Shed Nyc Inc
- Assets
- $621.4m
- Revenue
- $102.3m
- Investments
- $0.0
- Employees
- 719
- Location
- New York, NY
- Founding
- 02/2013
- Data as of
- 12/2020
- EIN
- 90-0884353
Organization Overview
Shed Nyc Inc, operating under the name The Shed, is located in New York, NY. The organization was established in 2013. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Shed employed 719 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shed is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Shed generated $102.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $46.8m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE SHED BRINGS TOGETHER ESTABLISHED AND EMERGING ARTISTS TO CREATE NEW WORK. SEE SCHEDULE O. THE SHED BRINGS TOGETHER ESTABLISHED AND EMERGING ARTISTS TO CREATE NEW WORK, ACROSS ALL DISCIPLINES, FOR ALL AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VISUAL ARTS PROGRAMMINGVISUAL ARTS PROGRAMMING CONSISTS OF A SERIES OF EXHIBITIONS FEATURING WORKS FROM A RANGE OF BOTH ESTABLISHED AND EARLY-CAREER ARTISTS. CONTINUED ON SCHEDULE O.
LIVE PERFORMANCE PROGRAMMINGLIVE PERFORMANCE PROGRAMMING IS AN ANNUAL SERIES OF WORKS BY ESTABLISHED AND EMERGING ARTISTS ACROSS PERFORMING ARTS DISCIPLINES. DIVERSITY OF GENRE AND AUDIENCE EXPERIENCE GUIDES THE SHED'S ARTISTIC CHOICES, AS DOES ARTISTS' APPETITES FOR EXPERIMENTATION. CONTINUED ON SCHEDULE O.
CIVIC PROGRAMSBY CREATING SOCIALLY-ENGAGED WORK IN PARTNERSHIP WITH LOCAL COMMUNITIES, THE SHED'S CIVIC PROGRAMS DEVELOP NEW AVENUES TO ENGAGEMENT FOR ARTISTS AND AUDIENCES WHO HAVE NOT HISTORICALLY BEEN WELL SERVED BY LARGE MANHATTAN-BASED CULTURAL ORGANIZATIONS. CONTINUED ON SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Poots Artistic Director & CEO | OfficerTrustee | 40 | $663,416 |
Maryann Jordan President And COO | Officer | 40 | $352,106 |
Abdul Younis Chief Executive Producer | Officer | 40 | $275,930 |
Peter Gee Chief Financial Officer | Officer | 40 | $238,235 |
Ezra Wiesner Chief Technology Officer | Officer | 40 | $196,881 |
Joseph Wittmann Director Of Facilities | 40 | $192,724 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Protection Service Security Staffing | 12/30/21 | $536,171 |
Sasha Group Llc Marketing | 12/30/21 | $380,978 |
Ery South Residential Tower Llc Construction | 12/30/21 | $377,327 |
Cablevision Lightpath Llc Telephone Services | 12/30/21 | $161,347 |
Gladstone Gallery Llc Programming | 12/30/21 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $283,367 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,891,294 |
| All other contributions, gifts, grants, and similar amounts not included above | $94,757,511 |
| Noncash contributions included in lines 1a–1f | $2,515,848 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,932,172 |
| Total Program Service Revenue | $136,612 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $1,300 |
| Royalties | $0 |
| Net Rental Income | $986,042 |
| Net Gain/Loss on Asset Sales | $23,069 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $28,040 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $102,270,782 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,266,608 |
| Compensation of current officers, directors, key employees. | $574,431 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,182,224 |
| Pension plan accruals and contributions | $151,753 |
| Other employee benefits | $1,884,466 |
| Payroll taxes | $886,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $187,223 |
| Fees for services: Accounting | $160,196 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $275,659 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $278,864 |
| Advertising and promotion | $826,770 |
| Office expenses | $193,963 |
| Information technology | $975,295 |
| Royalties | $0 |
| Occupancy | $3,409,613 |
| Travel | $82,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,113,213 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,290,179 |
| Insurance | $893,140 |
| All other expenses | $0 |
| Total functional expenses | $46,777,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,329,933 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $70,636,023 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $15,750 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $78,806 |
| Prepaid expenses and deferred charges | $523,050 |
| Net Land, buildings, and equipment | $533,636,079 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $222,577 |
| Total assets | $621,442,218 |
| Accounts payable and accrued expenses | $5,452,348 |
| Grants payable | $0 |
| Deferred revenue | $300,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $54,600,000 |
| Secured mortgages and notes payable | $75,445,334 |
| Unsecured mortgages and notes payable | $25,000,000 |
| Other liabilities | $8,959,273 |
| Total liabilities | $169,756,955 |
| Net assets without donor restrictions | $444,685,763 |
| Net assets with donor restrictions | $6,999,500 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $621,442,218 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Shed Nyc Inc has recieved totaling $13,072,913.
| Awarding Organization | Amount |
|---|---|
Jonathan M Tisch Family Foundation New York, NY PURPOSE: TO FURTHER EDUCATIONAL, RELIGIOUS, MEDICAL, CULTURAL, SOCIETAL AND ENVIRONMENTAL CAUSES. | $4,850,000 |
Max Stenbeck Charitable Fund Los Angeles, CA PURPOSE: (1) DESCRIPTION: 57,315 SHARES OF KINNEVIK AB SECURITIES (2) BOOK VALUE: $1,613,753 (3) METHOD USED TO DETERMINE BOOK VALUE: AVERAGE OF THE HIGH/LOW ON THE DATE THE SECURITIES WERE RECEIVED BY THE FOUNDATION. (4) METHOD USED TO DETERMINE FAIR MARKET VALUE: AVERAGE OF THE HIGH/LOW ON THE DATE THE SECURITIES WERE DONATED. (5) DATE OF THE GIFT: 07/30/2021 (6) PURPOSE: GENERAL OPERATING SUPPORT | $2,516,305 |
Fidelity Non-Profit Management Foundation Boston, MA PURPOSE: CONSTRUCTION | $2,500,000 |
Darla Moore And Richard Rainwater Foundation Lake City, SC PURPOSE: SUPPORT FOR CULTURAL INSTITUTION | $1,100,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: ARTS AND CULTURE | $333,334 |
Steve Tisch Family Foundation New York, NY PURPOSE: TO FURTHER EDUCATIONAL, RELIGIOUS, MEDICAL, CULTURAL, SOCIETAL AND ENVIRONMENTAL CAUSES. | $333,334 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shed Nyc Inc New York, NY | $621,442,218 | $102,270,782 |
Westchester Academic Library Directors Organization Inc New York, NY | $47,276,623 | $38,534,511 |
Pro Publica Inc New York, NY | $60,782,681 | $36,005,300 |
Pittsburgh Trust For Cultural Resources Pittsburgh, PA | $189,016,990 | $50,601,813 |
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |