Do you raise cattle or know someone who does? If no, you can probably skip this article. If yes, keep reading to learn how you can raise cattle and support missions at the same time. FBM has a unique partnership with STEER, Inc. Let us tell you how this partnership works.
STEER was founded in 1957 by Rev. Ed Folden. Rev. Folden was a pastor from North Dakota who went to Boston, Massachusetts to plant a church. When he got there, he saw there were already churches on every corner. After going to a mission conference he was convicted to help bring the gospel to places that didn’t have as many opportunities to hear it. God placed on his heart a unique way that he could help agencies that were already taking the gospel to those places. He came back to North Dakota and started to meet with farmers and ranchers. He then purchased 14 steers and placed them with farmers. Those cows brought in $2000. He reinvested half to buy more cows and gave the other half to missions. Today this cow and calf program is their most popular program, with around 85 percent of their participating ranchers. The current investment is over $1.7 million.
If you are a farmer or rancher and would like to sign up for this program you will first need to sign an Agreement of Stewardship form. This agreement states that you will provide the daily feed and care of the animal. When signing the agreement you can choose for the proceeds to go to Faith Baptist Mission. This gives you the ability to support missions in such an incredibly different way.
After the agreement is signed, STEER will provide the funds to purchase a young cow. The cow becomes the property of STEER, Inc. and needs to be identified by placing a STEER, Inc. ear tag on the cow, or using a STEER, Inc. registered brand if you have brand laws in your state. STEER pays market value for cows, but they must be reduced down to $800 (salvage value) over a two year period through the sale of the calves. Once the cow is reduced to $800, the full 90% of the calf gain will go to your mission designation. An average cow should produce for 10 years. When the cow is eventually sold, the cow funds come back to us and we will reinvest it in another project. When it comes time for you to sell the calf, you do it in the name of STEER, Inc. If you’re selling some of your own calves at the same time, simply take the overall average and have the marketing agent make the check payable to STEER, Inc. By not involving your personal account you will not have to declare the STEER, Inc. calf as income. When the cow gets older and needs to be replaced, you can hold back one of her heifer calves to replace the cow. This helps perpetuate the project and removes the need of reducing the cow down to $800 each time. If for some reason the cow becomes sick, call your local veterinarian and send the bill to STEER. Should the cow die, notify STEER right away and they will send you an insurance loss form. STEER does not expect you to stand the loss. Any losses are covered by their insurance fund that is generated from holding a percentage of the gain when the calf is sold.
This unique program allows you to use your passion of raising cattle to support missions. To find out more information about STEER, Inc. please visit their website at www.steerinc.com.
How it Works (Cow/Calf Program)
- STEER will purchase a young cow for you, and it becomes property of STEER.
- As a rancher, your only responsibility is to donate your feed and care for the cow and her calf.
- When the cow’s calf goes to market, you send the money to STEER.
- STEER sends profits to Faith Baptist Mission.
Other STEER programs:
Feeder Project: A short-term feeder project is a great way to utilize extra pasture, hay or feed grain that you might have available.
God’s Acres program: is a great way to utilize your land and equipment for missions.
For more information please visit www.steerinc.com