12 d
We have had two donors so far.
We need to set up a committee to manage this.
Maybe elected.
I suggest being on the news letter for over a year.
Who wants to run?
Make rules and set up a trust fund.
Anonymous or otherwise?
I think the donors should be refunded in case nothing happens for what ever
reasons..
Any suggestions?
Paul Lamar
Hi Paul,
I have been seriously considering something like this. Even buying the plane myself
outright and seeking sponsors. Given the success so far it should be possible to
find some sponsors, get TV coverage, have the project pay for itself... Ideally, all
contributors would get their money back. We could possibly collect money from
Gofundme, and/or sell shares in a corporation. Nonprofit?? If we never reach the
funding goal to buy the plane and find a sponsor, then donors would get all money
back. Share holders could even have a say in how things are done. If I get to fly
it, I would obviously be a major donor (share holder). (Not to mention going on a
diet immediately - I could get down to 170. How much does Dan weigh?)
How much do you think it would cost to buy the plane? Would he be willing to sell it
at a discount if it came with the first right of buy-back or a stipulation that it be
donated? Ongoing costs would include storage, transfer and property taxes. We would
have to have a fund to cover that and move quickly on the project before those
expenses grew too large. Maybe get it moved out of CA to minimize taxes and
storage? Is there any more work that needs to be done that needs to be budgeted
for? Like adding a removable oil cooler to allow cross country flights? Cost of a
new prop? Craig Cato can sometime add a little pitch to existing props - he did it
to mine.. didn't cost much.
Next attempt it should be all painted (paid for by the sponsors), and filmed (revenue
generating).
After we get some idea of the a necessary budget, we could issue an appropriate
number of voting (or non-voting) shares. we could vote on what threshold needs to be
be reached to proceed, and possibly incorporate at that time. We could elect a
governing board and pilot, a name for the enterprise etc...
Do you think Mazda would kick in? ;-)
Dave Leonard
I don't think so.
Paul Lamar
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