# T CAPITAL FUNDING, LLC X-17A-5 (2024-02-28) — Broker-dealer annual report - Company: T CAPITAL FUNDING, LLC - Form: X-17A-5 - Filed: 2024-02-28 - Period: 2023-12-31 - Accession: 0001259170-24-000001 - CIK: 1259170 - File #: 8-66106 - Type: Broker-dealer - Material weakness: No - Auditor: EisnerAmper LLP - Auditor location: New York, NY - Contact: Amber Clarke - Phone: 321-280-5235 - Email: tcfac@tcapitalfunding.com - Website: tcapitalfunding.com - Signed by: Amber Clarke (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1259170/000125917024000001/tcappub.pdf --- {0}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response : 12 # ANNUAL REPORTS FORM X-17A-5 PART Ill | SEC FILE NUMBER | | |-----------------|--| | 8-66106 | | **FACING PAGE** Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 FILING FOR THE PERIOD BEGINNING **0 1/01 /23** AND ENDING **12/31 /23** MM/DD/VY MM/00/YY **A. REGISTRANT IDENTIFICATION** # NAME OF FIRM: T CAPITAL FUNDING, LLC TYPE OF REGISTRANT (check all applicable boxes): 0 Broker-dealer O Security-based swap dealer D Major security-based swap participant D Check here if respondent is also an OTC derivatives dealer ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 600 Northlake Blvd., Suite 175 | | (No. and Street) | | |----------------------------------------------|---------------------------------------------------------------------------|---------------------------| | Altamonte Springs | FL | 32701 | | (City) | (State) | (Zip Code) | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | Amber Clarke | 321-280-5235 | TCFac@tcapitalfunding.com | | (Name) | (Area Code -Telephone Number) | (Email Address) | | | B. ACCOUNTANT IDENTIFICATION | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | # EisnerAmper LLP | | (Name - if individual, state last, first, and middle name) | | | |-------------------------------------------------|------------------------------------------------------------|---------|-------------------------------------------------| | 733 Third Avenue | New York | NY | 10017 | | (Address) | (City) | (State) | (Zip Code) | | 9/29/03 | | 274 | | | re of
Regist"'i°" with PCAOB)(if ap<'icable) | | | ( PCAOB Regist,atioo N" mbe,, if applica blel I | | | FOR OFFICIAL USE ONLY | | | | | | | | • Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240. l 7a-S(el(l)(ii), if applicable. Persons who are to respond to the collection of Information contained in this form are not required to respond unless the form displays a currently valid 0MB control number. {1}------------------------------------------------ #### **OATH OR AFFIRMATION** | I, Amber Clarke | | , swear (or affirm) that, to the best of my knowledge and belief, the | |-----------------|-------------------------------------------------------------------|-----------------------------------------------------------------------| | | financial report pertaining to the firm of T CAPITAL FUNDING, LLC | , as of | \_1\_2\_/\_3\_1 \_\_\_\_\_\_\_\_\_\_ ~ 2~, is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equiva lent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. ~ , KATHRYN THERESA FATHERLEY @ **Notary** Public coMMONWEALTH oF MAssAcHusens rn \ l 1~ ( r\ rl My Commission Expires u,,t- *I.V j\_J\_,,)j\_* '-f September 14, 2029 Notary Public ~ Title: CEO **This filing\*\* contains (check all applicable boxes):** - i!i!: (a) Statement of financial condition. - i!i!: (b) Notes to consolidated statement of financial condition. - D (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensi ve income (as defined in§ 210.1-02 of Regulation S-X). - D (d) Statement of cash flows . - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - D (f) Statement of changes in liabilities subordinated to claims of creditors. - D (g) Notes to consolidated financial statements. - D (h) Computation of net capita l under 17 CFR 240.15c3-1 or 17 CFR 240.18a-l, as applicable. - D (i) Computation of tangible net worth under 17 CFR 240.18a-2. - D (j) Computation for determ ination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - D (k) Computat ion for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - D (I) Computation for Determination of PAB Requirements under Exh ibit A to§ 240.15c3 -3. - D (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - 0 (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - D (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital or tangible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a -1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a -4, as applicable, if material differences exist, or a statement that no material differences exist. - D (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - i!i!: (q) Oath or affirmation in accordance with 17 CFR 240. l 7a-5, 17 CFR 240.l 7a-12, or 17 CFR 240.18a-7, as applicable. - D (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ~ (s) Exemption report in accordance with 17 CFR 240.l 7a-5 or 17 CFR 240.18a-7, as applicable. - ~ (t) Independent public accountant's report based on an examination of the statement of financia l cond ition . - 0 (u) Independent public accountant's rep ort based on an examination of the fin ancial report or financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - D (v) Independent public accountant's report based on an examination of certain statements in the compl iance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - ~ (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.l 7a-5 or 17 CFR 240.18a-7, as applicable. - D (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-le or 17 CFR 240.17a-12, as applicable. - D (y) Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies ex ist, under 17 CFR 240.l 7a -12 (k). D (z) Other:-------------------------------------- - - \*\*To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5{e}{3) or 17 CFR 240.18a-7(d)(2), as applicoble. {2}------------------------------------------------ T Capital Funding, LLC Financial Statements and Supplemental Information December 31, 2023 Pursuant to Rule 1 ?a-5 under The Securities Exchange Act of 1934 Public Document {3}------------------------------------------------ # T Capital Funding, LLC # For the Year Ended December 31, 2023 | Contents | | |---------------------------------------------------------|-----| | Report of Independent Registered Public Accounting Firm | | | Financial Statement | | | Statement of Financial Condition | 2 | | Notes to Financial Statement | 3-4 | {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of T Capital Funding, LLC ### **Opinion on the Financial Statement** We have audited the accompanying statement of financial condition of T Capital Funding, LLC (the "Company") as of December 31, 2023 and the related notes (collectively referred to as the "financial statement"). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. #### **Basis for Opinion** This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. We have served as the Company's auditor since 2023. **EISNERAMPER LLP** New York, New York February **28, 2024** "EisnerAmper" is the brand name under which EisnerAmper LLP and Eisner Advisory Group LLC and its subsidiary entities provide professional services. EisnerAmper LLP and Eisner Advisory Group LLC are independently owned firms that practice in an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. EisnerAmper LLP is a licensed CPA firm that provides attest services, and Eisner Advisory Group LLC and its subsidiary entities provide tax and business consulting services. Eisner Advisory Group LLC and its subsidiary entities are not licensed CPA firms. {5}------------------------------------------------ # T Capital Funding, LLC Statement of Financial Condition December 31 , 2023 ## Assets | Cash and cash equivalents
Due from member | \$
530,474
1,836 | |-------------------------------------------------------------------|------------------------| | Prepaid expenses and other assets | 45,663 | | Property and equipment, less accumulated depreciation of \$15,976 | 2,240 | | | \$
580,213 | | | | | | | | Liabilities and member's equity | | | Liabilities | | | Due to affiliates | \$
75 | | Accounts payable and accrued expenses | 10,030 | | | 10,105 | | | | | Member's equity | 570,108 | | | \$
580,213 | See accompanying notes to financial statements {6}------------------------------------------------ ## T Capital Funding, LLC Notes to Financial Statement December 31 , 2023 ### Note 1 - Organization and Nature of Business T Capital Funding, LLC (the "Company") was organized on January 30, 2003 and is wholly owned by Taurus Investment Holdings, LLC (the "Member"). The Company is a broker-dealer registered with the Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority, Inc. The primary revenue source of the Company is earning commissions for raising capital for real estate projects. The Company is exempt from the provisions of Rule 15c3-3 under the Securities Exchange Act of 1934, pursuant to 15c3-3(k) (the "exemption provisions") and of the 2013 Release adopting amendments to Rule 17a-5, including Footnote 74 of the 2013 Release. ### Note 2 - Summary of Significant Accounting Policies #### Basis of Accounting The financial statements are prepared using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. #### Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United State of America ("U.S. GAAP") requires management to make estimates and assumptions. Those estimates and assumptions affect the reported amounts of assets and liabilities and, the disclosure of contingent assets and liabilities. Actual results could differ from those estimates. ### Cash and Cash Equivalents Cash and cash equivalents consist of cash in a bank and investments with maturities of three months or less from date of purchase. #### Credit Losses The Company has evaluated accounts receivable, which consists of commIssIon and compliance administrative fees , and concluded that there is no need to establish an allowance for credit losses. The Accounts Receivable balance at December 31 , 2023 and 2022 was \$0 and \$276,163 respectively. #### Income Taxes The Company is a single-member limited liability company and is considered a disregarded entity for federal income tax purposes. The Company's taxable income or loss is reportable on the member's income tax return. #### Note 3 - Regulatory Requirements As a registered broker-dealer, the Company is subject to the net capital provisions of Rule15c3-1 of the Securities Exchange Act of 1934, which requires that the Company's aggregate indebtedness shall not exceed fifteen times net capital , as defined, under such provisions. At December 31 , 2023, the Company had net capital of \$520,369 which exceeded requirements by \$515,369. The ratio of aggregate indebtedness to net capital was .02 to 1. {7}------------------------------------------------ ## T Capital Funding, LLC Notes to Financial Statement December 31 , 2023 ## Note 4 - Related Party Transactions The Company reimburses the Member for certain expenses including its allocable share of payroll and benefits, accounting and bookkeeping services and certain administrative expenses. The Company owes \$75 of benefits and expense reimbursements to affiliates at December 31 , 2023, which is included in Due to Affiliates on the Statement of Financial Condition. The Due from Member balance at December 31 , 2023 of \$1 ,836 relates to the overpayment of administrative expenses. ### Note 5 - Lease The Company entered into a month-to-month basis sublease agreement with a related party for its office space in June 2022. The sublease can be cancelled by the Company at any point with 30 days' notice. The Company recognizes and measures its leases in accordance with FASB ASC 842, Lease. As the sublease is month to month, the Company's recognizes the sublease as a short-term lease and expensed on a straight-line basis. ### Note 6 - Contingencies and Credit Risk The Company is subject to litigation in the normal course of business. The Company has no litigation in progress at December 31 , 2023. The cash and cash equivalents are held by one financial institution and, therefore, are subject to credit risk to the extent those balances exceed applicable Federal Deposit Insurance Corporation ("FDIC") limitations. The Company has not experienced any losses in such accounts and does not believe there to be any significant credit risk with respect to these accounts. ### Note 7 - Subsequent Events Management has performed an evaluation of events that have occurred subsequent to December 31 , 2023, and through February 28, 2024, the date these financial statements were issued. {8}------------------------------------------------ ![](_page_8_Picture_0.jpeg) ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of T Capital Funding, LLC We have reviewed management's statements, included in the accompanying Management Statement Regarding Compliance with The Exemption Provision of SEC Rule 15c3-3, in which (1) T Capital Funding, LLC (the "Company") does not claim an exemption under 17 C.F.R. § 240.15c3-3; and (2) the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to private placement of direct participation programs activity and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Exchange Act Rule 15c2-4 ("Rule 15c2-4''); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. The Company's management is responsible for compliance with the provisions of Footnote 74 and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about the Company's compliance with the provisions of Footnote 74. A review is substantially less in scope than an examination , the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based on the provisions set forth by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240. 17a-5. **EISNERAMPER LLP** New York, New York February **28, 2024** "EisnerAmper" is the brand name under which EisnerAmper LLP and Eisner Advisory Group LLC and its subsidiary entities provide professional services. EisnerAmper LLP and Eisner Advisory Group LLC are independently owned firms that practice in an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. EisnerAmper LLP is a licensed CPA firm that provides attest services, and Eisner Advisory Group LLC and its subsidiary entities provide tax and business consulting services. Eisner Advisory Group LLC and its subsidiary entities are not licensed CPA firms. {9}------------------------------------------------ Management Statement Regarding Compliance with The Exemption Provision of Sec Rule 15c3-3 To Whom it May Concern: We, as members of management of T Capital Funding, LLC (the "Company ") are responsible for complying with Rule 17a-5, "Reports to be made by certain brokers and dealers". We have performed an evaluation of the Company's compliance with the requirements of Rule 17a-5 and the exemption provisions in Rule 15c3-3(k) (the "exemption provisions ") and of the 2013 Release adopting amendments to Rule 17a-5, including Footnote 74 of the 2013 Release. We have determined that the Company does not meet any of the exemption conditions of paragraph (k) of Rule 15c3-3 (i.e., paragraph (k)(l), (k)(2)(i) or (k)(2)(ii)) but also (1) does not directly or indirectly receive, hold or otherwise owe funds or securities for or to customers, other than money or other consideration received and promptly transmitted in compliance with paragraph (a) or (b)(2) of Exchange Act Rule 15c2-4 ("Rule 15c2-4"); (2) does not carry accounts of or for customers; and (3) does not carry PAB accounts (as defined in Rule 15c3-3) and therefore is covered by Footnote 74 of the 2013 Release. Accordingly, based on our evaluation we make the following statements to the best knowledge and belief of the Company: - 1. We reviewed the provi sions of Rule §15c3-3 and related guidance stated in the SEC Staffs FAQ and confirmed that the Company relied on Footnote 74 of the 2013 Release. - 2. The Company conducted business activities involving private placement of direct participation programs activity throughout the year ended December 31, 2023 without exception. - 3. The Company met the identified conditions for such reliance throughout the period January 1, 2023 to December 31, 2023 without exception. Cl~~ Signed: \_\_\_\_\_\_\_\_\_\_\_\_\_ \_ Name: Amber Clarke Title: CEO Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.