2021-10-21T10:40:25-05:00 2020-12-31 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2020-01-01 900884353 SHED NYC INC SHED 6468766904 545 WEST 30TH STREET NEW YORK NY 10001 PETER GEE CFO 6468766904 2021-10-18 1 PETER GEE 999009999 NICOLE A FITZMAURICE P10491005 2127589700 2021-09-27 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z THE SHED ALEXANDER M POOTS 545 WEST 30TH STREET NEW YORK NY 10001 105942757 0 X WWW.THESHED.ORG X 2012 NY THE SHED IS A NEW CULTURAL INSTITUTION OF AND FOR THE 21ST CENTURY. SEE SCHEDULE O.WE PRODUCE AND WELCOME INNOVATIVE ART AND IDEAS, ACROSS ALL FORMS OF CREATIVITY, TO BUILD A SHARED UNDERSTANDING OF OUR RAPIDLY CHANGING WORLD AND A MORE EQUITABLE SOCIETY. 27 24 987 25 986042 0 90569567 100932172 6672590 136612 3180 24369 3835961 1177629 101081298 102270782 0 0 0 0 20844150 14371067 458492 275659 5352597 38722918 32131077 60025560 46777803 41055738 55492979 625242260 621442218 229244655 169756955 395997605 451685263 X THE SHED IS A NEW CULTURAL INSTITUTION OF AND FOR THE 21ST CENTURY. WE PRODUCE AND WELCOME INNOVATIVE ART AND IDEAS, ACROSS ALL FORMS OF CREATIVITY, TO BUILD A SHARED UNDERSTANDING OF OUR RAPIDLY CHANGING WORLD AND A MORE EQUITABLE SOCIETY. CONTINUED ON SCHEDULE O.IN OUR HIGHLY ADAPTABLE BUILDING ON MANHATTAN'S WEST SIDE, THE SHED BRINGS TOGETHER ESTABLISHED AND EMERGING ARTISTS TO CREATE NEW WORK IN FIELDS RANGING FROM POP TO CLASSICAL MUSIC, PAINTING TO DIGITAL MEDIA, THEATER TO LITERATURE, AND SCULPTURE TO DANCE. WE SEEK OPPORTUNITIES TOCOLLABORATE WITH CULTURAL PEERS AND COMMUNITY ORGANIZATIONS, WORK WITH LIKE-MINDED PARTNERS, AND PROVIDE UNIQUE SPACES FOR PRIVATE EVENTS. AS AN INDEPENDENT NONPROFIT THAT VALUES INVENTION, EQUITY, AND GENEROSITY, WE ARE COMMITTED TO ADVANCING ART FORMS, ADDRESSING THE URGENT ISSUES OF OUR TIME, AND MAKING OUR WORK IMPACTFUL, SUSTAINABLE, AND RELEVANT TO THE LOCAL COMMUNITY, THE CULTURAL SECTOR, NEW YORKCITY, AND BEYOND. 1 0 9982105 33489 LIVE PERFORMING PROGRAMMINGLIVE 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. CONTINUED ON SCHEDULE O 20376268 103123 VISUAL ARTS PROGRAMMINGVISUAL 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. CONTINUED ON SCHEDULE O 1923824 0 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 32282197 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 150 0 1 987 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 24 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X PETER GEE 6468766904 545 WEST 30TH STREET NEW YORK NY 10001 ALEXANDER POOTS ARTISTIC DIRECTOR & CEO 40.00 0.00 X X 741693 0 48819 DANIEL L DOCTOROFF CHAIR 15.00 0.00 X X 0 0 0 JONATHAN M TISCH VICE CHAIR 0.50 0.00 X X 0 0 0 DEBBIE AUGUST DIRECTOR 0.50 0.00 X 0 0 0 PETER A BOYCE II DIRECTOR 0.50 0.00 X 0 0 0 MISTY COPELAND DIRECTOR (START 9/30/20) 0.50 0.00 X 0 0 0 ROBERTA DENNING DIRECTOR 0.50 0.00 X 0 0 0 DAVID C DRUMMOND DIRECTOR 0.50 0.00 X 0 0 0 LEW FRANKFORT DIRECTOR 0.50 0.00 X 0 0 0 DEXTER G GOEI DIRECTOR 0.50 0.00 X 0 0 0 MARIA CATALINA SAIEH GUZMAN DIRECTOR (START 6/25/20) 0.50 0.00 X 0 0 0 MIMI HAAS DIRECTOR 0.50 0.00 X 0 0 0 KATHLEEN KAPNICK DIRECTOR (END 6/22/20) 0.50 0.00 X 0 0 0 MONISH KUMAR DIRECTOR (START 6/25/20) 0.50 0.00 X 0 0 0 KATE D LEVIN DIRECTOR 0.50 0.00 X 0 0 0 CHRISTINA WEISS LURIE DIRECTOR 0.50 0.00 X 0 0 0 FRANK H MCCOURT JR DIRECTOR 0.50 0.00 X 0 0 0 MARIGAY MCKEE DIRECTOR 0.50 0.00 X 0 0 0 DARLA MOORE DIRECTOR 0.50 0.00 X 0 0 0 COLBY MUGRABI DIRECTOR 0.50 0.00 X 0 0 0 BENJAMIN F NEEDELL DIRECTOR (END 12/9/20) 0.50 0.00 X 0 0 0 CLAUDIA RANKINE DIRECTOR (START 3/5/20) 0.50 0.00 X 0 0 0 ALVARO SAIEH DIRECTOR (END 6/25/20) 0.50 0.00 X 0 0 0 ANDRES SANTO DOMINGO DIRECTOR 0.50 0.00 X 0 0 0 DEAN SHAPIRO DIRECTOR (START 3/5/20) 0.50 0.00 X 0 0 0 HARVEY J SPEVAK DIRECTOR 0.50 0.00 X 0 0 0 JED WALENTAS DIRECTOR 0.50 0.00 X 0 0 0 FRED WILSON DIRECTOR (START 9/30/20) 0.50 0.00 X 0 0 0 DEBORAH WINSHEL DIRECTOR 0.50 0.00 X 0 0 0 KENNETH P WONG DIRECTOR 0.50 0.00 X 0 0 0 DASHA ZHUKOVA DIRECTOR 0.50 0.00 X 0 0 0 GILBERT PEREZ CHIEF VISITOR EXPERIENCE OFFICER 40.00 0.00 X 221400 0 23552 MARGARET HUNT CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 323715 0 41085 MARYANN JORDAN CHIEF OPERATING OFFICER 40.00 0.00 X 431566 0 32263 PETER GEE CHIEF FINANCIAL OFFICER 40.00 0.00 X 304519 0 45922 TAMARA MCCAW CHIEF CIVIC PROGRAM OFFICER 40.00 0.00 X 193353 0 21480 ABDUL YOUNIS CHIEF EXEC. PRODUCER (START 1/6/20) 40.00 0.00 X 323131 0 11196 EZRA WIESNER CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 253463 0 56622 EMMA ENDERBY CHIEF CURATOR (START 2/10/20) 40.00 0.00 X 140122 0 14822 JEFFREY LEVINE CHIEF MARKETING & COMM OFFICER 40.00 0.00 X 238983 0 56233 JESSICA GORMAN DIRECTOR OF INDIVIDUAL GIVING 40.00 0.00 X 148682 0 20112 JOSEPH WITTMANN DIRECTOR OF FACILITIES 40.00 0.00 X 203806 0 50426 MARC WARREN DIRECTOR OF PRODUCTION 40.00 0.00 X 187102 0 21260 ROBERT CAROTENUTO SENIOR PROGRAM ADVISOR 40.00 0.00 X 152573 0 20034 ROBERT RAYNOLDS DIRECTOR OF CORP PARTNERSHIPS 40.00 0.00 X 163788 0 7586 4027896 0 471412 29 0 1 0 VAYNER MEDIA LLC 347 10TH AVE NEW YORK NY 10001 MARKETING 698855 JS HELD LLC 50 JERICHO QUADRANGLE - SUITE 117 JERICHO NY 11753 CONSULTING 367754 JONES WALKER LLP 201 ST CHARLES AVENUE - SUITE 5100 NEW ORLEANS LA 70170 LEGAL 274715 VITAL MANAGEMENT SOLUTIONS 8988 FILIZ LANE POWELL OH 43065 DESIGN MANAGEMENT 216559 WALNUT HILL MEDIA LLC 667 MADISON AVE NEW YORK NY 10065 FUNDRAISING 178200 9 283367 5891294 94757511 2515848 100932172 BOX OFFICE TICKET REVENUE & FEES 711190 136612 136612 136612 1300 1300 2119924 1133882 986042 986042 986042 2538917 2515848 23069 23069 23069 50285 22245 28040 28040 FOOD & BEVERAGE 722511 71684 71684 STATE TAX REFUND 900099 31329 31329 CORPORATE CREDIT CARD CASHBACK 900099 15543 15543 44991 44991 163547 102270782 136612 986042 215956 2266608 866295 574431 825882 9182224 6772153 2029160 380911 151753 125532 9354 16867 1884466 1112953 378313 393200 886016 513889 177203 194924 187223 1554 172589 13080 160196 160196 275659 275659 278864 18256 260608 826770 826770 193963 64932 101572 27459 975295 662027 199303 113965 3409613 2314433 696760 398420 82620 58067 20478 4075 6113213 4149627 1249245 714341 14290179 9700122 2920221 1669836 893140 606260 182515 104365 PRODUCTION EXPENSE 3422317 3422317 0 0 ARTIST AND PERFORMING F 1062305 1062305 0 0 DEVELOPMENT & SPECIAL E 232773 3135 10025 219613 PROFESSIONAL DEVELOPMEN 2606 1570 1036 0 46777803 32282197 9143009 5352597 17570735 16329933 78245311 70636023 9750 15750 90497 78806 1081177 523050 556275816 22639737 527153332 533636079 1091458 222577 625242260 621442218 11575115 5452348 331250 300000 56500000 54600000 128603700 75445334 25000000 25000000 7234590 8959273 229244655 169756955 X 325681857 444685763 70315748 6999500 395997605 451685263 625242260 621442218 X 55492979 194679 X 0 1 X 1 0 X 83834244 87889064 74188371 90569567 100932172 437413418 83834244 87889064 74188371 90569567 100932172 437413418 168727772 268685646 1042 5795066 2121224 7917332 51789 51789 1058684 163547 1222231 446604770 7026685 0.60160 0.66110 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FOOD AND BEVERAGE - 2019 AMOUNT: $ 1,018,022. 2020 AMOUNT: $ 71,684. STATE TAX REFUND - 2019 AMOUNT: $ 34,000. 2020 AMOUNT: $ 31,329. CORP CREDIT CARD CASHBACK - 2019 AMOUNT: $ 6,662. 2020 AMOUNT: $ 15,543. OTHER - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 44,991. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 541847236 18020357 523826879 10441216 3368603 7072613 3987364 1250777 2736587 533636079 RETAINAGE PAYABLE 5013782 INTEREST RATE SWAP LIABILITY 405753 PAYROLL PROTECTION PROGRAM LOAN 3539738 8959273 X 103599343 194679 194679 103404664 -1133882 -1133882 102270782 47911685 1133882 1133882 46777803 0 46777803 PART X, LINE 2: UNCERTAIN TAX POSITIONS SHED NYC, INC. IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, IT IS NOT SUBJECT TO FEDERAL INCOME TAX. SHED NYC, INC. IS ALSO EXEMPT FROM STATE AND LOCAL INCOME TAXES. INCOME GENERATED FROM ACTIVITIES UNRELATED TO SHED NYC, INC.'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER INTERNAL REVENUE CODE SECTION 511. DURING THE YEAR ENDED DECEMBER 31, 2020, THE SHED DID NOT RECOGNIZE ANY UNRELATED BUSINESS INCOME TAX. THE SHED RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS CHANGE IN FAIR VALUE OF INTEREST RATE SWAP $194,679 SCHEDULE D, PART XI, LINE 4B RECONCILIATION OF REVENUE TO AUDITED FINANCIAL STATEMENTS DIRECT RENTAL EXPENSES ($1,133,882) SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES TO AUDITED FINANCIAL STATEMENTS DIRECT RENTAL EXPENSES $1,133,882 EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES PROGRAM ADVISORY 133558 0 1 0 0 0 1 133558 0 133558 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X 1 WALNUT HILL MEDIA LLC 667 MADISON AVE NEW YORK NY 10065 FUNDRAISING COUNSEL 0 0 167400 -167400 PENNINGTON GRAY LLC 7 WINSTON FARM LANE FAR HILLS NJ 07931 FUNDRAISING COUNSEL 0 0 57750 -57750 SUSAN COURTEMANCHE 40 POWDER HORN HILL ROAD WILTON CT 06897 FUNDRAISING COUNSEL 0 0 45000 -45000 270150 -270150 NJ NY SCHEDULE G, PART I, LINE 2B PROFESSIONAL FUNDRAISERS NAME OF FUNDRAISER: WALNUT HILL MEDIA, LLC ADDRESS OF FUNDRAISER: 667 MADISON AVE, NEW YORK, NY 10065 AMOUNT PAID TO (OR RETAINED BY) FUNDRAISER: $18,000 PER MONTH FLAT FEE, REDUCED TO $12,600 PER MONTH IN APRIL 2020, ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS. THE INITIAL TERM FOR THE ARRANGEMENT COMMENCED ON APRIL 1, 2013 AND LASTED THROUGH DECEMBER 31, 2013. THE CONTRACT HAS BEEN AUTOMATICALLY RENEWED IN SIX MONTH INTERVALS SINCE 2013 AND WILL CONTINUE UNLESS EITHER SIDE GIVES WRITTEN TERMINATION NOTICE. NAME OF FUNDRAISER: SUSAN COURTEMANCHE ADDRESS OF FUNDRAISER: 40 POWDER HORN HILL ROAD, WILTON, CT 06897 AMOUNT PAID TO (OR RETAINED BY) FUNDRAISER: $15,000 PER MONTH FLAT FEE, REDUCED TO $5,000 PER MONTH IN MARCH 2020, ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS. ARRANGEMENT TERMINATED IN MAY 2020. NAME OF FUNDRAISER: PENNINGTON GRAY, LLC ADDRESS OF FUNDRAISER: 7 WINSTON FARM LANE, FAR HILLS, NJ 07931 AMOUNT PAID TO (OR RETAINED BY) FUNDRAISER: $5,000 PER MONTH FLAT FEE, REDUCED TO $4,250 PER MONTH IN OCTOBER 2020. ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS. X 0 1 X X 0 0 0 0 0 0 0 0 0 ALEXANDER POOTS ARTISTIC DIRECTOR & CEO 597693 0 0 0 144000 0 6597 0 42222 0 790512 0 0 0 MARYANN JORDAN CHIEF OPERATING OFFICER 371566 0 0 0 60000 0 9614 0 22649 0 463829 0 0 0 MARGARET HUNT CHIEF DEVELOPMENT OFFICER 323715 0 0 0 0 0 9584 0 31501 0 364800 0 0 0 PETER GEE CHIEF FINANCIAL OFFICER 304519 0 0 0 0 0 10125 0 35797 0 350441 0 0 0 ABDUL YOUNIS CHIEF EXEC. PRODUCER (START 1/6/20) 261592 0 0 0 61539 0 0 0 11196 0 334327 0 0 0 EZRA WIESNER CHIEF TECHNOLOGY OFFICER 253463 0 0 0 0 0 9508 0 47114 0 310085 0 0 0 JEFFREY LEVINE CHIEF MARKETING & COMM OFFICER 238983 0 0 0 0 0 10091 0 46142 0 295216 0 0 0 JOSEPH WITTMANN DIRECTOR OF FACILITIES 203806 0 0 0 0 0 6534 0 43892 0 254232 0 0 0 GILBERT PEREZ CHIEF VISITOR EXPERIENCE OFFICER 221400 0 0 0 0 0 5365 0 18187 0 244952 0 0 0 TAMARA MCCAW CHIEF CIVIC PROGRAM OFFICER 193353 0 0 0 0 0 7905 0 13575 0 214833 0 0 0 MARC WARREN DIRECTOR OF PRODUCTION 187102 0 0 0 0 0 7642 0 13618 0 208362 0 0 0 ROBERT CAROTENUTO SENIOR PROGRAM ADVISOR 152573 0 0 0 0 0 1142 0 18892 0 172607 0 0 0 ROBERT RAYNOLDS DIRECTOR OF CORP PARTNERSHIPS 163788 0 0 0 0 0 6604 0 982 0 171374 0 0 0 JESSICA GORMAN DIRECTOR OF INDIVIDUAL GIVING 148682 0 0 0 0 0 5043 0 15069 0 168794 0 0 0 EMMA ENDERBY CHIEF CURATOR (START 2/10/20) 140122 0 0 0 0 0 2700 0 12122 0 154944 0 0 0 PART I, LINE 1A SCHEDULE J, PART I, LINES 1A AND 1B HOUSING ALLOWANCE IN 2020, THE SHED PROVIDED A HOUSING ALLOWANCE TO THE CHIEF EXECUTIVE OFFICER, CHIEF OPERATING OFFICER AND CHIEF EXECUTIVE PRODUCER PURSUANT TO THE TERMS UNDER THEIR RESPECTIVE EMPLOYMENT AGREEMENTS (WHICH WERE APPROVED BY THE BOARD). THESE AMOUNTS ARE INCLUDED IN THE OFFICERS' TAXABLE WAGES AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). MARYANN JORDAN CHIEF OPERATING OFFICER REFUNDABLE SECURITY DEPOSIT X 9750 9750 0 1 1 DAN DOCTOROFF DIRECTOR WORKING OPERATING CAPITAL LOAN X 9500000 9500000 0 1 1 ABDUL YOUNIS CHIEF EXECUTIVE PRODUCER REFUNDABLE SECURITY DEPOSIT X 6000 6000 0 1 1 STEPHEN ROSS SUBSTANTIAL CONTRIBUTOR CONSTRUCTION LOAN X 45000000 45000000 0 1 1 UNFINISHED LIVE 35% CONTROLLED ENTITY OF FRANK MCCOURT EVENT LOAN X 100000 100000 0 1 1 54615750 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: NAME OF PERSON: MARYANN JORDANRELATIONSHIP WITH ORGANIZATION: CHIEF OPERATING OFFICERPURPOSE OF LOAN: REFUNDABLE SECURITY DEPOSITNAME OF PERSON: DANIEL DOCTOROFFRELATIONSHIP WITH ORGANIZATION: DIRECTORPURPOSE OF LOAN: WORKING OPERATING CAPITAL LOANNAME OF PERSON: ABDUL YOUNISRELATIONSHIP WITH ORGANIZATION: CHIEF EXECUTIVE PRODUCERPURPOSE OF LOAN: REFUNDABLE SECURITY DEPOSITNAME OF PERSON: STEPHEN M. ROSSRELATIONSHIP WITH ORGANIZATION: SUBSTANTIAL CONTRIBUTORURPOSE OF LOAN: CONSTRUCTION LOANNAME OF PERSON: UNFINISHED LIVE, LLCRELATIONSHIP WITH ORGANIZATION: 35% CONTROLLED ENTITY OF FRANK MCCOURT. PURPOSE OF LOAN: EVENT LOAN X 6 2515848 GIFT VALUE 0 1 0 PART I, COLUMN (B): THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF SEPARATE CONTRIBUTORS. FORM 990, PART III, LINE 2 PROGRAM SERVICES NOT LISTED ON PRIOR FORM 990 THE SHED BEGAN 2020 WITH A ROBUST SEASON OF PERFORMING AND VISUAL ARTS PROGRAMMING PLANNED. ON MARCH 13, 2020, TWO WEEKS SHY OF OUR ONE-YEAR ANNIVERSARY, THE COVID-19 PANDEMIC FORCED US TO SUSPEND PROGRAMMING AND CLOSE OUR BUILDING TO THE PUBLIC AND ALL BUT ESSENTIAL SECURITY AND FACILITIES STAFF. WITHIN A MONTH WE HAD LAUNCHED UP CLOSE, A NEW PROGRAM THAT BROUGHT OUR COMMISSIONING MODEL TO THE DIGITAL SPHERE ON A MONTHLY BASIS THROUGHOUT THE YEAR. LATER THAT SPRING, WE MOVED FORWARD WITH OUR SIGNATURE CIVIC PROGRAM, OPEN CALL, INVITING EARLY-CAREER LOCAL ARTISTS TO SUBMIT PROPOSALS FOR NEW WORK TO BE SUPPORTED BY AND PRESENTED AT THE SHED IN THE FOLLOWING YEAR. ON OCTOBER 16, 2020, WE REOPENED OUR RECONFIGURED SPACE FOR A VISUAL ART EXHIBITION BY HOWARDENA PINDELL, WHICH WAS SUPPORTED BY A SERIES OF DIGITAL PUBLIC PROGRAMS THAT EXPLORED ISSUES OF RACE, HISTORY, AND REPRESENTATION RELEVANT TO THE ARTIST'S WORK. THE FOLLOWING MONTH WE PREMIERED NOVEMBER, A NEW FILM COMMISSIONED BY THE SHED AND BASED ON THE SHED-COMMISSIONED PLAY HELP BY CLAUDIA RANKINE. FORM 990, PART III, LINE 4A (CONTINUED) LIVE PERFORMANCE PROGRAMMING IN 2020, COVID-19 RESTRICTIONS PREVENTED US FROM CARRYING OUT THE LIVE PERFORMANCES WE HAD PLANNED. WE SPENT THE FIRST MONTHS OF THE YEAR REHEARSING FOR: *HELP (MARCH 10-11, 2020, THE GRIFFIN THEATER): THIS NEW PLAY BY ACCLAIMED POET AND SCHOLAR CLAUDIA RANKINE IS BASED ON HER ONGOING INVESTIGATION INTO WHITE MALE PRIVILEGE. DIRECTED BY OBIE AWARD-WINNER TAIBI MAGAR AND STARRING ROSLYN RUFF, HELP DRAWS ITS DIALOGUE FROM REAL CONVERSATIONS THAT RANKINE HAS HAD WITH WHITE MEN IN "LIMINAL SPACES" SUCH AS AIRPORT LOUNGES, EXPLORING HOW THESE INTERACTIONS CAN GO RIGHT, WRONG, AND RAISE NEW QUESTIONS. HELP HAD JUST BEGUN PREVIEWS WHEN THE SHED CLOSED IN MARCH. *NOVEMBER (NOVEMBER 1-7, 2020): WITH PANDEMIC CONDITIONS PREVENTING THE PRODUCTION OF LIVE PROGRAMMING, THE SHED REPURPOSED HELP, THE THEATRICAL WORK BY CLAUDIA RANKINE DESCRIBED ABOVE, FOR THE SCREEN. THE CREATIVE TEAM ADAPTED THE SCRIPT INTO NOVEMBER, A 47-MINUTE DRAMATIC MONOLOGUE WITH A ROTATING CAST OF FIVE ACTORS (CRYSTAL DICKINSON, ZORA HOWARD, APRIL MATTHIS, MELANIE NICHOLLS-KING, AND TIFFANY RACHELLE STEWART). FOR A CO-PRODUCTION WITH TRIBECA FILM FESTIVAL, THE SHED COMMISSIONED THE AWARD-WINNING YOUNG DIRECTOR PHILLIP YOUMANS TO DIRECT A FILM OF THE PERFORMANCE ALONGSIDE NEW FOOTAGE FROM LOCAL COMMUNITIES. THE FILM WAS AVAILABLE TO WATCH FOR FREE ON THE SHED'S WEBSITE DURING THE WEEK OF THE PRESIDENTIAL ELECTION, AND WILL BE REBROADCAST TWICE IN 2021. FORM 990, PART III, LINE 4B (CONTINUED) VISUAL ARTS PROGRAMMING IN 2020, THE PANDEMIC FORCED THE POSTPONEMENT OF SEVERAL PLANNED EXHIBITIONS, HOWEVER, WE WERE ABLE TO WELCOME VISITORS TO THE FOLLOWING SHOWS BEFORE OUR CLOSURE AND AFTER WE PARTIALLY REOPENED IN THE FALL (PLEASE NOTE THE FIRST TWO OPENED IN 2019 AND CONTINUED INTO 2020): *AGNES DENES: ABSOLUTES AND INTERMEDIATES (OCTOBER 9, 2019 - MARCH 12, 2020): THIS COMPREHENSIVE SURVEY EXHIBITION - DESCRIBED AS "TAUTLY BEAUTIFUL" BY THE NEW YORK TIMES - BROUGHT TOGETHER OVER 150 WORKS, INCLUDING A NUMBER OF NEW COMMISSIONS, SPANNING AGNES DENES'S 50-YEAR CAREER. *MANUAL OVERRIDE (NOVEMBER 13, 2019 - JANUARY 12, 2020, THE GRIFFIN THEATER): IN AN EXHIBITION ORGANIZED BY GUEST CURATOR NORA N. KHAN, FIVE ARTISTS - MOREHSHIN ALLAHYARI, SIMON FUJIWARA, LYNN HERSHMAN LEESON, SONDRA PERRY, AND MARTINE SYMS - CRITIQUED THE SOCIAL, CULTURAL, AND ETHICAL ISSUES EMBEDDED IN EMERGING TECHNOLOGICAL SYSTEMS AND INFRASTRUCTURES. *HOWARDENA PINDELL: ROPE/FIRE/WATER (OCTOBER 16, 2020 - MARCH 28, 2021): FOR HER SOLO EXHIBITION AT THE SHED, HOWARDENA PINDELL PRESENTED ROPE/FIRE/WATER, HER FIRST VIDEO IN 25 YEARS AND A PROJECT UNREALIZED BY THE ARTIST SINCE THE 1970S THAT THE SHED COMMISSIONED. IN ADDITION, SHE DEBUTED A PAIR OF LARGE-SCALE PAINTINGS RELATED TO GLOBAL ATROCITIES OF IMPERIALISM AND WHITE SUPREMACY. ALSO ON VIEW WERE SEVERAL ABSTRACT PAINTINGS THAT DEMONSTRATE A THROUGH LINE IN PINDELL'S PRACTICE: AFTER WORKING ON TRAUMATIC HISTORICAL PROJECTS, THE ARTIST DECOMPRESSES BY CREATING METICULOUSLY PRODUCED, LARGE-SCALE ABSTRACT WORKS ON UNSTRETCHED CANVAS. FORM 990, PART III, LINE 4C (CONTINUED) CIVIC PROGRAMS IN 2020, OUR YOUTH PROGRAMS FLEXNYC AND DIS OBEY WERE SUSPENDED DUE TO THE PANDEMIC, BUT WE MOVED FORWARD WITH THE FOLLOWING CIVIC PROGRAMS: *MEET AT THE SHED (JANUARY 11, 2020): THE SHED'S FIRST FREE OPEN HOUSE BROUGHT THE BLOOMBERG BUILDING TO LIFE WITH POP-UP EVENTS AND TOURS, DIRECTLY ENGAGING AUDIENCES, ESPECIALLY THOSE WHO HAD NOT YET VISITED, AND DEEPENING OUR RELATIONSHIPS WITH TRUSTEES, MEMBERS, AND PAST AND FUTURE SHED ARTISTS. FROM 11AM TO 8PM, THE EVENT WELCOMED ALMOST 6,000 ATTENDEES, AN ESTIMATED 40 PERCENT OF WHOM WERE FIRST-TIME VISITORS. GUESTS EXPERIENCED DJS SPINNING THROUGHOUT THE BUILDING, FLEXN STYLE CREW-VERSUS-CREW DANCE BATTLES IN THE MAIN LOBBY, DANCE WORKSHOPS IN THE 8TH-FLOOR TISCH SKYLIGHTS, CURATOR-LED TOURS OF EXHIBITIONS IN BOTH GALLERIES, PHOTO BOOTHS, LOCAL FOOD TRUCKS STATIONED IN THE MCCOURT, AND MORE. *OPEN CALL (APRIL 13 - JUNE 5, 2020): ON APRIL 13 THE SHED LAUNCHED ITS SECOND OPEN CALL APPLICATION CYCLE, AND BY THE TIME THE APPLICATION PERIOD CLOSED ON JUNE 5, WE HAD RECEIVED NEARLY 1,600 PROPOSALS - A 60% INCREASE OVER PROPOSALS RECEIVED IN 2018 - FROM EARLY-CAREER LOCAL ARTISTS SEEKING SUPPORT TO DEVELOP NEW WORK. THROUGHOUT JUNE INTO JULY, THE SHED WORKED WITH A DIVERSE GROUP OF 40 INDEPENDENT ARTISTS AND ARTS PROFESSIONALS TO REVIEW APPLICATIONS AND RECOMMEND PROJECTS TO ADVANCE TO PANEL. IN AUGUST, 14 PANELISTS MET VIRTUALLY AND SELECTED THE FINAL 27 ARTISTS WHO NOW MAKE UP THE OPEN CALL CLASS OF 2020. THEIR WORK WILL BE PRESENTED AT THE SHED IN 2021. *UP CLOSE (ONGOING SINCE APRIL 19, 2020): WITHIN WEEKS OF OUR CLOSURE, THE SHED CREATED AND LAUNCHED UP CLOSE, A BIMONTHLY SERIES OF NEW DIGITAL WORKS COMMISSIONED FROM PRIMARILY LOCAL, EMERGING ARTISTS - SO MANY OF WHOM WERE LEFT VULNERABLE AS THE PANDEMIC SHUTTERED THE VENUES UPON WHICH THEIR LIVELIHOODS DEPEND. THE SHED PRODUCED 15 UP CLOSE COMMISSIONS WHICH HAVE RECEIVED A TOTAL OF NEARLY 95,000 VIEWS ACROSS OUR SOCIAL MEDIA AND WEB PLATFORMS. FORM 990, PART VI, SECTION A, LINE 2 RELATIONSHIPS BETWEEN BOARD MEMBERS BOARD MEMBERS ALVARO SAIEH AND MARIA CATALINA SAIEH GUZMAN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO GOVERNING DOCUMENTS THE ORGANIZATION'S BYLAWS WERE AMENDED ON DECEMBER 9, 2020. SIGNIFICANT CHANGES INCLUDED THE FOLLOWING: COMMITTEES: REMOVED THE FACILITIES COMMITTEE AND ESTABLISHED A DIGITAL STRATEGY AND PROGRAM COMMITTEE. CONFLICTS OF INTEREST: UNDER SECTION - 2.2 DUTY TO DISCLOSE WHEN MATTERS COME BEFORE THE BOARD. *2.2.1 WITH REGARD TO THE ARTIST MEMBERS OF THE BOARD, THE SHED FURTHER ACKNOWLEDGES THAT ARTIST BOARD MEMBERS MAY ON OCCASION CREATE, PERFORM OR PRESENT WORK AS PART OF OUR PROGRAMMING. IN RECOGNITION THAT THESE INSTANCES WILL LIKELY CONSTITUTE A SET OF DYNAMICS THAT DIFFER FROM OTHER CONFLICTS OF INTEREST DUE TO THE VARIOUS WAYS SUCH ENGAGEMENTS MAY GESTATE, THE FOLLOWING EXPECTATIONS WILL APPLY. ANY DISCUSSION THAT IS RELATED TO THE ARTIST BOARD MEMBER'S PAY, EXPENSES, REVENUE, AND/OR DEBATE ABOUT THE OVERALL VIABILITY OF THAT COMMISSION, WILL BE CAUSE FOR RECUSAL BY THE ARTIST BOARD MEMBER. ONCE FINANCIAL NEGOTIATIONS BEGIN WITH AN ARTIST FOR A SPECIFIC WORK OR COMMISSION, THE ARTIST WILL BE EXPECTED TO RECUSE THEMSELVES FROM VOTING ON ANY ORGANIZATIONAL BUDGETS THAT CONTAIN EXPENSES FOR THAT WORK. AS WITH ALL BOARD MEMBERS, IT IS THE RESPONSIBILITY OF THE ARTIST TO BE SENSITIVE TO CONFLICTS OR RAISE ISSUES THEY ARE CONCERNED MAY PRESENT CONFLICTS AND CAUSE RECUSAL. HOWEVER, THE SHED RECOGNIZES THE LIKELIHOOD THAT AN ARTIST'S CIRCUMSTANCES MAY PRESENT WITH GREATER NUANCE AS TO SUBSTANCE AND TIMING. ACCORDINGLY, THE SHED'S STAFF WILL BE RESPONSIBLE FOR ALERTING AN ARTIST BOARD MEMBER TO THE APPEARANCE OF ANY OF THE ITEMS DESCRIBED ABOVE AS PART OF THE AGENDAS OF BOARD MEETINGS OR BOARD COMMITTEE MEETINGS, AND TO ALERT THE BOARD MEMBER LEADING ANY SUCH MEETING, SO AS TO FACILITATE THE ARTIST'S APPROPRIATE RECUSAL. UNDER SECTION - 2.3 DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS. *2.3.2 NO INTERESTED PERSON SHALL VOTE ON ANY MATTER IN WHICH HE OR SHE HAS A FINANCIAL INTEREST OR IS DETERMINED TO HAVE A CONFLICT OF INTEREST. *2.3.3. NO INTERESTED PERSON MAY PARTICIPATE IN OR ATTEMPT TO INFLUENCE ANY PLANNING, DECISIONS OR VOTES REGARDING A MATTER IN WHICH HE OR SHE HAS A FINANCIAL INTEREST OR IS DETERMINED TO HAVE A CONFLICT OF INTEREST, INCLUDING FORMAL OR INFORMAL DISCUSSIONS (WHETHER ORAL, WRITTEN, OR ELECTRONIC) TAKING PLACE OUTSIDE THE CONTEXT OF BOARD OR COMMITTEE MEETINGS (E.G., IN MEETINGS WITH STAFF). FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 FORM 990 IS PROVIDED TO THE ENTIRE BOARD OF DIRECTORS OF THE ORGANIZATION FOR REVIEW BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY REVIEW IMMEDIATELY UPON ELECTION TO THE BOARD, ALL DIRECTORS SHALL DISCLOSE ANY RELEVANT INTEREST WHICH MAY POSE CONFLICT OF INTEREST QUESTIONS, DISCLOSURE SHALL INCLUDE ANY INTEREST, FINANCIAL OR OTHERWISE, IN ANY CORPORATION, ORGANIZATION, OR PARTNERSHIP WHICH PROVIDES PROFESSIONAL OR OTHER SERVICES TO THE CORPORATION. WHEN ANY MATTER COMES BEFORE THE BOARD OR ANY COMMITTEE OF THE BOARD IN WHICH A DIRECTOR HAS AN INTEREST, THE DIRECTOR WHO HAS AN INTEREST SHALL PROMPTLY AND FULLY DISCLOSE HIS OR HER INTEREST TO THE BOARD OR COMMITTEE PRIOR TO ITS ACTING ON THE MATTER. SUCH DISCLOSURE SHALL INCLUDE ANY RELEVANT AND MATERIAL FACTS KNOWN TO SUCH PERSON ABOUT THE CONTRACT OR TRANSACTION THAT MIGHT REASONABLY BE CONSTRUED TO BE ADVERSE TO THE CORPORATION. BOARD MEMBERS ARE REQUIRED, ANNUALLY, TO SIGN AN AFFIDAVIT TO DISCLOSE WHETHER OR NOT A CONFLICT EXISTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW COMPENSATION FOR THE ARTISTIC DIRECTOR & CEO AND THE COO ARE REVIEWED AND DETERMINED ANNUALLY BY THE SHED'S INDEPENDENT BOARD OF DIRECTORS. COMPENSATION FOR OTHER SENIOR MANAGEMENT POSITIONS BELOW THE EXECUTIVE LEVEL ARE REVIEWED AND DETERMINED BY THE CEO AND COO. COMPENSATION REVIEW INCLUDES INPUT FROM INDEPENDENT SOURCES AND COMPARATIVE DATA FROM SIMILARLY SITUATED ORGANIZATIONS. THE APPROVAL PROCESS IS CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC THE ORGANIZATION MAKES ITS CERTIFICATE OF INCORPORATION, BYLAWS, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. REQUESTS FOR REVIEWING THE ORGANIZATION'S DOCUMENTS SHOULD BE ADDRESSED TO THE ORGANIZATION IN CARE OF PETER GEE AS NOTED IN PART VI, SECTION C, LINE 20. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 194,679. CULTURE SHED LESSEE LLC 545 WEST 30TH STREET NEW YORK NY 10001 900884353 LEASING ORG DE SHED NYC INC