# YOUNG AMERICA CAPITAL, LLC X-17A-5 (2024-09-30) — Broker-dealer annual report - Company: YOUNG AMERICA CAPITAL, LLC - Form: X-17A-5 - Filed: 2024-09-30 - Period: 2024-06-30 - Accession: 0001463911-24-000010 - CIK: 1463911 - File #: 8-68260 - Type: Broker-dealer - Material weakness: No - Auditor: SANVILLE & COMPANY, LLC - Auditor location: DALLAS, TX - Contact: Tad Bull - Phone: 9179239649 - Signed by: Peter Formanek (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1463911/000146391124000010/yacprivfinal.pdf --- {0}------------------------------------------------ ## FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES YOUNG AMERICA CAPITAL, LLC ## FOR THE YEAR ENDED JUNE 30, 2024 Public ![](_page_0_Picture_4.jpeg) {1}------------------------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 # ANNUAL REPORTS FORM X-17A-5 PART III | OMB APPROVAL | | |--------------------------|----| | OMB Number: 3235-0123 | | | Expires: Nov. 30, 2026 | | | Estimated average burden | | | hours per response: | 12 | | | | | SEC FILE NUMBER | | |-----------------|--| | 8-68260 | | | | | | 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 07/01/2023 | AND ENDING 06/30/2024 | | | | | | MM/DD/YY | MM/DD/YY | | | | | | A. REGISTRANT IDENTIFICATION | | | | | | | NAME OF FIRM: YOUNG AMERICA CAPITAL, LLC | | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
Broker-dealer | LJ Security-based swap dealer | | | | | □ Check here if respondent is also an OTC derivatives dealer ്ച് Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) # 141 EAST BOSTON POST RD | | | (No. and Street) | | | | |-------------------------------------------------------------------------------------------------------|--|------------------------------------------------------------|-----------------|--------------------------------------------|--| | MAMARONECK | | NEW YORK | | 10543 | | | (City) | | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | | PETER FORMANEK 914-777-0100 | | | | peter(@yacapital.com | | | (Name) | | (Area Code - Telephone Number) | (Email Address) | | | | | | B. ACCOUNTANT IDENTIFICATION | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filling*
Sanville & Company, LLC | | | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 325 North Saint Paul St. Suite 3100 Dallas | | | 1 X | 75201 | | | (Address) | | (City) | (State) | (Zip Code) | | | 09/18/2003 | | | 169 | | | | (Date of Registration with PCAOB)(if applicable) | | | | (PCAOB Registration Number, if applicable) | | | | | 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 ricports of an independent public CFR 240.17a-5(e)(1)[ii). if applicable CFR 240.17a-5(e)(1)(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 OMB control number displays a currently valid OMB control number. {2}------------------------------------------------ #### OATH OR AFFIRMATION Peter Formanek swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of Young America Capital, LLC as of ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------9/2/ 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. PAULA JACKSON NOTARY PUBLIC, STATE OF NEW YORK Hegistration No. 01JA6229593 Qualified in Westchester County Commission Expires October 18, 2020 Notary Public This filing\*\* contains (check all applicable boxes): (a) Statement of financial condition. - [b) Notes to consolidated statement of financial condition. - [c] Statement of income (loss) or, if there is other comprehensive in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - L (d) Statement of cash flows. - [e] Statement of changes in stockholders' or partners' or sole proprietor's equity. Signature: Poter Formans litle: CEO - [f] Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - [ (j) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - [ (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. - [ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - [] {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. - O (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capital on tangible net worth under 17 CFR 240.15c3-1, 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. - [ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [] {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 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [t) Independent public accountant's report based on an examination of the statement of financial condition. - @ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - O (v) Independent public accountant's report based on an examination of certain statements in the compliance 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 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [ {x| Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.15c3-1e or 17 CFR 240.17a-12, as applicable. - - O (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 240.17a-12(k). - (z) Other: \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18c-7(d)(2), as applicable. {3}------------------------------------------------ # FINANCIAL STATEMENTS AND SUPPLEMENTARY SCHEDULES YOUNG AMERICA CAPITAL, LLC # FOR THE YEAR ENDED JUNE 30, 2024 {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) Report of Independent Registered Public Accounting Firm To the Members and Those Charged With Governance of Young America Capital, LLC ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition of Young America Capital, LLC (the Company) as of June 30, 2024, the related statements of operations, changes in members' equity, and cash flows for the year then ended, and the related notes to the financial statements (collectively, the financial statements). In for opinion the financial statements present fairly, in all material respects, the financial position of the Company as of June 30, 2024, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. #### Basis for Opinion These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements 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 indepondent with respect to the Company in accordance with 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 statements are free of material misstatement, whether due to enor or fraud. The Company is not required to have, not were we engaged to perform, an audit of internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressions on opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included also included ovelyeting the assembly the amounts and disclosures in the financial statements. 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 statements. We believe that our audit provides a reasonable basis for our opinion. # Supplemental Information The supplementary information contained in The Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under Rule SEC 15:3-3 and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c3-3 have been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the supplemental information reconcies to the financial statements or the underlying and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the > 325 North Saint Paul Street Suite 3100 Dallas, Texas 75201 214.738.1998 {5}------------------------------------------------ supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplementary information contained in the Schedule I, Computation of Net Capital Under SEC Rule 15c3-1, Schedule II, Computation for Determination of Reserve Requirements Under SEC Rule 15c3-3 and Schedule III, Information Relating to the Possession or Control Requirements Under SEC Rule 15c33 are fairly stated, in all material respects, in relation to the financial statements as a whole. Sanville & Company, LLC We have served as the Company's auditor since 2023. Dallas, Texas September 25, 2024 and the comments of the comments of the comments of the comments of {6}------------------------------------------------ # YOUNG AMERICA CAPITAL, LLC # STATEMENT OF FINANCIAL CONDITION JUNE 30, 2024 ### ASSETS | Cash and cash equivalents | ಳು | 401,146 | |---------------------------|----|------------| | Accounts receivable | | 250,000 | | Prepaid expenses | | 29,824 | | Fixed assets (net) | | 25.154 | | Total Assets | | \$ 706,724 | # LIABILITIES AND MEMBERS EQUITY Liabilities: | Accounts payable and accrued expenses | es | 193,124 | |---------------------------------------|----|---------| | Commissions Payable | | 225,000 | | Total Liabilities | | 418,124 | | Members' Equity | | 288,600 | | Total Liabilities and Members' Equity | | 706.724 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ # YOUNG AMERICA CAPITAL, LLC NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024 #### Note 1 - Nature of business: Young America Capital, LLC (the "Company") is a broker-dealer registered with the Securities and Exchange Commission ("SEC"), and is a member of Financial Industry Regulatory Authority, Inc. ("FINRA") and the Securities Investor Protection Corp. ("SIPC"). The Company operates as (a) an advisor and placement agent of marketable and non-marketable securities, (b) an advisor providing transaction structuring and assistance to early stage and growth stage entities, and (c) an advisor for mergers and acquisitions. The Company does not hold customers' cash or securities. It operates from an office in the New York City metropolitan area. # Note 2 - Summary of significant accounting policies: ## Revenue recognition - contracts with customers: The Company recognizes revenue in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers which requires that an entity recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance requires an entity to follow a five-step model to (a) identify the contract(s) with a customer, (b) identify the performance obligations in the contract, (c) determine the transaction price, (d) allocate the transaction price to the performance obligations in the contract, and (e) recognize revenue when (or as) the entity satisfies a performance obligation. In determining the transaction price, an entity may include variable considerations only to the extent that it is probable that a significant reversal in the amount of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration is resolved. Fee income for the period ended June 30, 2024, is comprised of: Investment banking fee income \$ 4,686,695 ### Accounts Receivable: Accounts receivable are recorded at the invoiced amount and do not bear interest. The Company records an allowance for doubtful accounts, which is the Company's best estimate of the amount of probable credit losses on the existing accounts receivable. The allowance is determined based on the historical write-off experience and age of the account receivable balances. Doubtful accounts are reviewed and written-off on a quarterly basis. Past due balances over 90 days and over a specified amount are reviewed individually each quarter for collectability and specify and debt reserves are recorded as deemed necessary. There was no balance on the Allowance for doubtful accounts at June 30, 2024. The Company had an outstanding accounts receivable balance of \$250,000 as of June 30, 2024. Payments for Accounts receivable (net) are collectible as follows: | 2024 | | 250,000 | |--------|--|------------| | l otal | | \$ 250,000 | {8}------------------------------------------------ ## YOUNG AMERICA CAPITAL, LLC NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024 # Note 2 - Summary of significant accounting policies - continued: #### Income taxes: The Company files income tax returns on the cash basis as a partnership for federal and state income tax purposes. The end of fiscal year is June 30th. As such, the Company will not pay any income taxes, as any income or loss will be included in the income tax returns of the individual members. Accordingly, no provision is made for income taxes in the financial statements. The Company has determined that there are no uncertain tax positions which require adjustment or disclosure on the financial statements. Adoption of this standard had no effect on the Company's financial statements. The Company remains subject to U.S. federal and state income tax audits for all periods subsequent to and including 2019. As a limited liability company, the members' liability is limited to amounts reflected in their respective member account. #### Cash and cash equivalents: For purposes of the Statement of Cash Flows, the Company considers all highly liquid debt instruments with an original maturity of three months or less to be cash equivalents. All cash balances are held with a major financial institution within the United States of America. #### Financial instruments - Credit Losses: On January 1, 2020, the Company adopted FASB ASC Topic 326 - "Financial Instruments -Credit Losses" ("ASC Topic 326") which replaces the incurred loss methodology with the current expected credit loss ("CECL") methodology. The new guidance applies to financial aanets measured at amortized cost, held-to maturity debt securities and off-balance sheet credit exposures. For on-balance sheet assets, an allowance must be recognized at the origination or purchase of in-scope assets and represents the expected credit losses over the contractual life of those assets. Expected Credit losses on off-balance sheet credit exposures must be estimated over the contractual period the Company is exposed to credit risk as a result of a present obligation to extend credit. The Company adopted ASC topic 326 using the modified retrospective approach for all in-scope assets. The impact of the adoption of the current expected credit loss ("CECL") methodology to the current period was not material. #### Use of estimates: The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Actual results could vary from those estimates. ### Concentration of credit risk: The Company maintains its cash in accounts that, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents #### Subsequent events evaluation: Management has evaluated subsequent events through September 23, 2024, the date the financial statements were available to be issued. # Note 3 - Related party transactions: The Company paid rent, utilities, accounting and occupancy costs on a month to month basis together with administrative expenses to a company owned by the managing member. The total amount paid and expensed during the period ended June 30, 2023 was \$12,000. {9}------------------------------------------------ # YOUNG AMERICA CAPITAL, LLC NOTES TO FINANCIAL STATEMENTS JUNE 30, 2024 #### Note 4 - Commissions payable: The Company records commissions payable to registered representatives based on a percentage of revenue. Commissions are paid when cash is received for amounts invoiced. No commission payable is recorded for accounts receivable balances that are considered uncollectible and for which a reserve is recorded. #### Note 5 - Net capital requirement: As a registered broker-dealer, the Company is subject to the SEC's Uniform Net Capital Rule 15c3-1. The Rule requires that the Company maintain minimum net capital and requires that the ratio of aggregate indebtedness to net capital, both as defined, shall not exceed 15 to 1 (and that equity capital may not be withdrawn, or cash dividends paid if the resulting net capital ratio would exceed 10 to 1). On June 30, 2024, the Company had net capital of \$207,874 which exceeded its requirement of \$27,875 by \$179,997. The Company had a ratio of aggregate indebtedness to net capital of 2.01 to 1 on June 30, 2024. ![](_page_9_Picture_16.jpeg) Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.