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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM 100m 1b

BUDGE FINANCIAL INC

CRD 108256

DALLAS, TX

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Search this name across graphsid dfx:ria:907bdd0c-b2ef-754b-968b-1a997a637969

Data as of Dec 9, 2020 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 1:30 AM UTC and rebuilt at most every 15 minutes.

Relationships: 16
Dated events: 0
On other graphs: 2
Observed: Mar 28, 2012 to Dec 9, 2020
17 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

Private Equityidentity

Budge Financial Inc

Private equity manager · shared crd

Real Estate Fundsidentity

Budge Financial Inc

Real estate fund manager · shared crd

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $127MItem 5.F on the latest filing (2020-12-09); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $0
Private client RAUM: $7.0MderivedItem 5.D individuals plus high net worth individuals
Private client share: 6%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 1
Advisory employees: 1
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 7
High net worth clients: 1
Private funds: 6Schedule D 7.B(1)
Private fund GAV: $240Mgross asset value as reported per fund; never fund size
SEC number: 801-30781
CRD: 108256
Filings on the tape: 17
First filed: Mar 28, 2012
Latest filed: Dec 9, 2020
Organised: Corporation, Texas

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
FIVE STATES ENERGY CAPITAL FUND 2, LLC	Private Equity Fund	$111M	Dec 9, 2020	2	Mar 28, 2014	reported	n/a
FSEC2-7, LLC	Private Equity Fund	$84.0M	Dec 9, 2020	247	Mar 28, 2014	reported	021-193212
FSEC2-1, LLC	Private Equity Fund	$26.9M	Dec 9, 2020	93	Mar 28, 2014	reported	021-193202
FIVE STATES ENERGY CAPITAL FUND 1, LLC	Private Equity Fund	$9.2M	Dec 9, 2020	2	Mar 28, 2014	reported	n/a
FSEC1-7, LLC	Private Equity Fund	$5.9M	Dec 9, 2020	171	Mar 28, 2012	reported	021-101975
FSEC1-1, LLC	Private Equity Fund	$3.4M	Dec 9, 2020	102	Mar 28, 2012	reported	021-101976
MOBILE MEDIA VENTURES II, LLC	Private Equity Fund	$2.0M	Mar 28, 2012	79	Mar 28, 2012	dropped	021-127711
GOTV INVESTMENT FUND (C-7), LLC	Private Equity Fund	$112,940	Mar 28, 2012	27	Mar 28, 2012	dropped	021-138122
GOTV INVESTMENT FUND (C-1), LLC	Private Equity Fund	$36,074	Mar 28, 2012	29	Mar 28, 2012	dropped	021-138124
FIVE STATES VENTURES, LLC	Private Equity Fund	$1,000	Mar 28, 2012	4	Mar 28, 2012	dropped	n/a
FSTAF 2, LLC	Real Estate Fund	$0	Sep 29, 2017	2	Mar 28, 2014	dropped	n/a
FS TONTI ACQUISITION FUND 2 C-7, LLC	Private Equity Fund	$0	Sep 29, 2017	98	Mar 28, 2012	dropped	021-150255
FS TONTI ACQUISITION FUND 2 C-1, LLC	Private Equity Fund	$0	Sep 29, 2017	90	Mar 28, 2012	dropped	021-150231
MOBILE MEDIA VENTURES, LLC	Private Equity Fund	$0	Mar 28, 2012	70	Mar 28, 2012	dropped	021-94508

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
BUDGE, ARTHUR, NEAL	PRESIDENT & CHIEF EXECUTIVE OFFICER	E	yes	01/1991	Mar 28, 2012	Dec 9, 2020
SCALES, JOHN, ROBERT	CHIEF COMPLIANCE OFFICER	Na	no	06/2017	Sep 29, 2017	Dec 9, 2020

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2019	Mar 30, 2020	$127M	$0	1	1	0	6	$240M
2018	Mar 27, 2019	$187M	$0	1	1	0	6	$218M
2017	Mar 30, 2018	$198M	$0	1	1	0	6	$240M
2016	Mar 31, 2017	$209M	$0	1	1	n/a	9	$302M
2015	Mar 30, 2016	$296M	$0	1	1	n/a	9	$344M
2014	Mar 31, 2015	$481M	$0	1	1	n/a	9	$754M
2013	Mar 28, 2014	$329M	$0	1	1	n/a	9	$596M
2012	Mar 27, 2013	$457M	$0	1	1	n/a	4	$192M
2011	Mar 28, 2012	$118M	$0	n/a	n/a	n/a	9	$129M

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2019	$127M	$187M	-32.0%	$209M	-15.3%	1	1	0	0

Relationships

Advises (14)

→ FSEC1-1, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2012 to presentfactForm ADV
→ FSEC1-7, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2012 to presentfactForm ADV
→ FSEC2-7, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2014 to presentfactForm ADV
→ FIVE STATES ENERGY CAPITAL FUND 2, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2014 to presentfactForm ADV
→ FSEC2-1, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2014 to presentfactForm ADV
→ FIVE STATES ENERGY CAPITAL FUND 1, LLCPrivate fundPrivate Equity Fund, IA
Mar 28, 2014 to presentfactForm ADV
→ FS TONTI ACQUISITION FUND 2 C-1, LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Sep 29, 2017factForm ADV
→ FSTAF 2, LLCPrivate fundReal Estate Fund, IA, no longer reported
Mar 28, 2014 to Sep 29, 2017factForm ADV
→ FS TONTI ACQUISITION FUND 2 C-7, LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Sep 29, 2017factForm ADV
→ FIVE STATES VENTURES, LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Mar 28, 2012factForm ADV
→ MOBILE MEDIA VENTURES, LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Mar 28, 2012factForm ADV
→ GOTV INVESTMENT FUND (C-1), LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Mar 28, 2012factForm ADV
→ GOTV INVESTMENT FUND (C-7), LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Mar 28, 2012factForm ADV
→ MOBILE MEDIA VENTURES II, LLCPrivate fundPrivate Equity Fund, IA, no longer reported
Mar 28, 2012 to Mar 28, 2012factForm ADV

Controls (1)

← BUDGE, ARTHUR, NEALOwnerPRESIDENT & CHIEF EXECUTIVE OFFICER, ownership code E, individual
Mar 28, 2012 to presentfactForm ADV

Owns (1)

← SCALES, JOHN, ROBERTOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Sep 29, 2017 to presentfactForm ADV

Dated events

No dated event names this entity yet.

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:907bdd0c-b2ef-754b-968b-1a997a637969
First observed: Mar 28, 2012
Last observed: Dec 9, 2020 70 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

BUDGE FINANCIAL INC

CRD 108256

DALLAS, TX

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:907bdd0c-b2ef-754b-968b-1a997a637969

Data as of Dec 9, 2020 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 1:30 AM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

FIVE STATES ENERGY CAPITAL FUND 2, LLC

Private Equity Fund

$111M

Dec 9, 2020

Mar 28, 2014

reported

n/a

FSEC2-7, LLC

Private Equity Fund

$84.0M

Dec 9, 2020

247

Mar 28, 2014

reported

021-193212

FSEC2-1, LLC

Private Equity Fund

$26.9M

Dec 9, 2020

Mar 28, 2014

reported

021-193202

FIVE STATES ENERGY CAPITAL FUND 1, LLC

Private Equity Fund

$9.2M

Dec 9, 2020

Mar 28, 2014

reported

n/a

FSEC1-7, LLC

Private Equity Fund

$5.9M

Dec 9, 2020

171

Mar 28, 2012

reported

021-101975

FSEC1-1, LLC

Private Equity Fund

$3.4M

Dec 9, 2020

102

Mar 28, 2012

reported

021-101976

MOBILE MEDIA VENTURES II, LLC

Private Equity Fund

$2.0M

Mar 28, 2012

dropped

021-127711

GOTV INVESTMENT FUND (C-7), LLC

Private Equity Fund

$112,940

Mar 28, 2012

dropped

021-138122

GOTV INVESTMENT FUND (C-1), LLC

Private Equity Fund

$36,074

Mar 28, 2012

dropped

021-138124

FIVE STATES VENTURES, LLC

Private Equity Fund

$1,000

Mar 28, 2012

dropped

n/a

FSTAF 2, LLC

Real Estate Fund

Sep 29, 2017

Mar 28, 2014

dropped

n/a

FS TONTI ACQUISITION FUND 2 C-7, LLC

Private Equity Fund

Sep 29, 2017

Mar 28, 2012

dropped

021-150255

FS TONTI ACQUISITION FUND 2 C-1, LLC

Private Equity Fund

Sep 29, 2017

Mar 28, 2012

dropped

021-150231

MOBILE MEDIA VENTURES, LLC

Private Equity Fund

Mar 28, 2012

dropped

021-94508

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

BUDGE, ARTHUR, NEAL

PRESIDENT & CHIEF EXECUTIVE OFFICER

yes

01/1991

Mar 28, 2012

Dec 9, 2020

SCALES, JOHN, ROBERT

CHIEF COMPLIANCE OFFICER

06/2017

Sep 29, 2017

Dec 9, 2020

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2019

Mar 30, 2020

$127M

$240M

2018

Mar 27, 2019

$187M

$218M

2017

Mar 30, 2018

$198M

$240M

2016

Mar 31, 2017

$209M

n/a

$302M

2015

Mar 30, 2016

$296M

n/a

$344M

2014

Mar 31, 2015

$481M

n/a

$754M

2013

Mar 28, 2014

$329M

n/a

$596M

2012

Mar 27, 2013

$457M

n/a

$192M

2011

Mar 28, 2012

$118M

n/a

$129M

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2019

$127M

$187M

-32.0%

$209M

-15.3%