Posted: 6/1/2011 13:01:34
Members of EAA1114 have started restoration of a Stits SA7D Skycoupe:
Since the EAA will not allow the chapter to own the plane, we will form a Homebuilder / Aero Club to finance the effort and provide needed liability protection. We want members to be able to pay for future flying with sweat equity expended during the restoration.
Can anyone suggest boilerplate Bylaws for such an organization? It is more than the normal flying club. We are already talking about the next airplane after our Skycoupe is flying.
Thanks in advance for any ideas.
President, EAA1114, Apex, NC
Posted: 6/3/2011 00:33:08
I'm a board member of a club at Dupage County Airport in the Chicago suburbs. We are not an equity club so our monthly dues are strictly fixed costs--mostly tiedown/hanger rent and insurance. The first thing you should consider is it going to be an equity club or not. If it is, then you need to figure out how the sweat equity converts to money equity. Your hourly cost is mostly going to be fuel and maintenance. For budget, our club figures that the maintenance per hour is roughly equal to the fuel & oil, and half the maintenance is the engine overhaul/replace kitty.
If not an "equity" club, then you need to figure it like a leaseback, which is how our club operates, so the 'dry lease' covers both the maintenance and the capital costs. The fuel costs are fairly easy since you can pretty well calculate the average fuel burn times the cost of avgas or auto fuel.
I'm not sure if this helps.
Doug Drummond, International Flying Club board member at large.
Doug Drummond, International Flying Club
Posted: 6/3/2011 13:32:58
Thanks Doug, this is useful. We're looking also at local soaring clubs who allow members to credit working hours towards reduced cost of flying.