Westside Finances — Banking & Payouts
Overview
Centralizing Westside Kings & Queens financial operations. Stripe payouts are LIVE — connected to Marcus's bank account (manual schedule, standard method). Mercury upgrade still recommended for long-term scaling.
Revenue Streams
| Stream | Amount | Status | Notes |
|---|---|---|---|
| Tryout fee | $30/player | LIVE | Stripe checkout, Phase 6 |
| Jersey orders | $90/$130 | LIVE | Stripe checkout, Phase 11 |
| Monthly dues | $160-200/player/mo | NOT BUILT | Phase 14 — tiered: $200 standard, $180 LCA, $160 Cyprus girls |
| Split payment | $100×2 | NOT BUILT | Phase 14 — beginning + end of month option |
| Coach payouts | Stripe Connect | NOT BUILT | Phase 17 |
Uncollected Revenue
50+ boys registered at $200/mo = $10,000+/month sitting on the table until Phase 14 (Billing Tiers & Contracts) ships. Every day without recurring billing ≈ $330 uncollected.
Business Bank Account — Decision
Comparison (March 2026)
| Mercury | Relay | Novo | |
|---|---|---|---|
| Sole prop? | <strong>NO</strong> — LLC/Corp required | Yes (SSN only) | Yes (SSN only) |
| EIN required? | Yes | No (optional) | No (SSN works) |
| Monthly cost | Free (Pro $35/mo) | Free (Pro $30/mo) | Free |
| FDIC coverage | <strong>$5M</strong> (sweep) | $3M (sweep) | $250K |
| Checking accounts | Unlimited | 20 (10 sole prop) | 1 |
| API access | <strong>Full REST API</strong> | Limited (Plaid/Yodlee) | Via Zapier |
| Stripe integration | Native + API | Manual (acct/routing) | Direct connection |
| Treasury yield | <strong>3.9% on balance</strong> | None (free tier) | None |
| Scale ceiling | Venture-backed startups | SMBs up to $6M | Solo operators |
Recommendation: Mercury
Best scalability — full API, $5M FDIC, 3.9% yield on idle cash, grows from youth org to multi-program operation. Requires LLC + EIN.
Action Plan
Prerequisites (need Marcus input)
- Question: Is Westside Kings & Queens already an LLC or operating as sole prop?
- If sole prop, file Utah LLC online ($56, same-day processing at Utah.gov)
- Get EIN at irs.gov (instant, free, 5 minutes) — needs SSN of responsible party
Steps
- Confirm or file LLC
- Get EIN (if not already have one)
- Apply for Mercury (approved in hours)
- Connect Stripe payouts to Mercury (daily or weekly auto-deposit)
- Set up expense tracking — all business expenses paid from Mercury account
Fallback
If LLC feels like too much right now: open Relay (works with sole prop, 10 min, free). Migrate to Mercury once LLC is filed.
Money Flow (Current State)
Key Insight
The LLC isn't just for Mercury — it's liability protection. Youth sports org without LLC = Marcus personally liable if a kid gets hurt. The $56 filing is the cheapest insurance policy he'll ever buy. EIN also unlocks business credit cards for automatic expense paper trail.
Payout Log
| Date | Amount | Description | Payout ID | Status |
|---|---|---|---|---|
| 2026-02-28 | $40.00 | Gym deposit | po_1T5ta7...4I6odNaS | paid |
| 2026-03-27 | $1.00 | Test standard payout | po_1TGlmd...lC4WYe8L | paid |
| 2026-03-27 | $40.00 | Marcus birth certificate order - PA Vital Records - DoorDash onboarding | po_1TGm7A...z1vkCSP5 | paid |
| 2026-03-27 | $70.00 | LLC filing + birth cert + buffer - Marcus DoorDash onboarding | po_1TGmYb...GanzUFqp | paid |
| 2026-04-03 | $100.00 | Jersey deposit - $100 to Marcus for Phil | po_1TIFNe...cckpQzsv | pending |