Financial Statements

In accordance with STEER’s statement of accountability the following is the balance sheet for the fiscal year ending June 30, 2020 and June 30, 2019.  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, 2020June 30, 2019
CURRENT ASSETS
Cash & Cash Equivalents  
Operations906,818832,046
Gift Annuity8,89710,525
Total Cash & Cash Equivalents915,715842,571
 
Agricultural UNIT Inventory, net219,081262,353
Prepaid Expenses12,96712,128
   Total Current Assets1,147,7631,117,052
 
Assets Limited as to Use  
Cash & Cash equivalents  
Mission500,489350,089
Insurance458,032457,749
Total cash & equivalents958,521807,838
 
Investments
Dedicated Operations2,192,2332,143,820
Annuity147,819149,486
Total Investments2,340,0522,293,306
   
Total Assets limited as to use3,298,5733,101,144
   
Property and Equipment  
Land72,00072,000
Office Equipment75,25375,253
Trucking Assets57,52457,524
 204,777204,777
   
Less accumulated depreciation125,503121,297
 79,27483,480
   
Agricultural Unit production assets, net of calf reduction of $81,388 in 2019 and $125,139 in 2018.1,392,9291,500,057
 1,472,2031,583,537
   

Total Assets

$5,918,539

$5,801,733

Liabilities and Net Assets

June 30,
2020
June 30,
2019
Current Liabilities
Accounts Payable$26,969
$23,650
Gift Annuity Payable1,9763,396
   
   Total Current Liabilities28,94527,046
   
Long-Term Liabilities  
Long-term gift annuity payable6,0168,727
   
   Total Liabilities 34,961 35,773
 
Net Assets
Without donor restrictions
   Designated4,218,6704,200,486
   Undesignated972,090904,004
 5,190,7605,104,490
With donor restrictions  
Purpose restriction (building)39,40539,405
Perpetual in nature (endowment)653,413622,065
 692,818661,470
Total Net Assets5,883,5785,765,960
   
 Total Liabilities and Net Assets$5,918,539$5,801,733