Financial Statements

In accordance with STEER’s statement of accountability the following is the balance sheet for the fiscal year ending June 30, 2018 and June 30, 2017.  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,

2018

June 30,

2017

CURRENT ASSETS
Cash & Cash Equivalents $2,338,173 $2,094,049
Agricultural UNIT Inventory, net 272,681 263,854
Prepaid Expenses 11,513 12,147
   Total Current Assets 2,622,367 2,370,050
 INVESTMENTS & OTHER ASSETS
Total Investments and Other Assets 1,344,733 1,255,909
PROPERTY & EQUIPMENT
Land 72,000 72,000
Office Equipment 75,253 75,253
Trucking Assets 57,524 57,524
   Subtotal 204,777 204,777
Less Accumulated Depreciation 116,639 110,625
   Subtotal 88,138 94,152
Agricultural UNIT Production Assets 1,504,114 1,663,938
   Subtotal 1,592,252 1,758,090

TOTAL ASSETS

$5,559,352

$5,384,049

LIABILITIES & NET ASSETS

June 30,
2018
June 30,
2017
CURRENT LIABILITIES
Accounts Payable $22,620
$19,238
Gift Annuity Payable 4,748
5,058
Accrued Payroll Taxes
766
   Total Current Liabilities 27,368 25,062
LONG-TERM GIFT ANNUITY PAYABLE 13,875
16,761
DUE TO FRIENDS OF ISRAEL GOSPEL MINISTRY
   Total Liabilities  41,243  41,823
NET ASSETS
Unrestricted
   Designated 4,117,993 4,038,435
   Undesignated 817,673 774,348
Temporarily Restricted 39,405  39,405
Permanently Restricted 543,038 490,038
   Subtotal 5,518,109 5,342,226

TOTAL LIABILITIES & NET ASSETS

$5,559,352

$5,384,049