CANNABIS ASSOCIATION OF NEW YORK (EIN 833986277) - Form 990 Financial Analysis & Trantor Score

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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

2019

Legal Domicile

Principal Officer

DAMIEN CORNWELL

Phone

6073231436

Tax Period

2023-01-01 to 2023-12-31

CANNABIS ASSOCIATION OF NEW YORK, founded in 2019, is a small nonprofit that reported $316K in total revenue in fiscal year 2023. Revenue fell 31% from the prior year — a significant decline worth monitoring. Expenses of $425K exceeded revenue, resulting in a 35% operating deficit.

Mission

THE CORPORATION (CANY) OPERATES AS A TRADE ASSOCIATION COMPRISED OF MEMBERS WHO ARE NEW YORK LICENSED GROWERS, PROCESSORS AND OTHER BUSINESSES ENGAGED IN THE CANNABIS INDUSTRY IN NEW YORK STATE. CANY DEVELOPS PROGRAMS AND SERVICES THAT: (I) REPRESENT THE INTERESTS OF ITS MEMBERS IN GOVERNMENTAL AFFAIRS. (II) IMPROVE THE EDUCATION AND PROFESSIONAL ABILITIES OF ITS MEMBERS. (III) FOSTER HIGH STANDARDS OF ETHICAL BUSINESS CONDUCT AMONG ITS MEMBERS. (IV) INCREASE PUBLIC KNOWLEDGE AND VALUE OF RESPONSIBLE CANNABIS FARMING, PROCESSING AND MANUFACTURING PRACTICES.

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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 $315,505

Program Service Revenue $34

Investment Income $1

Other Revenue $0

TOTAL REVENUE $315,540

Expense Breakdown

Grants Paid $0

Salaries & Benefits $176,239

Fundraising Expenses $0

Other Expenses $248,977

TOTAL EXPENSES $425,216

Year-over-Year Comparison

	2023	2022	Change
Revenue	$315,540	$457,461	-0.3%
Expenses	$425,216	$363,483	+0.2%
Net Income	$-109,676	$93,978	-2.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRITTANY CARBONE	TRUSTEE	25.00	Director	$0	$0	$0
DAN DOLGIN	TRUSTEE	5.00	Director	$0	$0	$0
FRANKLIN HENDERSON	TRUSTEE	5.00	Director	$0	$0	$0
DAMIEN CORNWELL	TRUSTEE	15.00	Director	$0	$0	$0
ALLAN GANDELMAN	PRESIDENT	25.00	Officer	$0	$0	$0
ANDREW ROSNER	VICE PRESIDENT	25.00	Officer	$0	$0	$0
OWEN MARTINETTI	TREASURER	5.00	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	$315,540	$425,216	$10,714	$-109,676
2022	$457,461	$363,483	$159,228	$93,978

CANNABIS ASSOCIATION OF NEW YORK