Financial Matters
(Dues & Hourly Costs)
There are, of course, the financial matters involved in becoming a shareholder:
- Basic monthly member dues
- Hourly costs to fly the corporate aircraft
- Purchase cost of a share
Items 1 and 2 are figures that are constantly being revised by our Treasurer, with the concurrence of the members, to maintain the corporation on a fiscally sound and realistic basis. The monthly dues pay for:
- Insurance for the aircraft
- Rental of the hangar/shelter space
- Aircraft taxes and registration fees
- Annual inspections
- Required avionic and instrument checks
- GPS database update subscription
In other words, the dues cover the fixed costs of the corporation whether or not the aircraft is flown.
The hourly costs are responsive to ever-changing variable costs. They include:
- Fuel
- Oil, oil filter, and oil change labor costs
- Air filter and labor to change it
- Overhaul reserves
The major portion of the hourly costs is fuel. Fuel accounts for a significant share of the operating cost. As fuel prices change, the hourly rates must also change.
The monthly dues are $140, payable on the first of each month. The current hourly rate is $119 per tach hour for the Piper Cherokee 180. It is anticipated that there will be adjustments to these costs as expenses increase over time.
The aircraft is fully paid for. The Piper Cherokee 180 has a Vref value of about $100,000 (April 2023), based on engine times, avionics, logged histories, etc. The club also maintains cash on hand for overhauls, unexpected maintenance, and other operational needs.
Shares may be purchased from withdrawing shareholders. Please contact us if you are interested in purchasing a share.