On June 30, 2012, about 2030 central daylight time, a Cessna 172 airplane, N73182, impacted a field shortly after departure from a private airfield near Griswold, Iowa. The private rated pilot and passenger received serious injuries and the airplane sustained substantial damage. The airplane was registered to and operated by a private individual. Day visual meteorological conditions prevailed and no flight plan was filed for the 14 Code of Federal Regulations Part 91 flight. The pilot departed from a 2,500 foot airstrip, with several other airplanes to perform a water balloon drop. The airplane made two passes over the airstrip for the balloon drop before returning to land. The pilot reported that during the landing, the setting sun, shadows from the crops, and the barn affected his vision, and he landed long and fast. As the end of the airstrip approached, he applied power for a go-around. The pilot added that the engine did not produce power; the airplane went airborne, he turned left, but could not hold altitude. The airplane impacted a field just south of the airstrip. Witnesses reported that the airplane pulled up and then stalled, or got slow and then stalled in the turn. A Federal Aviation Administration inspector and a technical representative from the airframe manufacturer responded to the accident site. The airplane’s control continuity and the presence of fuel were confirmed on-site. The FAA inspector added that a witness reported that the engine maintained power throughout the accident sequence. An examination of the engine by the inspector and technical representative did not reveal any preimpact abnormalities. The inspector added that both blades of the fixed pitch propeller had leading edge polishing with one blade twisted back, towards the airframe. During the crash, the airplane sustained heavy impact damage including nearly severing the fuselage just aft of the cabin area.