Full text of VAN CLEMENS & CO. INCORPORATED's X-17A-5 filed 2021-02-26 (period 2020-12-31). Broker-dealer annual report from SEC EDGAR — readable, searchable, and available as markdown for AI agents.
{0}------------------------------------------------ (A Wholly Owned Subsidiary of Hart Securities Corporation) Minneapolis, Minnesota ### Financial Statements and Additional Information {1}------------------------------------------------ (A Wholly Owned Subsidiary of Hart Securities Corporation) #### Balance Sheets December 31, 2020 and 2019 | Assets | 2020 | 2019 | | | |---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|-----------------------------------------------------------------|--|--| | Cash<br>Deposit with clearing organization<br>Securities owned, at market<br>Receivable from clearing organization<br>Right of use asset<br>Prepaid expenses and other | \lt;br>136,491<br>21,212<br>569,022<br>234,075<br>59,127<br>38,664 | \lt;br>99,054<br>21,198<br>586,795<br>7,633<br>103,647<br>68,632 | | | | TOTAL ASSETS | \$ 1,058,591 | \lt;br>886,959 | | | | Liabilities and Stockholder's Equity | | | | | | Liabilities:<br>Accrued commissions and bonus<br>Due to related party<br>Lease liability<br>Paycheck protection program loan<br>Other accrued liabilities | \lt;br>164,762<br>59,378<br>156,032<br>21,668 | \lt;br>56,798<br>33,231<br>102,141<br>28,976 | | | | Total liabilities | 401,840 | 221,146 | | | | Stockholder's equity:<br>Common shares - Par value \$10 per share<br>Authorized -100,000 shares<br>Issued and outstanding -63,000 shares<br>Additional paid-in capital<br>Retained earnings | 6,300<br>221,916<br>428,535 | 6,300<br>221,916<br>437,597 | | | | Total stockholder's equity | 656,751 | 665,813 | | | | TOTAL LIABILffIES AND STOCKHOLDER'S EQUITY | \$ 1,058,591 | \lt;br>886,959 | | | See accompanying notes to financial statements. 2 {2}------------------------------------------------ (A Wholly Owned Subsidiary of Hart Securities Corporation) #### Statements of Income | | 2020 | 2019 | |----------------------------------|--------------|----------------------| | Revenue: | | | | Commissions | \$ 2,098,092 | \$ 2,001,605 | | Firm trading gains (losses) | 5,029 | (60,792) | | Interest income and other | 12,496 | 19,805 | | | | | | Total revenue | 2,115,617 | 1,960,618 | | Expenses: | | | | Commissions and compensation | 1,611,371 | 1,547,802 | | Clearing fees | 263,299 | 247,164 | | Communications | 71,288 | 82,129 | | Occupancy | 90,814 | 68,742 | | Regulatory and…Read the full text as markdown