Paramus Flying Club

“Expenses advertising and promotion 3,182 office 202 interest 8,292 insurance 20,922 aircraft maintenance 20,555 bad debt 1,588 bank charges 30 licenses and permits 55 fuel 25,889 gps updates 3,775 inspections 13,648 landing fees 422 oil 1,404 plane supplies 1,958 tie-downs 8,670 board expenses 961 website & other expenses 285 non-investment depreciation 48,498 total 160,336”

“New members' equity 30,500 member equity return -25,000 unrealized loss in investment -107”

“Accounts receivable 34,753 32,694 prepaid expenses and deferred charges 5,179 5,179 equipment 544,500 544,500 less accumulated depreciation 442,044 490,543 tie down deposits 830 0 total 143,218 91,830”

“Accounts payable and accrued expenses 547 1,274 deferred revenue 8,982 0 unsecured notes and loans payable 131,355 120,596”

“The primary purpose is to provide the members with the opportunity to fly in well maintained, mutually-owned aircraft for recreation at an affordable price. The organization also provides the members a chance to commingle and exchange flying experiences and knowledge in a pleasurable way.”