Forming a non-profit flying club can be done in an ad-hoc manner and succeed, but to avoid surprises I’ve attempted to compose a checklist that covers the main tasks that need to be performed.
The tasks in this checklist need not, and likely wont, be done in the order shown. It is also probably missing tasks that will be discovered during the process.
- Recruit founding members and begin online discussions on checklist items.
- Schedule an in-person formation meeting at which initial board and officer members may be selected.
- Determine common mission requirements and minimum acceptable airplane model to lease, buy, or build that meets those requirements.
- Develop preliminary expenses and member joining, monthly, and hourly estimates.
- Select a home airport.
- Fine tune expenses and income.
- Get quotes on insurance.
- Find available hangar space and get quotes. Determine tie-down fees as alternate.
- Update member joining, monthly, and hourly fee estimates.
- Prepare a preliminary four year budget.
- Select postal mail address for official corporate correspondence.
- Compose and adopt articles of incorporation, bylaws, membership application form, and operating rules. And any other paperwork that pops up.
- File for incorporation with SD. Apply for IRS EIN. File IRS Form 1024 for 501(c)(7) tax exemption.
- Develop a reminder system for periodic filings and payments so responsible officers can more easily execute their assigned duties.
- Collect initial joining fee checks from founding club members.
- Open an account in the club’s name at a credit union or bank.
- Purchase or lease first club airplane.
- Purchase club insurance.
- Rent a hangar if one has been found.
- Select scheduling and other software that aids club management.
- Update member fees based on known expenses. Revisit annually or as needed.
- Schedule transition training for all members to new airplane.
- Continue marketing for more members.
- Fly.
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