Accounting & Finance

Canonical reference synthesized 2026-05-06 from 265 source docs in ~/trc-drive-exec/Accounting/ and ~/trc-drive-exec/Finance/. Newer supersede older on all conflicts.

Overview

Tiny Room Studios LLC (d/b/a The Recording Club) is an LLC based at 1660 9th St, Santa Monica, CA 90404. Financial tracking runs primarily through QuickBooks (cash-basis accounting) and Stripe (all payment processing). Monthly P&L statements are produced in QuickBooks; Stripe data is reconciled in a separate monthly spreadsheet. The fiscal year follows the calendar year.

Two distinct financial "eras" exist in the records:

1. Inglewood era (2024): High startup/CapEx costs at the prior location; Inglewood revenue and expenses tracked separately.
2. Santa Monica era (Oct 2024–present): Current location at 1660 9th St; operational P&Ls begin October 2024.

Monthly Accounting Workflow

Stripe Monthly Accounting Process

Source: Accounting/Monthly Stripe Accounting/Stripe Monthly Accounting.docx (mtime 2025-10-02)

Each month the team pulls two Stripe reports:

1. Revenue Waterfall — Reports → Revenue Waterfall, date range 1st–30th/31st, using "Group report – custom column" with all options selected.
2. Payout Reconciliation — Reports → Payout Reconciliation, 1st to last of the month.

The raw Stripe export is then reformatted into a summary spreadsheet (one per month, filed under Accounting/Monthly Stripe Accounting/) that breaks out:

• Engineering fees (gross and net after Stripe fee)
• Membership fees by tier
• Events/special bookings
• Music lessons
• Parking
• Merch / vinyl / outside bookings
• Net totals per category and overall

A Sigma SQL query template also exists for generating charge-level reports directly from Stripe data.

QuickBooks P&L

Monthly P&L statements are pulled cash-basis from QuickBooks and saved as .xlsx under Finance/Profit and Loss Statements/. The CPA or internal bookkeeper reconciles against the Stripe summary. Payroll is run through QuickBooks Payroll.

Revenue Tracking

Revenue Categories (as codified in P&L)

Monthly Stripe Revenue Summary (newest-first)

Sources: Accounting/Monthly Stripe Accounting/ files, April 2026 through August 2025.

P&L Revenue (from QuickBooks, newest-first)

Sources: Finance/Profit and Loss Statements/ files; Finance/2024 Tiny Room Studios LLC P&L for Tax Preparation.xlsx.

Note on 2024: The full-year 2024 figure heavily includes Inglewood-era startup losses (~168Kstartupcosts)andInglewoodoperations(211K revenue but ~$279K Inglewood expenses). The Santa Monica location opened October 2024.

Q1 FY2025 Budget vs Actual (Nov 2024–Jan 2025)

Main Q1 revenue shortfalls: nearly zero non-member studio rentals, no special events, 11 scholarship memberships not captured in QB (Dennis-managed).

Source: Finance/Budget v Actual Reports/Q1 Budget v Actual Report.xlsx (mtime 2025-02-13).

Expenses

Monthly Expense Breakdown (from April 2026 P&L — most recent complete month)

Rent Structure

• Building lease (Brian Banks): $14,000/month base → increased to 16, 445.70–16,663.80 in recent months (additional rent/CAM)
• Property Tax (amortized): 982.30/month(11,787.60/year)
• Greg's apartment (Greystar): 3, 880–3,921/month (ongoing)
• Additional Rent / Insurance reimbursement: Varies; property tax amortization is $912.54/month (based on $10,950.48/year)

Sources: P&L statements; Finance/Estimated Operating Budget.xlsx; CapEx budget rent tabs.

Payroll & Compensation

• Payroll (W-2 wages + employer taxes): ~23, 000–28,500/month in 2026 (rising); ~21, 000–28,300/month in late 2024–early 2025
• 1099 Contract Labor: Maintenance contractors (1, 127–1,503/month), music lesson contractors, session engineers
• Key early contractors (pre-payroll, 2024):
  • Arturo Stable: $3,000 bi-weekly (COO/ops)
  • Rachel Rogers: $7,500 monthly (reduced to $5,600 in Nov 2024)
  • Kaury Hooper: $4,250/month
  • Jacob Dennis: $2,291.66/month

Source: Finance/2024 Startup and Organizational Costs Breakdown.xlsx; monthly P&Ls.

Utilities

• Electricity (SoCal Edison): 2, 508–2,881/month (running average); $2,780.76 in April 2026
• Heating/cooling: $980/month (April 2026)
• Internet (Frontier/other): ~105–132/month
• Security (Vivint/ADT): ~55–227/month
• Other utilities: ~115–230/month

Software & Subscriptions

From Finance/Subscriptions - TRC.xlsx (mtime 2026-03-08):

Additional recurring software costs (from P&Ls and startup breakdown):

• QuickBooks Online + Payroll: ~$250/month
• Google Workspace: ~185–210/month
• Notion: $48/month
• Mailchimp: $45/month
• Splice.com: $12.99/month
• ROSTR (music directory): $50/month
• Restream: $49/month
• Bitly: $35/month
• Zoom: $174.29/year (one-time in 2024)
• LinkedIn: $36/month

Monthly software total runs approximately 1, 836–3,673/month in 2026 P&Ls (admin + studio combined).

Food & Beverage / Meals

Mel's Drive-In is the dominant recurring meals vendor (multiple entries per week in 2024 startup phase, ~20–200 each). Meals run 850–1,500/month in operating months. Member events include food/bev costs (300–2,486/month).

Gym Equipment

A notable capital purchase: gym equipment for the facility totaling $3,636.09 (2024: $3,572.29; 2025: $63.80 barbell clips). Tracked in the CapEx budget. Breakdown in Accounting/Amazon gym equipment large purchase breakdown.xlsx.

Invoices & Receipts

Filing Structure

Receipts and invoices are organized by month and payment type:

• Accounting/Invoices & Receipts/MM/YYYY/Credit Card/ — Amazon, Best Buy, retailers
• Accounting/Invoices & Receipts/MM/YYYY/Bank Account/ (or Checking Account/) — wire transfers, Zelle payments, contractor invoices
• Accounting/Invoices & Receipts/Tiny Room Gives Invoices/ — inter-entity invoices

Files are named by date, vendor, and amount (e.g., 1.16.25 Eric Lloyd 1000.00.pdf).

Tiny Room Gives Inter-Entity Invoices

Recurring invoices from Tiny Room Studios LLC to Tiny Room Gives Inc. for full-facility Perception Box Night events:

• TRC-026 (May 27, 2025): $4,983.00
• TRC-027 (Jun 4, 2025): $5,000.00 — Full Facility Booking for 5/30 Shabbat Dinner
• TRC-028 (Jun 6, 2025): $4,983.00
• TRC-031 (Jun 25, 2025): $4,983.00

These are monthly recurring bookings of the full facility by the nonprofit affiliate.

Source: Accounting/Invoices & Receipts/Tiny Room Gives Invoices/.

Key Vendor Invoices (2024 Startup)

• Corporate DNA (LaLo): Renovation contractor; total contracted 124, 697.50; 95,896 spent as of closeout. Multiple phased payments tracked in CapEx spreadsheet.
• Eric Lloyd (Lloyd Production Studios): Renovation/engineering services; multiple invoices Aug–Nov 2024.
• Hollywood MI / Hollywood DJ: Audio equipment; multiple wire transfers totaling $55,000+.
• Harding Larmore Kutcher & Kozal LLP: Legal/licensing; $2,500 retainer + $4,300 + $637.50 = $7,437.50 (2024).
• Jenna Braun / West Elm: Furniture $11,431.38 (Sep 2024).
• Patrick Vadala: Studio computer $5,664.44.
• BlackMagic Design: Cameras $15,533.77 (Sep 2024).

Financial Reports & Statements

Reports That Exist

1. Monthly P&L (QuickBooks, cash basis): Filed as Finance/Profit and Loss Statements/[Month Year].xlsx. Available from November 2024 onward. Most recent: April 2026.
2. Monthly Stripe Accounting Report: Filed as Accounting/Monthly Stripe Accounting/[Month Year].xlsx. Available from August 2025 onward (earlier months use a different format). Most recent: April 2026.
3. Budget vs. Actual Reports: Filed as Finance/Budget v Actual Reports/. Available for Nov 2024, Dec 2024, Jan 2025, and Q1 2025 combined. Template also exists.
4. CapEx Budget (Santa Monica): Finance/Santa Monica CapEx Budget- MAIN.xlsx — tracks all capital expenditures against budget by category. Last updated Oct 2025.
5. 2024 P&L for Tax Preparation: Finance/2024 Tiny Room Studios LLC P&L for Tax Preparation.xlsx — full-year 2024 combined (Inglewood + SM + startup).
6. 2024 Startup & Organizational Costs Breakdown: Finance/2024 Startup and Organziational Costs Breakdown.xlsx — itemized transaction-level detail of all startup expenses.
7. 2024 Tools, Machinery & Equipment Breakdown: Finance/2024 Tools, machinery & equipment breakdown.xlsx — CapEx assets totaling $250,773.03 (Audio & Musical: $190,748.80; Computers & Tech: $26,394.70; Video: $27,470.08; Lighting: $5,709.45).
8. Stripe Payout Reconciliation: Finance/Stripe payouts 12.15.24-1.27.25.xlsx — itemized Stripe payout-level reconciliation with customer details, invoice numbers, and subscription IDs.
9. Estimated Operating Budget: Finance/Estimated Operating Budget.xlsx (mtime Nov 2024) — early operational model; estimated monthly total expenses ~$71,534.

Tax & Compliance

Sales Tax

• CDTFA (California Department of Tax and Fee Administration): Tiny Room Studios LLC has account number 242-385824 for Sales and Use Tax.
• A payment of $138.00 was submitted January 10, 2025 for the December 31, 2024 period (confirmation 0-046-472-257). Paid from Bank of America ****8395.

Income Tax / Annual Filing

• 2023 Taxes: Filed; document at Finance/Taxes/2023 TAXES TINY ROOM STUDIOS LLC.pdf (26.6 MB, likely a full return). Content not extractable (binary PDF).
• 2024 P&L for Tax Preparation exists (see above); 2024 net loss was approximately -$317,987.

Business Licensing

• Santa Monica Business License: $183.93 (Oct 2024)
• USPTO Trademark Application: $350 (Sep 2024)
• DBA Announcement (Santa Monica Daily Press): $80 (Sep 2024)
• Harding Larmore Kutcher & Kozal: Licensing/legal retainer and services 2024

Source: Finance/2024 Startup and Organziational Costs Breakdown.xlsx.

Banking, Cash Flow, Reserves

Bank Accounts

• Primary checking: Bank of America "Business Adv Fundamentals" account ending 8395 — main operating account; used for wire transfers, Zelle payments, payroll
• Savings: Bank of America "Biz Advantage Sav" account ending 2975 — used for some transfers
• Credit card: Ending 7576 — used for Amazon, Apple, Best Buy, retail purchases

As of January 29, 2025 (from CapEx Budget overview):

• Checking balance in QB: $66,833.29
• Savings balance: $7,226.12
• Total bank balance: $74,059.41
• Credit card balance: -$4,505.83
• Cash at hand: $69,553.58

Operations Reserve (CapEx Budget tracking)

The CapEx budget included a $250,000 Operations Reserve. Tracking shows:

• Oct 2024: +$11,858.19 net
• Nov 2024: -$47,087.19 net
• Dec 2024: -$79,890.93 net
• **2024 total ops reserve used: -115, 119.93 * *(remaining: 134,880 of original reserve)

CapEx — Total Santa Monica Build-Out

From Finance/Santa Monica CapEx Budget- MAIN.xlsx (mtime Oct 2025):

Total equity raised: 902, 500.TotalspentthroughOct2025: 856,937. Inglewood cost overrun: -13, 053.98(depositof 49,425 expected back).

Key Tools/Systems

Key Facts at a Glance

• Monthly revenue range (2026): 54, 000–71,400 gross (per QuickBooks P&L); 39, 000–43,000 Stripe net
• Monthly expense range (2026): 58, 000–68,000 (total expenses per P&L)
• Net operating income (recent months): Negative — April 2026: -6, 831; March2026 : −9,534; February 2026: -$15,800
• Standard membership fee: $450/month (Base); $1,800/month (Platinum/BBC)
• Stripe fee rate: ~2.9% + $0.30 per transaction (effective rate in reports ~2.7–3.3%)
• Building rent: ~16, 445–16,664/month + $982.30/month property tax amortization
• Greg's apartment rent: 3, 880–3,921/month (business expense)
• Payroll: ~23, 000–28,500/month in 2026
• CapEx total spent: ~$856,937 through Oct 2025 (out of $902,500 raised)
• Key vendors: Hollywood DJ (audio equipment), Corporate DNA/LaLo (renovations), Eric Lloyd (renovation/engineering), Harding Larmore Kutcher & Kozal (legal), Vintage King Audio (audio gear), QuickBooks, Stripe
• Sales tax account: CDTFA 242-385824
• 2024 full-year net loss: -$317,987 (heavily weighted by Inglewood operations and startup costs)

Open Questions / Contradictions

1. Scholarship dues gap: The Q1 2025 budget vs. actual notes consistently flag ~11 scholarship memberships managed by "Dennis" that are not captured in QuickBooks. Exact count and dollar value of these scholarships is unspecified in source files.
2. February 2026 Net Total discrepancy: The Stripe report shows both "Net Total $28,600.77" and "Net Total $34,100.77" in the same document — the higher figure appears to include a distribution account column. Canonical figure is unclear; use $28,600.77 (after all fees).
3. Gym equipment classification: The gym equipment purchase ($3,636) appears in both the CapEx budget (as a capital item) and may overlap with "Studio Supplies and Small Equipment" in the P&L. Treatment across QB and CapEx may be inconsistent.
4. Team incentive memo (Team Needs.docx): Filed under Monthly Stripe Accounting folder — references team requests (massages, DaVinci Pro, work computer) and a $500 bonus threshold that wasn't motivating. Context/disposition unclear; this appears to be a 2026-era ops document.
5. Rent escalation: Rent went from $14,000/month (early 2025) to 16, 445–16,664 by early 2026. The lease terms driving this increase are not detailed in accounting files.

Sources

Listed newest-first by modification date: