The decision to form a company with the name Aisling Árann Teoranta (The Aran Project) was made at a meeting on Inismór on the Halloween weekend of 1986. About twenty-five people attended. The company was formed in particular so that The Lodge in Killeany could be purchased and developed. It was also to facilitate fund-raising and the furtherance of our objectives more generally. Since then Aisling Árann Teoranta has been used to purchase and develop Killeany Lodge. As a voluntary organisation with charitable status it has been able to fund-raise, to apply for grants, and to operate government funded employment schemes. It has also received charitable status with the Bank of Ireland which has meant significant concessions on its accounts. Aisling Árann Teoranta has also developed an office and purchased a wide range of equipment. At time of writing (Spring 2005), Aisling Árann has four separate financial accounts:
It has full ownership of Killeany Lodge on an acre of land, but does not own anything else.