# EUROPEAN FAMILY OFFICE INSTITUTE LLC. X-17A-5 (2025-12-01) — Broker-dealer annual report - Company: EUROPEAN FAMILY OFFICE INSTITUTE LLC. - Form: X-17A-5 - Filed: 2025-12-01 - Period: 2024-12-31 - Accession: 0001690834-25-000004 - CIK: 1690834 - File #: 8-69871 - Type: Broker-dealer - Material weakness: Yes - Auditor: Rubio CPA, PC - Auditor location: Atlanta, FL - Contact: George P. Simon - Phone: 5617151231 - Email: drgpsimon@gmail.com - Signed by: George P Simon (CEO) Original filing: https://www.sec.gov/Archives/edgar/data/1690834/000169083425000004/latefile.pdf --- {0}------------------------------------------------ ## **OATH OR AFFIRMATION** I, George P Simon swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of European Family Office Institute LLC as of 3/31 2~ 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. Notary Public ## **This filing\*\* contains (check all applicable boxes):** ~ ... ~ **,-cOfflffl. ExplrtsApr 22, 2021** - - ~- (b) Notes to consolidated statement of financial condition. - ~ (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) Statement of cash flows. - ~ (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. - "19., (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. - 0 0) Computation for determination of customer reserve requirements pursuant to Exhibit Ato 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. - □ (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.lSa-4, as applicable. - ~ (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. - ~ (q) OatJior 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. - jZ::1- (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 examinati\_on 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. - □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 V 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-le or 17 CFR 240.17a-12, as applicable. - □ (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). 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. \ ~ ti~~ **Natlry=•=Florldl \I'-** j**CCllllffliSsbl** *I* HH 519011 ~ (a) Statement of financial condition. ..,.....,..,..,..,...,..\_.,..,..., ... \_.~ {1}------------------------------------------------ #### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,** D.C. **20549** ## **ANNUAL REPORTS FORM X-17A-5 PART** Ill **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 1/31/2024** MM/00/YY AND ENDING **12/31/2024** MM/00/YY **A. REGISTRANT IDENTIFICATION** # NAME oF FIRM: European Family Office Institute LLC TYPE OF REGISTRANT (check all applicable boxes): [!I Broker-dealer □ Security-based swap dealer D Check here if respondent is also an OTC derivatives dealer □ Major security-based swap participant ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | 2299 NW 4th Ave | | | | | |----------------------------------------------|---------------------------------------------------------------------------|------------------------------------------|-----------------|--| | | (No. and Street) | | | | | Boca Raton | FL | | 33431 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | George P Simon | 561-715-1231 | drgpsimon@gmail.com | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | B. ACCOUNTANT IDENTIFICATION | | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | Rubio CPA,PC | | | | | | | (Name - if individual, state last, first, and middle name) | | | | | 3500 Lenox RD | Atlanta | GA | 30326 | | | (Address) | (City) | (State) | (Zip Code) | | | | | 3514 | | | | Tte of Reglstratio" wlth PCAOBJI• applkable) | | (PCAOB Registratloa Numbe,, "'••""'"•I 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 240.17a-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.** Estimated average burden hours per response: 12 0MB APPROVAL 0MB Number: 3235-0123 Expires: Nov. 30, 2026 SEC FILE NUMBER {2}------------------------------------------------ **RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS 3500 Lenox Road NE Suite 1500 Atlanta, GA 30326 770-690-8995 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of European Family Office Institute LLC ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition of European Family Office Institute LLC (the "Company") as of December 31, 2024, the related statements of operations, changes in member's equity, and cash flows for the year then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the re~ults 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 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 statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its 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 expressing an 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 to the financial statements, 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 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 information contained in Schedules I, 11, and Ill has been subjected to audit procedures performed in conjunction with the audit of the Company's financial statements. The supplemental information is the responsibility of the Company's management. Our audit procedures included determining whether the information in Schedules I, II, and III reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy oft~e information presented in the accompanying schedules. In forming our opinion on the accompanying schedules, we evaluated whether the supplemental information, including its form and content, is presented {3}------------------------------------------------ in conformity with 17 C.F.R. §240.l 7a-5. In our opinion, the aforementioned supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole. We have served as the Company's auditor since 2023. March 3 l, 2025 Atlanta, Georgia {4}------------------------------------------------ ## **EUROPEAN FAMILY OFFICE INSTITUTE LLC STATEMENT OF FINANCIAL CONDITION December 31, 2024** ASSETS | Cash | \$
7,864 | |------------------------------------------------------|-------------| | Prepaid expenses and deposits | 801 | | Total assets | \$
8,665 | | LIABILITIES AND MEMBER'S EQUITY | | | liabilities
Accounts payable and accrued expenses | \$
450 | | Total liabilities | 450 | | Member's equity | 8,215 | | Total liabilities and member's equity | \$
8,665 | The accompanying notes are an integral part of these financial statements. {5}------------------------------------------------ ## **EUROPEAN FAMILY OFFICE INSTITUTE LLC STATEMENT OF OPERATIONS For the Year Ending December 31, 2024** | REVENUES | \$ | |-------------------------------|----------------| | Total Revenues | | | EXPENSES | | | Technology and communications | 2,312 | | Professional fees | 6,800 | | Other | 2,833 | | Total expenses | 11,945 | | | | | NET LOSS | (11,945)
\$ | The accompanying notes are an integral part of these financial statements. {6}------------------------------------------------ ## **EUROPEAN FAMILY OFFICE INSTITUTE LLC STATEMENT OF CHANGES IN MEMBER'S EQUITY For the Year Ending December 31, 2024** | Balance, December 31, 2023 | \$
8,660 | |----------------------------|-------------| | Contributions | 11,500 | | Net Loss | (11,945) | | Balance, December 31, 2024 | \$
8,215 | The accompanying notes are an integral part of these financial statements. {7}------------------------------------------------ ## **EUROPEAN FAMILY** OFFICE **INSTITUTE** LLC **NOTES** TO **FINANCIAL STATEMENTS** December 31, **2024** #### NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES **Organization and Description of Business:** European Family Office Institute LLC (the "Company"), a Florida Limited Liability Company organized in August 2014, is a securities broker-dealer registered with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"). As a limited liability company, the member's liability is limited to his investment. The Company is approved to operate as a "general securities" broker-dealer executing trades for institutional and retail customers. The Company does not carry customer accounts or perform custodial functions relating to customer securities. **Income Taxes:** The Company is a single member limited liability company and is considered a disregarded entity for federal income tax reporting purposes and as such, does not file a separate income tax return. Therefore, the income or losses of the Company flow through to its member and no income taxes are recorded in the accompanying financial statements. The Company has adopted the provIsIons of FASB Accounting Standards Codification 740-10, Accounting for Uncertainty in Income Taxes. Under ASC 740-10, the Company is required to evaluate each of its tax positions to determine if they are more likely than not to be sustained if the taxing authority examines the respective position. A tax position includes an entity's status, including its status as a passthrough entity, and the decision not to file a tax return. The Company has evaluated each of its tax positions and has determined that no provision or liability for income taxes is necessary. **Estimates:** Management uses estimates and assumptions in preparing financial statements in accordance with generally accepted accounting principles. Those estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Actual results could vary from the estimates that were assumed in preparing the financial statements. **Cash:** The Company maintains its bank account in a high credit quality financial institution. The balance at times may exceed federally insured limits. {8}------------------------------------------------ ## **EUROPEAN FAMILY OFFICE INSTITUTE LLC NOTES TO FINANCIAL STATEMENTS December 31, 2024** #### NOTE D - CONTINGENCIES The Company is subject to litigation in the· normal course of business. The Company has no litigation in progress as of December 31, 2024. #### NOTE E - SUBSEQUENT EVENTS Management has assessed subsequent events through the date the financial statements were issued and determined no. subsequent events or transactions occurred during that period requiring recognition or disclosure. #### NOTE F - SEGMENT REPORTING The Company has one reportable segment: private placement of securities. The Company has identified its President as the chief operating decision maker ("CODM"), who uses net income or loss to evaluate the results of the business, predominantly in the forecasting process, to manage the Company. Additionally, the CODM uses excess net capital (see Note 8), which is not a measure of profit and loss, to make operational decisions while maintaining capital adequacy, such as whether to reinvest profits or pay distributions. The Company's operations constitute a single operating segment and therefore, a single reportable segment, because the CODM manages the business activities using information of the Company as a whole. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies. #### NOTE G - NET LOSS The Company incurred a loss for the year ending December 31, 2024 and was dependent upon capital contributions from its member for working capital and net capital. The Company's member has represented that he intends to continue making capital contributions, as needed, to ensure the Company's survival through at least one year subsequent to the date of the report of the independent registered public accounting firm. Management expects the Company to continue as a going concern and the accompanying financial statements have been prepared on a going-concern basis without adjustments for realization in the event the Company ceases to continue as a going concern. {9}------------------------------------------------ #### **EUROPEAN FAMILY OFFICE INSTITUTE LLC** ## **SCHEDULE** I **COMPUTATION OF NET CAPITAL UNDER RULE 15c3-1 OF THE SECURITIES AND EXCHANGE COMMISSION December 31, 2024** | Net Capital | | |------------------------------------------------------------------------------------------|--------------| | Total member's equity qualified for net capital | \$
8,215 | | Deduction for non-allowable assets:
Prepaid expenses and deposits | (801) | | Net capital before haircuts | 7,414 | | Less haircuts | | | Net capital | \$
7,414 | | Minimum net capital required (greater of \$5,000 or 6 2/3% of aggregate
indebtedness) | \$
5,000 | | Excess net capital | \$
2,414 | | Aggregate Indebtedness:
Liabilities | \$
450 •. | | Minimum net capital based on aggregate indebtedness | \$
30 | | Ratio of aggregate indebtedness to net capital | 6.07% | RECONCILIATION WITH COMPANY'S COMPUTATION OF NET CAPITAL INCLUDED IN PART IIA OF FORM X-17A-5 AS OF DECEMBER 31, 2024 There was no material difference between net capital in Part IIA of Form X-17A-5 and net capital above. {10}------------------------------------------------ #### **EUROPEAN FAMILY OFFICE INSTITUTE LLC** ## **SCHEDULE** II **COMPUTATION FOR DETERMINATION OF** THE **RESERVE REQUIREMENTS UNDER THE SECURITIES AND EXCHANGE COMMISSION RULE 15c3-3 December 31, 2024** The Reserve Requirements pursuant to Rule 15c3-3 is not applicable as the Company does not hold funds or securities and the Company's activities are limited to those contemplated by Footnote 7 4 of the SEC Release No.34-70073 adopting amendments to 17 C.F.R. §240.17-a-5. #### **SCHEDULE 111** ## **INFORMATION RELATING TO THE POSSESSION OR CONTROL REQUIREMENTS UNDER THE SECURITIES AND EXCHANGE COMMISSION RULE 15c3-3 December 31, 2024** The Possession or Control Requirements pursuant to Rule 15c3-3 is not applicable as the Company does not hold customer funds or securities and the Company's activites are limited to those contemplated by Footnote 74 of the SEC Release No.34-70073 adopting amendments to 17 C.F.R. §240.17a-5. {11}------------------------------------------------ **RUBIO CPA, PC** CERTIFIED PUBLIC ACCOUNTANTS 3500 Lenox Road NE Suite 1500 Atlanta, GA 30326 770-690-8995 ## **REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** To the Member of European Family Office Institute LLC We have reviewed management's statements included in the accompanying Broker Dealers Annual Exemption Report in which (I) European Family Office Institute LLC did not claim an exemption from Rule I Sc3-3 in reliance upon Footnote 74 of the 2013 Release, and (2) European Family Office Institute LLC stated that European Family Office Institute LLC met the identified conditions for such reliance because European Family Office Institute LLC limits its business activities to receiving transaction-based compensation from the private placement of securities and European Family Office Institute LLC (I) 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 I Sc2-4 and/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to European Family Office Institute LLC); (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule I Sc3-3) throughout the most recent fiscal year ended December 31, 2024 without exception. European Family Office Institute LLC's management is responsible for compliance with the exemption provisions 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 European Family Office Institute LLC's compliance with the exemption provisions. 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 in Footnote 74 of the 2013 Release. March 31, 2025 Atlanta, GA {12}------------------------------------------------ ## **European Family Office Institute's Exemption Report** **European Family Office Institute LLC** (the "Company") is a registered broker-dealer subject to Rule l 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240. l 7a-5, "Reports to be made by certain brokers and dealers"). This Exemption Report was prepared as required by 17 C.F.R. §240.17a-5(d)(l) and (4). To the best of its knowledge and belief, the Company states the following: - (1) The Company does not claim an exemption under paragraph (k) of 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 receiving transaction-based compensation from the private placement of securities 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/or funds received and promptly transmitted for effecting transactions via subscriptions on a subscription way basis where the funds are payable to the issuer or its agent and not to the Company); (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 ended December 31, 2023 without exception. European Family Office Institute LLC I, George P Simon , swear ( or affirm) that, to my best knowledge and belief, this Exemption Report is true and correct. **03/16/2025** Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.