For the record...
As there has been no comment for a couple of days, I would like to state that the club that I belong to (Good Hope Flying Club) has a properly managed excess fund, with written rules. After meeting its primary obligations to members, the funds secondary objective is to eventually help toward the club being self insured on some or all aircraft, as well as to help fund replacement aircraft. There is also a statement on the disposal of the surplus in the fund should it ever be wound up.