CIGAR ASSOC OF AMERICA INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1937

Legal Domicile

Principal Officer

Scott Pearce

Phone

2022238204

Tax Period

2023-01-01 to 2023-12-31

CIGAR ASSOC OF AMERICA INC, founded in 1937, is a community nonprofit that reported $5.0M in total revenue in fiscal year 2023.

Mission

Our vision is to ensure a strong, vibrant, and growing cigar industry. We achieve this vision through our threefold mission: (1) Championing member-driven advocacy to defend and protect the industry from harmful regulations and legislation. (2) Raising awareness of the positive economic impact and charitable contributions of our members and the industry. (3) Promoting policies that foster growth and deliver value for our members and the industry.

Program Service Accomplishments

Program 1

Expenses: $2,168,581 Revenue: $0

State Affairs Program Activities: CAA actively monitors and responds to tax and regulatory developments affecting the cigar industry at state and local levels. As the industry's advocate, CAA...

State Affairs Program Activities: CAA actively monitors and responds to tax and regulatory developments affecting the cigar industry at state and local levels. As the industry's advocate, CAA represents its members' views on legislation, taxation, regulation, and other government issues. Member companies are promptly informed of any proposed legislation that could negatively impact the cigar industry. When necessary, CAA takes action to prevent harmful regulations or pursues litigation in specific states to protect its members' best interests.

Program 2

Expenses: $380,386 Revenue: $0

Federal Affairs Program Activities: CAA monitors and responds to federal tax and regulatory developments affecting the cigar industry. As a dedicated advocate, CAA represents its members' interests by conveying the industry's perspectives on regulation, taxation, and legislative matters to lawmakers and relevant government agencies. Members are promptly informed of any proposed federal legislation that may negatively impact the cigar industry. When necessary, CAA takes action to halt unfavorable regulations or pursue litigation to protect the industry's interests.

Program 3

Expenses: $668,620 Revenue: $0

FDA Litigation, State Litigation, Other Litigation, and Industry Regulation Monitoring and Response: Most of these expenses relate to ongoing litigation with the U.S. Food and Drug Administration...

FDA Litigation, State Litigation, Other Litigation, and Industry Regulation Monitoring and Response: Most of these expenses relate to ongoing litigation with the U.S. Food and Drug Administration (FDA). In 2023, the association continued its legal and regulatory efforts with the FDA on behalf of its members. These legal services included engaging in discussions, educating, and informing the FDA about the cigar industry, explaining how our products are processed and manufactured, highlighting the unique challenges of regulating the industry, and emphasizing the impact that FDA regulations could have on our members and the industry as a whole. Other expenses in this category address litigation with local and state governments, focusing on tax issues, legislation, and sales bans that affect the cigar industry.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $376,000

Program Service Revenue $4,591,451

Investment Income $32,875

Other Revenue $0

TOTAL REVENUE $5,000,326

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,128,354

Fundraising Expenses $0

Program Expenses $3,594,826

Other Expenses $4,040,143

TOTAL EXPENSES $5,168,497

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,000,326	$4,894,571	+0.0%
Expenses	$5,168,497	$4,849,424	+0.1%
Net Income	$-168,171	$45,147	-4.7%

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

Governance

Voting Members

Independent Members

Employees

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

$446,628

Total Directors

Key Employees

$221,974

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
David M Ozgo	President	40	Officer	$375,165	$71,463	$446,628
Daniel Cotter	Vice President of Finance & Operations	40	Highest	$187,318	$52,486	$239,804
Brian Fojtik	Senior Vice President, Government Affairs	40	Key Emp	$199,654	$22,320	$221,974
Mudiaga Kpohraror	Director of State Government Relations	40	Highest	$150,192	$14,125	$164,317
Javier Estades	Chairman of the Board of Directors	0.25	Officer Director	$0	$0	$0
Rob Wilkey	Vice Chair, Board of Directors	0.20	Officer Director	$0	$0	$0
Henry Roemer	Treasurer of the Board of Directors	0.30	Officer Director	$0	$0	$0
Chris Howard	Member, Board of Directors	0.1	Director	$0	$0	$0
Dylan Austin	Member, Board of Directors	0.1	Director	$0	$0	$0
Regis Broersma	Member, Board of Directors	0.1	Director	$0	$0	$0
Ralph Brown	Member, Board of Directors	0.1	Director	$0	$0	$0
Christopher Casey	Member, Board of Directors	0.10	Director	$0	$0	$0
Terry Gallagher Jr	Member, Board of Directors	0.10	Director	$0	$0	$0
Michael Gold	Member, Board of Directors	0.10	Director	$0	$0	$0
Diane Kalambokas	Member, Board of Directors	0.10	Director	$0	$0	$0
Arthur Kemper	Member, Board of Directors	0.10	Director	$0	$0	$0
Neil Kiely	Member, Board of Directors	0.10	Director	$0	$0	$0
Millie Lukose	Member, Board of Directors	0.10	Director	$0	$0	$0
Owen McKeon	Member, Board of Directors	0.10	Director	$0	$0	$0
Drew Newman	Member, Board of Directors	0.10	Director	$0	$0	$0
Eric Newman	Member, Board of Directors	0.10	Director	$0	$0	$0
Robert Newman	Member, Board of Directors	0.10	Director	$0	$0	$0
Nicholas Perdomo	Member, Board of Directors	0.10	Director	$0	$0	$0
Emily Rodriguez	Member, Board of Directors	0.10	Director	$0	$0	$0
Patrick Rooney	Member, Board of Directors	0.10	Director	$0	$0	$0
Rhondetta Walton	Member, Board of Directors	0.10	Director	$0	$0	$0
Arthur Zaretsky	Member, Board of Directors	0.10	Director	$0	$0	$0
Enri Zarka	Member, Board of Directors	0.10	Director	$0	$0	$0
Kellie Newton	Secretary of the Board of Directors	0.25	Officer	$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
2024	No data	No data	No data	No data
2023	$5,000,326	$5,168,497	$2,256,871	$-168,171
2022	$4,894,571	$4,849,424	$2,528,499	$45,147
2021	$4,753,114	$4,482,983	$2,226,147	$270,131
2020	$4,982,069	$5,097,098	$2,050,738	$-115,029