Fireside Aviators Association

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Financial Matters

(Dues & Hourly Costs)

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, oil sample kit and oil change labor costs
  • air filter and labor to change it
  • overhaul reserves

The major portion of the hourly costs is fuel. The fuel accounts for 75% of the operating cost. As fuel prices change, the hourly costs must also change.

As of May, 2016, the monthly dues are $100.00 payable on the first of each month. The current hourly rate is $84.00 per tach hour for the Piper Cherokee 180. It is anticipated there will be some changes in these costs as our expenses increase.

As of March, 2017, the membership voted to upgrade the avionics in the aircraft. To pay for this upgrade each member will be assesed $200 per month from May, 2017 through October, 2017. The assesment is in addition to the dues.

This assesment does not cover the full expense of the upgrade, however, we have been "saving" up for the required ADS-B upgrade for a few years and there is enough in that fund to cover the remaining cost of the avionics upgrade.

The aircraft is fully paid for. The Piper Cherokee 180 has a Vref value of about $40,000 (June, 2010), 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. The current share price is $4,500. This amount will soon increase to around $5,500 account for the increased value of the aircraft due to the avionics upgrade. Please contact us if you are interested in purchasing a share.