On June 19, 2014, about 1200 central daylight time, a Gulfstream Schweizer G-164C (Grumman Ag-Cat) airplane, N7501Z, was substantially damaged when it impacted terrain after takeoff from a private airstrip near Beech Grove, Arkansas. The pilot was not injured. The airplane was registered to and operated by HDS Inc. under the provisions of 14 Code of Federal Regulations Part 137 as an aerial application flight. Visual meteorological conditions prevailed for the flight, which was not operated on a flight plan. The local flight was originating at the time of the accident.The pilot reported he took off to the north from a 2,500-foot long asphalt runway, with 2,500 lbs. of fertilizer on-board. He added that there was a south wind from about 220 degrees at 10 to 15 miles per hour. The takeoff was normal; however, shortly after lifting off, the airplane began to settle back toward the ground. The pilot started to dump the fertilizer load, but he was unable to recover. The airplane subsequently settled onto the ground and encountered a rice levee. The airplane sustained substantial damage to the wings. The pilot noted that the accident might have been prevented by paying closer attention to density altitude. The accident airplane was powered by a 600-shaft horsepower Garrett model TPE-331-10 turboprop engine. The maximum gross weight for the airplane was 8,625 lbs. The pilot reported that the airplane weight at the time of the accident takeoff was 7,125 lbs. He stated that there were no mechanical failures or malfunctions associated with the airplane prior to the accident. Weather conditions recorded at the Jonesboro Municipal Airport (JBR), located about 20 miles south of the accident site, at 1153, were: wind from 230 degrees at 8 knots; scattered clouds at 3,200 feet agl, scattered clouds at 3,900 feet agl; 10 miles visibility, temperature 30.0 degrees Celsius, dew point 22.2 degrees Celsius, altimeter 30.11 inches of mercury. The associated station pressure was 29.81 inches of mercury. The calculated density altitude was 2,205 feet. The Federal Aviation Administration (FAA) Pilot's Handbook of Aeronautical Knowledge (FAA-H-8083-25A) noted that density altitude represents pressure altitude corrected for nonstandard temperature. A decrease in air density corresponds with an increase in density altitude and a decrease in airplane performance. Density altitude is used in calculating airplane performance. The handbook also noted the effect of wind on takeoff distance is large, requiring proper consideration on takeoff performance. A tailwind of 10-percent of the takeoff airspeed will increase the takeoff distance approximately 21-percent.