What happened
The FAA’s narrative, in sentence case. The FAA writes it in capitals and removes private details.
(-23) The instructor and pilot were conducting an instrument training flight and on their second approach (VOR 27) into Medina airport (1G5) they "got behind the airplane" and were late to configure leading to an unstabilized approach (high and fast). The original intent was to conduct a touch and go out of the approach. The airplane floated resulting in a touchdown approximately 1500 feet from threshold, leaving 1900 feet for the completion of the touch and go. The student added power and then retracted the flaps but felt that the airplane was not flying and in a stalled condition so he retarded the throttle and elected to abort the takeoff. The instructor took over the controls and attempted to make the turnoff on the runway but realized that they were not going to make it so the aircraft continued straight ahead and ended up off the end of the runway. The airplane hit a runway light causing minor damage to the left wing strut and left wheel strut (from pilot perspective). Also damaging the runway light.
As the FAA filed it
(-23) THE INSTRUCTOR AND PILOT WERE CONDUCTING AN INSTRUMENT TRAINING FLIGHT AND ON THEIR SECOND APPROACH (VOR 27) INTO MEDINA AIRPORT (1G5) THEY "GOT BEHIND THE AIRPLANE" AND WERE LATE TO CONFIGURE LEADING TO AN UNSTABILIZED APPROACH (HIGH AND FAST). THE ORIGINAL INTENT WAS TO CONDUCT A TOUCH AND GO OUT OF THE APPROACH. THE AIRPLANE FLOATED RESULTING IN A TOUCHDOWN APPROXIMATELY 1500 FEET FROM THRESHOLD, LEAVING 1900 FEET FOR THE COMPLETION OF THE TOUCH AND GO. THE STUDENT ADDED POWER AND THEN RETRACTED THE FLAPS BUT FELT THAT THE AIRPLANE WAS NOT FLYING AND IN A STALLED CONDITION SO HE RETARDED THE THROTTLE AND ELECTED TO ABORT THE TAKEOFF. THE INSTRUCTOR TOOK OVER THE CONTROLS AND ATTEMPTED TO MAKE THE TURNOFF ON THE RUNWAY BUT REALIZED THAT THEY WERE NOT GOING TO MAKE IT SO THE AIRCRAFT CONTINUED STRAIGHT AHEAD AND ENDED UP OFF THE END OF THE RUNWAY. THE AIRPLANE HIT A RUNWAY LIGHT CAUSING MINOR DAMAGE TO THE LEFT WING STRUT AND LEFT WHEEL STRUT (FROM PILOT PERSPECTIVE). ALSO DAMAGING THE RUNWAY LIGHT.