# T CAPITAL FUNDING, LLC X-17A-5 (2025-03-12) — Broker-dealer annual report
- Company: T CAPITAL FUNDING, LLC
- Form: X-17A-5
- Filed: 2025-03-12
- Period: 2024-12-31
- Accession: 0001259170-25-000001
- 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/1259170/000125917025000001/tcappub.pdf
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**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549**
# **ANN UAL REPORTS FORM X-17A-5 PART** Ill
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# 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 **O 1/01 /24**
MM/DD/YY
AND ENDING **12/31** /24 MM/DD/VY
**A. REGISTRANT IDENTIFICATION**
# NAME OF FIRM: T CAPITAL FUNDING, LLC
TYPE OF REGISTRANT (check all applicable boxes):
0 Broker-dealer D Security-based swap dealer □ 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) | | | | | | |
|------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------|------------------------------|--|--|--|--|
| FL | | 32701 | | | | |
| (State) | | (Zip Code) | | | | |
| | | | | | | |
| 321-280-5235 | | TCFac@tcapitalfunding.com | | | | |
| (Area Code -Telephone Number) | (Email Address) | | | | | |
| | | | | | | |
| INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing*
EisnerAmper LLP
(Name - if individual, state last, first, and middle name) | | | | | | |
| | | | | | | |
| | | | | | | |
| New York
(City) | NY
(State) | 10017
(Zip Code) | | | | |
| | 274 | | | | | |
| | PERSON TO CONTACT WITH REGARD TO THIS FILING | B. ACCOUNTANT IDENTIFICATION | | | | |
\* 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 240.17a-S(e)(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.
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#### **OATH OR AFFIRMATION**
| | swear (or affirm) that, to the best of my knowledge and belief, the
I, Amber Clarke | | | | |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--|--|--|--|
| | financial report pertaining to the firm of T CAPITAL FUNDING. LLC
, as of | | | | |
| | 2~,
12/31
is true and correct. I further swear (or affirm) that neither the company nor any | | | | |
| | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | | | |
| | as that of a customer. | | | | |
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| | This filing** contains (check all applicable bo~~~l;, -~··Nos~,,,,' | | | | |
| | 111111111 \
ii (a) Statement of financial condition. | | | | |
| | ii (b) Notes to consol
idated 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 | | | | |
| | comprehensive 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 | (fl Statement of changes in liabilities subordinated to claims of creditors. | | | | |
| D
D | (g) Notes to consolidated financial statements.
(h) Computation of net capital 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 determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. | | | | |
| D | (k) Computation 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 Exhibit A to§ 240.15c3-3. | | | | |
| D | (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. | | | | |
| D | (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-l, 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 . | | | | |
| | ii (q) Oath or affirmation in accordance with 17 CFR 240.17a-S, 17 CFR 240.17a-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. | | | | |
| | ii (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. | | | | |
| | ii (t) Independent public accountant's report based on an examination of the statement of financial condition. | | | | |
| D | (u) Independent public accountant's report based on an examination of the financial 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 compliance report under 17 | | | | |
| | CFR 240.17a-S or 17 CFR 240.18a-7, as applicable.
ii (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-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. | | | | |
- 0 (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 exist, 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 applicable.
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T Capital Funding, LLC
Financial Statements and Supplemental Information December 31 , 2024
Pursuant to Rule 17a-5 under The Securities Exchange Act of 1934
Public Document
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# T Capital Funding, LLC
# For the Year Ended December 31, 2024
| Contents | |
|---------------------------------------------------------|-----|
| Report of Independent Registered Public Accounting Firm | |
| Financial Statement | |
| Statement of Financial Condition | 2 |
| Notes to Financial Statement | 3-4 |
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**EisnerAmper LLP** 733 Third Avenue New York, NY 10017 **T** 212.949.8700 **F** 212.891 .4100
#### www.e1snera11µer com
#### **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, 2024 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, 2024, 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.
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We have served as the Company's auditor since 2023.
EISNERAMPER LLP New York, New York March 12, 2025
"E sne-rAmper· 1s the brand nam~ under h1ch E1sncrAmper LLP and E1sne-r Ach. sory Group LLC and ,ts subs«:lta'Y ent,t provid.e profess onal SC1'V1ces EisnerAmper LLP and Eisner Advisory G•ouo Care 1ndep,,ndently o-.,ned firms that practice I an alternatJVe pracuce structure in accorda'lCe ,·,,th the AICPA Code of Profess,onal Conduct and app able law. regulat10ns and profess nal standards E,snerAmper LLP is a censed CPA firm that prov-des attest serv,ces and Eisner Admory Group LLC and Its subsid"1ry ent t,cs pro,edc ta, and bus ness consult ng services Eisner Adv,sory Group LLC and ,ts subsidiary enM•es are not censed CPA firms
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# T Capital Funding, LLC Statement of Financial Condition December 31 , 2024
# Assets
| Cash and cash equivalents
Accounts receivable | \$
254,024
185,336 |
|-------------------------------------------------------------------|--------------------------|
| Prepaid expenses and other assets | 30,568 |
| Property and equipment, less accumulated depreciation of \$17,938 | 1,595 |
| | \$
471 ,523 |
| | |
| Liabilities and member's equity | |
| Liabilities | |
| Due to affiliates
Accounts payable and accrued expenses | \$
2,005
19,100 |
| | 21 ,105 |
| | |
| Member's equity | 450,418 |
| | \$
471 ,523 |
See accompanying notes to financial statements
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# T Capital Funding, LLC Notes to Financial Statement December 31 , 2024
# 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 , 2024 and 2023 was \$185,336 and \$0 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.
The Company follows Accounting for Uncertainty in Income Taxes which clarifies the accounting and disclosures for uncertain tax positions related to income taxes recognized in the financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. The Company may recognize the tax benefit from uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities based on the technical merits of the position. At December 31 , 2024, management has determined that the Company had no uncertain tax positions that would require financial statement recognition.
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# T Capital Funding, LLC Notes to Financial Statement December 31 , 2024
# 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 , 2024, the Company had net capital of \$244,445 which exceeded requirements by \$239,445. The ratio of aggregate indebtedness to net capital was .08 to 1.
## Note 4 - Related Party Transactions
All the Company's commissions and compliance administrative fees for the year ended December 31 , 2024 were derived from affiliated entities or member.
The Company reimburses the Member and other related entities for certain expenses including its allocable share of payroll and benefits, accounting and bookkeeping services and certain administrative expenses. The Company owes \$2,005 of benefits and expense reimbursements to affiliates at December 31 , 2024, which is included in Due to Affiliates on the Statement of Financial Condition.
### 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 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 , 2024. 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 8 - Segment Reporting
The Company's chief operating decision maker is its chief executive officer. The Company has one reportable segment: investment banking. The accounting policies of the investment banking segment are the same as those described in the summary of significant accounting policies. The chief operating decision maker assesses performance for the investment banking segment and decides how to allocate resources based on net income as is reported within the statement of income. The measure of segment assets is reported within the accompanying statement of financial condition as total assets. The Company does not have intra-entity sales or transfers.
#### Note 9 - Subsequent Events
Management has performed an evaluation of events that have occurred subsequent to December 31 , 2024, and through March 12, 2025 the date these financial statements were issued.
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**EisnerAmper LLP** 733 Third Avenue New York, NY 10017 **T** 212.949.8700 **F** 212.891.4100 www.e1~nerampPr com
# **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 Rule 15c2-4 and; (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 7 4. 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 March 12, 2025
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