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FINANCIAL STATEMENTS
In accordance with
STEER's statement of accountability the following is
the balance sheet for the fiscal year ending June
30, 2011 and June 30, 2010. STEER
has been a
member of the Evangelical Council for Financial
Accountability since 1987. This organization requires STEER to
maintain the highest level of integrity with it's
financial records. This includes an audit by a
Independent Certified Public Accounting Firm on an
annual basis.

|
ASSETS |
June 30, 2011 |
June 30, 2010 |
|
CURRENT ASSETS |
|
Cash & Cash Equivalents |
$1,232,740 |
$1,221,552 |
|
Agricultural UNIT Inventory, net |
283,274 |
244,196 |
|
Prepaid Expenses |
6,033 |
6,143 |
|
Total Current Assets |
1,522,047 |
1,471,891 |
|
INVESTMENTS &
OTHER ASSETS |
|
Other Investments |
827,344 |
665,452 |
|
Gift Annuity |
59,900 |
46,527 |
|
Total Investments and Other Assets |
887,244 |
711,979 |
|
PROPERTY &
EQUIPMENT |
|
Land |
72,000 |
72,000 |
|
Office Equipment |
94,987 |
82,074 |
|
Trucking Assets |
58,269 |
58,269 |
|
Subtotal |
225,256 |
212,343 |
|
Less
Accumulated Depreciation |
105,738 |
102,626 |
|
Subtotal |
119,518 |
109,717 |
|
Agricultural
UNIT Production Assets |
1,496,322 |
1,494,166 |
|
Subtotal |
1,615,840 |
1,603,883 |
|
TOTAL ASSETS |
$4,025,131 |
$3,787,753 |
| |
|
LIABILITIES & NET ASSETS |
|
CURRENT
LIABILITIES |
|
Accounts Payable |
$31,346 |
$27,887 |
|
Gift Annuity Payable |
10,699 |
10,699 |
|
Accrued Payroll Taxes |
711 |
660 |
|
Total Current Liabilities |
42,756 |
39,246 |
|
LONG-TERM GIFT
ANNUITY PAYABLE |
36,787 |
39,157 |
|
DUE TO FRIENDS
OF ISRAEL GOSPEL MINISTRY |
7,371 |
7,453 |
|
Total Liabilities |
86,914 |
85,856 |
|
NET ASSETS |
|
Unrestricted |
|
|
Designated |
3,268,668 |
3,053,443 |
|
Undesignated |
322,538 |
305,797 |
|
Temporarily Restricted |
61,517 |
61,763 |
|
Permanently Restricted |
285,494 |
280,894 |
|
Subtotal |
3,938,217 |
3,701,897 |
|
TOTAL
LIABILITIES & NET ASSETS |
$4,025,131 |
$3,787,753 |
2010 - 990 Form for year ended June 30, 2011
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