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Shed NYC
Also known as The Shed
Shed NYC reported $32.8 million in revenue and $41.8 million in expenses for calendar year 2024. Of every $100 it spent, $74.44 went to program services, $18.41 to management and general costs and $7.15 to fundraising. Its largest source of revenue was contributions and grants: 48.7% of the total. The highest compensation it reported for one person was $790,540 (CEO). 35 people received more than $100,000 in reportable compensation. Revenue fell 68% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $42MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $33M- Contributions & grants (non-government)$46.50 $15M
- Government grants$2.17 $710K
- Program service revenue$24.30 $8.0M
- Other revenue$27.03 $8.9M
Investment income was negative: −$7,298. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 74.4% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.4% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 7.2% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.19 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 48.7% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 2.2% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 24.3% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $790,540 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.89% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 35 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 128.7 | 36.6 |
| Independent voting board members Part VI 1a–1b | 35 of 38 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseLive performance programming live performance programming is an annual series of new works by established and emerging artists across performing arts disciplines. Diversity of genre and audience experience guides the shed's artistic choices, as does commissioned artists' appetites for experimentation. Here we are (september 28, 2023 - january 21, 2024): the world premiere of the final musical by composer stephen sondheim. With a book by david ives and directed by joe mantello, the production featured francois battiste, tracie bennett, bobby cannavale, micaela diamond, amber gray, jin ha…
Visual arts programming visual arts programming consists of a series of exhibitions featuring new works commissioned by the shed from a range of both established and early-career artists. Luna luna: forgotten fantasy (november 20, 2024 - march 16, 2025): luna luna brings a spectacular showcase of the world's first art amusement park to the shed. The brainchild of artist andre heller, luna luna first opened its fairground in 1987 in hamburg, germany. By a twist of fate, the park's treasures were forgotten in storage in texas for 36 years. With a blockbuster showing in los angeles in december…
Civic programming by creating socially-engaged work in partnership with local communities, the shed's civic program develops new avenues to engagement for artists and audiences who have historically been underserved by large manhattan-based cultural organizations. Open call 2023/2024 group exhibition (november 4, 2023 - january 21, 2024): the open call 2023 group exhibition featured new artworks by emerging nyc artists who intersect their personal stories with global history, proposing care- and community-based responses to the urgent issues of our time. The exhibition presented the work of…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CEO Director/trustee, officer, 40.0 hrs/week | $739,977 | $0 | $50,563 | $790,540 |
| ARTISTIC DIRECTOR Officer, 40.0 hrs/week | $524,145 | $0 | $2,973 | $527,118 |
| CHIEF FINANCIAL OFFICER Officer, 40.0 hrs/week | $344,864 | $0 | $34,812 | $379,676 |
| CHIEF EXECUTIVE PRODUCER Officer, 40.0 hrs/week | $350,657 | $0 | $12,270 | $362,927 |
| CHIEF PEOPLE OFFICER Officer, 40.0 hrs/week | $197,479 | $0 | $13,263 | $210,742 |
| OPERATING ENGINEER Highest compensated employee, 40.0 hrs/week | $196,639 | $0 | $4,527 | $201,166 |
| FORMER CHIEF OPERATING OFFICER Former, 0.0 hrs/week | $180,249 | $0 | $10,985 | $191,234 |
| DIRECTOR of FACILITIES Highest compensated employee, 40.0 hrs/week | $150,213 | $0 | $35,389 | $185,602 |
35 people received more than $100,000 in reportable compensation from Shed NYC (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.8M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b38 · 35 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 51,188
- Volunteers Part I, line 6367
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| Sciame Construction LLC Construction Services | $2,076,000 |
| This Perfect Day On Stage LLC Production Services | $626,967 |
| Allied Universal Security Services Security Services | $614,323 |
| Ho Bohemia Limited Production Services | $576,672 |
| Sheppard Mullin Richter & Hampton LLP Legal Services | $523,886 |
Individuals listed as contractors are left out. 12 contractors were paid more than $100,000 in all.
Private foundation grants it received
17 private foundations reported grants to Shed NYC totaling $9.5M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Shed NYC's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Shed NYC, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Shed NYC spent in 2024, $74.44 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Artspace ProjectsMinneapolis, MN · revenue $33M · programs 53.4% · 2024
- Facing History & OurselvesBoston, MA · revenue $33M · programs 74.7% · FY2025
- Roof AboveCharlotte, NC · revenue $33M · programs 87.8% · FY2025
- Armand Hammer Museum of Art and Cultural CenterLos Angeles, CA · revenue $33M · programs 68.2% · FY2025
- North Carolina Museum of Art FoundationRaleigh, NC · revenue $32M · programs 74.8% · FY2025
All arts, culture & humanities charities · Largest charities in New York
Questions people ask
How much of Shed NYC's spending goes to programs?
In calendar year 2024, Shed NYC reported that 74.4% of its $41.8 million in expenses went to program services, 18.4% to management and general and 7.2% to fundraising (Form 990, Part IX).
How much does Shed NYC pay its top executive?
The largest total compensation Shed NYC reported for one person in calendar year 2024 was $790,540, for the role of CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Shed NYC get its money?
Of $32.8 million in revenue in calendar year 2024, 48.7% came from contributions and grants (including 2.2% from government grants) and 24.3% from program service revenue (Form 990, Part VIII).
Is Shed NYC a registered charity?
The IRS lists EIN 90-0884353 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533169349309113 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202412929349301106 · read the filing
- 2022: Form 990 for calendar year 2022, object 202343189349302014 · read the filing
- 2021: Form 990 for calendar year 2021, object 202202929349300640 · read the filing
- 2020: Form 990 for calendar year 2020, object 202142949349300234 · read the filing
- 2019: Form 990 for calendar year 2019, object 202033079349300218 · read the filing
All filings for EIN 90-0884353: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.