Financial Statements

In accordance with STEER’s statement of accountability the following is the balance sheet for the fiscal year ending June 30, 2022 and June 30, 2021.  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.

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Assets

June 30, 2022June 30, 2021
CURRENT ASSETS
Cash & Cash Equivalents
Operations974,432927,217
Gift Annuity5,7217,202
Total Cash & Cash Equivalents980,153934,419
Agricultural UNIT Inventory, net238,812192,187
Prepaid Expenses12,23713,045
   Total Current Assets1,231,2021,139,651
Assets Limited as to Use
Cash & Cash equivalents
Mission790,989664,438
Insurance442,124449,191
Total cash & equivalents1,233,1131,113,629
Investments
Dedicated Operations2,596,6882,773,969
Annuity183,561194,950
Total Investments2,780,2492,968,919
Total Assets limited as to use4,013,3624,082,548
Property and Equipment
Land72,00072,000
Office Equipment65,25975,253
Trucking Assets57,52457,524
194,783204,777
Less accumulated depreciation121,850129,414
72,93375,363
Agricultural Unit production assets, net of calf reduction of $81,388 in 2019 and $125,139 in 2018.1,082,6991,255,874
1,155,6321,331,237

Total Assets

$6,400,196

$6,553,436

Liabilities and Net Assets

June 30,
2022
June 30,
2021
Current Liabilities
Accounts Payable$19,232
$22,836
Gift Annuity Payable1,5611,976
 
   Total Current Liabilities20,79324,812
  
Long-Term Liabilities 
Long-term gift annuity payable6,3775,569
 
   Total Liabilities 27,170 30,381
 
Net Assets
Without donor restrictions
   Designated4,539,8374,730,242
   Undesignated1,040,372992,789
5,580,2095,723,031
With donor restrictions 
Purpose restriction (building)39,40539,405
Perpetual in nature (endowment)753,412760,619
792,817800,024
Total Net Assets6,373,0266,523,055
 
 Total Liabilities and Net Assets$6,400,196$6,553,436