I don't think that's how it works. The app is essentially an alternative view to what you see via web. You could restrict your web site content (or parts of it to subscribers), and then I believe that would carry over to the app. But, as of right now, the app doesn't have separate permission controls, so if a regular member can see something on your site, they'll see it on the app.
Right now, the app is not specific to your community, and does not support any ad revenue. If you make it available, whoever uses it will get an ad free experience.