Financial Statements

In accordance with STEER’s statement of accountability the following is the balance sheet for the fiscal year ending June 30, 2019 and June 30, 2018.  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, 2019

June 30, 2018

CURRENT ASSETS
Cash & Cash Equivalents    
Operations 832,046 740,642
Gift Annuity 10,525 12,845
Total Cash & Cash Equivalents 842,571 753,487
 
Agricultural UNIT Inventory, net 262,353 272.681
Prepaid Expenses 12,128 11,513
   Total Current Assets 1,117,052 1,037,681
 
Assets Limited as to Use    
Cash & Cash equivalents    
Mission 350,089 335,704
Insurance 457,749 467,034
Total cash & equivalents 807,838 802,738
 
Investments
Dedicated Operations 2,143,820 1,979,201
Annuity 149,486 147,480
Total Investments 2,293,306 2,126,681
       
Total Assets limited as to use 3,101,144 2,929,419
       
Property and Equipment    
Land 72,000 72,000
Office Equipment 75,253 75,253
Trucking Assets 57,524 57,524
  204,777 204,777
     
Less accumulated depreciation 121,297 116,639
  83,480 88,138
     
Agricultural Unit production assets, net of calf reduction of $81,388 in 2019 and $125,139 in 2018. 1,500,057 1,504,114
  1,583,537 1,592,252
     

Total Assets

$5,801,733

$5,559,352

Liabilities and Net Assets

June 30,
2019
June 30,
2018
Current Liabilities
Accounts Payable $23,650
$22,620
Gift Annuity Payable 3,396 4,748
     
   Total Current Liabilities 27,046 27,368
     
Long-Term Liabilities    
Long-term gift annuity payable 8,727 13,875
     
   Total Liabilities  35,773  41,243
 
Net Assets
Without donor restrictions
   Designated 4,200,486 4,117,993
   Undesignated 904,004 817,673
  5,104,490 4,935,666
With donor restrictions    
Purpose restriction (building) 39,405 39,405
Perpetual in nature (endowment) 622,065 543,038
  661,470 582,443
Total Net Assets 5,765,960 5,518,109
     
 Total Liabilities and Net Assets $5,801,733 $5,559,352