BEFCSTL Timeline

1
BEFC-STLGeneral Membership Meeting18MAY05
2
BEFC-STL General Membership Meeting 18MAY05
Clubs 1 Goal To Fly by the 4th of July (2005)
3
BEFC-STL General Membership Meeting 18MAY05

• Board of Directors
• President - Alex Baldwin
• Vice President - Allen Sebaugh
• Secretary - Mike Landgraf
• Treasurer - Teresa Camp
• Operations - Zachary Williams
• Safety - Jose Narvez

4
BEFC-STL Timeline
BEFC-STL General Membership Meeting 18MAY05

• General Membership Meetings
• 06APR05 Initial Meeting
• 20APR05 Membership Launch
• 18MAY05 Club Status Report

• Board of Directors Meetings
• 26APR05 Initial Board Meeting
• 03MAY05 Review Cost Data
• 10MAY05 Review Search Committee Data
• 17MAY05 General Membership Update

5
BEFC-STL General Membership Meeting 18MAY05

• Club Membership
• 24 people applied for membership
• 41 total people have shown interest
• Information exchange will improve
• Review master E-Mail list after the meeting

6
BEFC-STL General Membership Meeting 18MAY05

• Information Distribution
• Establish home E-Mail list
• Distribute BOD minutes
• Distribute General Membership minutes
• Post to web

7
BEFC-STL General Membership Meeting 18MAY05

• Search Committee
• Formed 26APR05
• Aircraft Checklist in Work
• Procedure Checklist in Work
• Established aircraft checkout requirements
• Review Initial list of 11 aircraft
• Narrowed down to three aircraft
• General Membership to review

8
BEFC-STL General Membership Meeting 18MAY05
1977 /733TF Shepherdsville, KY
TT 4260 SMOH 546 52,900
9
BEFC-STL General Membership Meeting 18MAY05
1971 / 7766G West Helena, AK
TT 3100 SMOH 560 52,900
10
BEFC-STL General Membership Meeting 18MAY05
1973 / 20152 KENNET, MO
TT 6500 SMOH 0 58,000
11
BEFC-STL General Membership Meeting 18MAY05

• Finance Committee
• Formed 26APR05
• Selected Bank of America (BoA)
• Compiled multiple What If cost analysis
• Review of insurance companies
• Review Finance Options
• BoA Loan
• Promissory Notes
• Member Finance

12
BEFC-STL General Membership Meeting 18MAY05
Treasurers Report
Members are encouraged to setup their own BofA to
save money

• Setup Accounts with Bank of America
• Free Checking Interest Earning Savings
• Free E-Bill Pay
• Free EFT between BofA Accounts
• Requested Credit Card for short term credit
• Setup PayPal Account
• Each transaction costs 2.2 0.30 per
  transaction
• Costs will be billed back to users
• https//www.paypal.com/us/ teresa.a.camp_at_boeing.c
  om
• Setup Accounts for Management in Quicken

13
Balance Sheet
BEFC-STL General Membership Meeting 18MAY05
14
Financing Issues
BEFC-STL General Membership Meeting 18MAY05

• Plan A Bank Loan 10 down, 15 yrs
• Need Person to Co-sign for Loan
• Does not affect your credit rating until and
  unless the club defaults Bank expects you to
  assume ownership of the Aircraft and continue
  paying
• Plan B Member(s) Loan to BEFC-STL
• Need Person(s) to put up 50K
• BoD will pay market interest rate over 15 yrs
• Plan C BEFC-STL member(s) pay full share
• Divide aircraft procurement costs between all
  members
• Increases Share cost to 2,500 depending on
  total amount needed and of
  members

Volunteers?
Volunteers?
Default
15
Fees Approved by BoD - May 10, 2005
BEFC-STL General Membership Meeting 18MAY05

• 25 application fee (non refundable)
• 700 share price (refundable, charter members)
• 750 share price (refundable, on or after
  7/1/05)
• 60 monthly dues (depends on financing approach
  can be prorated with start date)
• 46 hourly plane rate (depends on aircraft may
  change)
• Charter members are those who purchase a share
  prior to 7/1/05. These members will own a share
  at a discount of 50. Any member may request to
  redeem only their shares paid in, plus
  assessments as approved by the BoD. No member
  may sell their share on the open market. The BoD
  may opt to hold onto share dollars until a
  replacement member can be established. Ownership
  Shares are all equal, even if the amount paid
  over time may change. Regardless, each owner is
  only entitled to what shares they paid in.