134,333 $0 $134,333
Carol P Manubay FinOfficer/SecT 50.00
Officer Director
$86,459 $0 $86,459
Dorothy M Peoples President 10.00
Officer Director
$0 $0 $0
Robert C Peoples Vice President 10.00
Officer Director
$0 $0 $0
Harrison B Peoples Vice President 10.00
Officer Director
$0 $0 $0
Paul S Manubay Vice President 10.00
Officer Director
$0 $0 $0
W Thomas Peoples Vice President 10.00
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $13,546,152 $12,574,849 $20,298,101 $971,303
2024 $12,334,669 $11,678,662 $17,470,507 $656,007
2023 $11,340,547 $10,820,072 $15,888,758 $520,475
2022 $10,540,566 $10,523,627 $14,425,391 $16,939
2021 $11,726,062 $9,838,068 $15,134,520 $1,887,994
2020 $9,885,781 $10,157,612 $15,275,543 $-271,831
2019 $10,147,667 $10,215,992 $14,575,988 $-68,325
2018 $9,771,594 $9,869,327 $13,371,854 $-97,733
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