On July 27, 2000, at 1505 central daylight time, a Cessna 172B, N7501X, sustained substantial damage when it exited runway 22 during landing at the Olney Municipal Airport, near Olney, Texas. The airplane was owned and operated by the pilot under 14 Code of Federal Regulations Part 91. The private pilot received serious injuries and his passenger received minor injuries. Visual meteorological conditions prevailed for the personal cross-country flight which departed Fort Worth, Texas, at 1400. The passenger reported that the airplane was approximately 20 feet agl when a wind gust moved the airplane to the right of the runway centerline and off the runway. During the pilot's attempt to correct the flight path, the airplane flew into a hay bale. Another pilot on the airport witnessed the airplane flare "high, bounce, exit the runway, hit the hay bale, and flip to the inverted position." The airport manager reported the winds were from 168 degrees at 15 knots gusting to 20 knots. The FAA inspector, who responded to the site, found the propeller and crankshaft bent. The engine mount was separated and the nose gear collapsed. Structural damage was noted at the wing strut, vertical stabilizer, and rudder.