Flying Club Costs

All,

We had an open house at our local airport here in Minden, NV (MEV) today.
It turns out there is a flying club based here that I didn't even know
about!

They have a late 60's 182 with a Pertesen conversion (260 HP, I think) and a
70's Grumman Tiger.
I think those are two great planes, but I was wondering a bit about the
costs.

They cost is $4000 to join (returned when you leave).
Then $179 monthly dues.
And then $80/hr wet rate for either plane.

At first I thought, well I pay $89/hr for a 172 rental right now.
$80/hr is a deal.
Then I added on the $179/mo.
If I only fly 50 hrs per year, my effective hourly rate is about $122.
If I fly 100 hrs per year my effective hourly rate is about $101.
That's not bad because I'd be able to take the plane on trips, etc.

What really got me thinking is, "Where does all the money go?"

There are 15 members of this club.
If each is paying $179/mo and flying 50 hrs/yr, then the club is bringing in
about $92K/yr.
So just for round numbers, let's assume each plane brings in about $50K/yr.

I then tried to estimate annual costs.
I tried to figure accurately or high on costs to give them the benefit of
the doubt.

Anually:
Insurance: $10K per plane
Maintenance: $10K per plane
Fuel/Oil: $13K per plane (400hrs x 2.75/gal x 12gal/hr)
Hangar: $3K per plane
Loan?: $10K per plane (not sure if there is a loan)
TOTAL: $46K

So, I guess I need more information, but it looks like I'm answering my own
question.
However, if there is $$$ left over, where does it usually go?
Is a flying club a "for profit" business?

Thanks,

Adam