Dedicated Operations Fund
One of the exciting tools that has been developed to have a major impact on the funding of the daily operating expenses of the STEER ministry is the Dedicated Operations Fund.
In 2008 the Dedicated Operations Fund grew to the point where we were able to utilize interest income to reduce the percentage taken out of cattle sales thus enabling us to send even more money to the mission organizations that receive support from STEER.
The Dedicated Operations Fund operates within the framework of an Endowment Fund. Gifts given to STEER Inc. for this fund are irrevocable and become the property and management of STEER Inc. These gifts will be invested through a diversified investment portfolio that is overseen by an investment committee which is a subcommittee of the General Board of Directors of STEER Inc.
The gain on these investments is made available for the general fund of STEER Inc. to help defray the on-going expenses of the organization. The goal of the Multiplied Giving Concept is realized because the original gift remains intact and helps form the principal amount that makes up the investment portfolio.
The objective of the Dedicated Operations Fund is to preserve principal while providing consistent total return. These investments follow the investment policy as adopted by the Board of Directors of STEER Inc. and are reviewed quarterly by the investment committee.
People who have supported the STEER ministry by giving a gift for the Dedicated Operations Fund are an important part of the future of this ministry as it is important for the financial stability of this mission ministry, and ultimately it will help STEER Inc. send even more funds to missions.