Financial Matters

There are, of course, the financial matters involved in becoming a share holder:

1. Basic monthly member dues
2. Hourly costs to fly the corporate aircraft
3. 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 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 flys.

The hourly costs are responsive to the 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 75% of the operating cost. As fuel prices change, the hourly costs must also change.

The monthly dues are $120.00 payable on the first of each month. The current hourly rate is $112.00 per tach hour for the Piper Cherokee 180. It is anticipated there will be some changes in these costs as our expenses increase.

The aircraft is fully paid for. The Piper Cherokee 180 has a Vref value of about $60,000 (October, 2021), based on engine times, avionics, logged histories, etc. The club also maintains cash on hand for overhauls, unexpected maintenance and other reasons.

Shares may be purchased from withdrawing share holders. Please contact us if you are interested in purchasing a share.