At 0834 Eastern time, the airplane sustained substantial damage when it impacted terrain about 120 feet short of the runway during an attempted go-around. The private pilot and two passengers were not injured, but a third passenger received serious injuries. Visual conditions prevailed. After executing the GPS-A instrument approach and circling to align the airplane with the runway, the airplane was maintaining about 90-85 KIAS and descending at about 400 fpm. About mile from the runway, the pilot thought the airplane was too high, but “a few seconds later” the airplane felt like it “literally just dropped out of the sky.” He immediately applied full power and pitched the nose up to perform a go-around, but “the application of power was too late” and the left main landing gear struck the ground about 120 feet from the runway threshold. The airplane came to a stop about 120 feet beyond the runway threshold on the left side of the runway.