Annual report [Section 13 and 15(d), not S-K Item 405]

Document and Entity Information

v3.25.0.1
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2024
Mar. 10, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Period End Date Dec. 31, 2024    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Trading Symbol RAND    
Entity Registrant Name Rand Capital Corporation    
Entity Well-known Seasoned Issuer No    
Entity Central Index Key 0000081955    
Entity Current Reporting Status Yes    
Entity Voluntary Filers No    
Entity Interactive Data Current Yes    
Current Fiscal Year End Date --12-31    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Shell Company false    
Entity Emerging Growth Company false    
Entity Public Float     $ 12,480,000
Entity Common Stock, Shares Outstanding   2,969,814  
Title of 12(b) Security Common Stock, $0.10 par value    
Security Exchange Name NASDAQ    
Entity File Number 814-00235    
Entity Incorporation, State or Country Code NY    
Entity Tax Identification Number 16-0961359    
Entity Address, Address Line One 1405 Rand Building    
Entity Address, City or Town Buffalo    
Entity Address, State or Province NY    
Entity Address, Postal Zip Code 14203    
ICFR Auditor Attestation Flag false    
City Area Code 716    
Local Phone Number 853-0802    
Document Annual Report true    
Document Transition Report false    
Document Financial Statement Error Correction [Flag] false    
Auditor Firm ID 317    
Auditor Location Buffalo, New York    
Auditor Name Freed Maxick P.C. (F/K/A Freed Maxick CPAs, P.C.)    
Auditor Opinion

Opinion on the Financial Statements

We have audited the accompanying consolidated statements of financial position, including the consolidated schedules of portfolio investments, of Rand Capital Corporation and Subsidiaries (the Corporation) as of December 31, 2024 and 2023, and the related consolidated statements of operations, changes in net assets and cash flows and the related notes to the consolidated financial statements for each of the three years in the period ended December 31, 2024, and the financial highlights schedule for each of the five years in the period ended December 31, 2024 (collectively, the financial statements). In our opinion, the financial statements and financial highlights schedule present fairly, in all material respects, the financial position of Rand Capital Corporation and Subsidiaries as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2024, and the financial highlights for each of the five years in the period ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

   
Documents Incorporated by Reference

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Corporation’s definitive proxy statement for the 2025 Annual Meeting of Shareholders are incorporated by reference into Part III of this report.