On August 15, 2021, about 1630 central daylight time, a Flying K Enterprises Sky Raider airplane, N56179 was substantially damaged when it was involved in an accident near Augusta, Kansas. The pilot sustained serious injuries. The airplane was operated as a Title 14 Code of Federal Regulations Part 91 personal flight. The pilot reported the preflight inspection, engine start, taxi runs, and run-up were normal. The takeoff ground run was about 250 ft, and the pilot established an initial climb at 50 mph. Shortly afterward, the engine speed dropped from 6,000 rpm to about 5,000 rpm. He lowered the nose and entered a shallow turn toward a field, the engine speed dropped to “almost nothing” but it did not quit altogether. About 150 ft above ground level, the pilot lowered the nose further but was only able to gain sufficient airspeed to “flatten the descent” before impact. The airplane came to rest upright in an open field. Both main landing gear collapsed, and the lower fuselage was damaged resulting in substantial damage to the airplane. A postaccident engine examination did not identify any anomalies consistent with an inability to produce rated power. The engine had been removed from the airframe, and the wings removed from the fuselage to facilitate recovery from the accident site and initial repairs. As a result, a comprehensive examination of the airframe fuel system could not be conducted. The engine utilized dual, slide-type carburetors which are unlikely to accumulate ice.