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. Inglewood deposit return: The Inglewood closeout forecast expected 49, 425–50,000 deposit return in January 2025 (per Inglewood Closeout sheet). It is not confirmed in the SM operating data whether this was received and how it was booked.
4. 2025 Monthly P&Ls (Feb–Sep 2025) not found: P&Ls jump from the Q1 2025 Budget v Actual reports directly to February 2026. The months February–September 2025 have Stripe data but no standalone P&L statements in this bundle.
5. 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.
6. 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.
7. 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: