2018-07-30T16:38:32-05:00 2017-12-31 KPMG LLP 345 Park Avenue New York NY 101540102 990 2017-01-01 900884353 SHED NYC INC % PETER GEE SHED 6468766904 423 W 55TH STREET 7TH FLOOR NEW YORK NY 10019 PETER GEE CFO 2018-07-25 true DEVIN L DUNCAN P01249521 2127589700 2018-07-23 2017 2022-09-23 18:48:47Z X ALEXANDER M POOTS 423 W 55TH STREET 7TH FLOOR NEW YORK NY 10019 90851834 false X WWW.THESHED.ORG X 2012 NY THE ORGANIZATION WAS ESTABLISHED TO GUIDE THE CREATION AND OPERATION OF THE SHED, A VENUE THAT COMMISSIONS CULTURAL PROGRAMS AND EVENTS. 18 16 28 17 0 0 83834244 87889064 0 0 15691 1168 0 0 83849935 87890232 0 0 0 0 2486447 3995369 72000 427773 1446065 2181989 3917590 4740436 8340732 79109499 79549500 330248232 422448755 112987018 125638041 217261214 296810714 X THE ORGANIZATION WAS ESTABLISHED TO GUIDE THE CREATION AND OPERATION OF THE SHED, A VENUE THAT COMMISSIONS CULTURAL PROGRAMS AND EVENTS. false false 1010108 0 0 CONSTRUCTION OF THE SHED THE SHEDS REMARKABLE MOVABLE BUILDING IS THE FUNCTIONAL SUPPORT FOR ITS PROGRAMMATIC VISION. LIKE THE INSTITUTION, THE BUILDING IS FLEXIBLE, RESPONSIVE, AND INTENDED TO PUSH BOUNDARIES. DESIGNED BY DILLER SCOFIDIO + RENFRO IN ASSOCIATION WITH ROCKWELL GROUP, THIS INNOVATIVE STRUCTURE WILL HOLD MULTIPLE WORLD-CLASS SPACES THAT CAN BE EASILY ADAPTED TO RESPOND TO THE MOST AMBITIOUS ARTIST AND ACCOMMODATE A WIDE RANGE OF AUDIENCES. IT IS EXACTLY WHAT THE NAME SUGGESTS: "AN OPEN-ENDED STRUCTURE FILLED WITH TOOLS," DESIGNED TO SERVE ARTISTS AND AUDIENCES IN IMPACTFUL, ORIGINAL WAYS. SEE SCHEDULE O. 479852 0 0 FLEXNYC IN 2017, THE SHED CONTINUED FLEXNYC, A FREE, THREE-YEAR CITYWIDE DANCE ACTIVISM PROGRAM THAT WILL INFORM THE CREATION OF A NEW WORK TO BE PRESENTED BY THE SHED IN 2019. WITH FLEXNYC, THE SHED PARTNERS WITH NEW YORK CITY PUBLIC SCHOOLS, AFTER-SCHOOL PROGRAM PROVIDERS, AND COMMUNITY CENTERS IN NEW YORK CITY HOUSING AUTHORITY (NYCHA) DEVELOPMENTS TO PROVIDE ARTIST-LED OPPORTUNITIES FOR STUDENTS TO EXPLORE ISSUES OF SOCIAL JUSTICE THROUGH AN INTENSIVE "FLEXN" DANCE RESIDENCY. SEE SCHEDULE O. 1551086 0 0 COMMISSIONED WORKS In 2017, The Shed began research and development of potential commissioned works to be presented once the building is complete. This included concept meetings with artists around developing performance and exhibition ideas, meetings with potential creative teams, site visits for artists to see The Sheds theaters and gallery spaces, scouting visits to view artists existing works, meetings with potential future partners for commissioning or production support, and travel to industry trade shows. 1095475 0 0 marketing program 244056 0 0 other programs 1339531 0 0 4380577 true true false false false false false false false false true false false false true true false true false false false false false true false false false false false true false false false true false false false false false false false false true false false false false true 80 0 true 28 true false false false false false false false false false false X 18 16 true false false false false false false true true false false true true true true true true true true false NY X PETER GEE 6468766904 423 W 55TH STREET 7TH FLOOR NEW YORK NY 10019 DANIEL L DOCTOROFF PRESIDENT & CHAIRMAN 15.0 0.0 X X 0 0 0 DAVID DRUMMOND DIRECTOR 0.5 0.0 X 0 0 0 LEWIS FRANKFORT DIRECTOR 0.5 0.0 X 0 0 0 CHRISTINA WEISS LURIE DIRECTOR 0.5 0.0 X 0 0 0 FRANK H MCCOURT JR DIRECTOR 0.5 0.0 X 0 0 0 MARIGAY MCKEE DIRECTOR (AS OF 12/17) 0.5 0.0 X 0 0 0 CHRISTINA MILLER DIRECTOR 0.5 0.0 X 0 0 0 DARLA MOORE RAINWATER DIRECTOR 0.5 0.0 X 0 0 0 COLBY MUGRABI DIRECTOR (AS OF 12/17) 0.5 0.0 X 0 0 0 BENJAMIN F NEEDELL DIRECTOR 0.5 0.0 X 0 0 0 ALEXANDER M POOTS CEO & ARTISTIC DIRECTOR 40.0 0.0 X X 838566 0 31727 STEPHEN M ROSS DIRECTOR 0.5 0.0 X 0 0 0 ANDRES SANTO DOMINGO DIRECTOR 0.5 0.0 X 0 0 0 HARVEY SPEVAK DIRECTOR 0.5 0.0 X 0 0 0 JONATHAN M TISCH DIRECTOR 0.5 0.0 X 0 0 0 DIANE VON FURSTENBERG DIRECTOR 0.5 0.0 X 0 0 0 JED WALENTAS DIRECTOR 0.5 0.0 X 0 0 0 DARYA ALEXANDROVNA ZHUKOVA DIRECTOR 0.5 0.0 X 0 0 0 LAURIE BECKELMAN ASSOCIATE DIRECTOR & SECRETARY 40.0 0.0 X 370233 0 14110 PETER GEE CHIEF FINANCIAL OFFICER 40.0 0.0 X 219846 0 28114 MARYANN JORDAN CHIEF OPERATING OFFICER 40.0 0.0 X 463439 0 24484 MARGARET HUNT CHIEF DEVELOPMENT OFFICER 40.0 0.0 X 108354 0 10149 JEFFREY E LEVINE CHIEF MARKETING OFFICER 40.0 0.0 X 248195 0 39051 TAMARA N MCCAW CHIEF CIVIC PROGRAM OFFICER 40.0 0.0 X 140094 0 14434 TARA MORRIS CHIEF DEV. OFFICER (THRU 3/17) 40.0 0.0 X 53161 0 2589 KEVIN SLAVIN CHIEF TECHNOLOGY OFFICER 40.0 0.0 X 182293 0 1040 LAURA L ASWAD PRODUCER 40.0 0.0 X 117863 0 0 MARCELLA TAFT HEAD OF SPECIAL PROJECTS 40.0 0.0 X 180712 0 12566 2922756 0 178264 10 false true false DILLER SCOFIDIO RENFRO ARCHITECTS 601 W 26TH ST SUITE 1815 NEW YORK NY 10001 ARCHITECTURE 6438151 HAKS ENGINEERS ARCHITECTS SURVE 40 WALL ST 11TH FLOOR NEW YORK NY 10005 CONSTRUCTION 1397458 LEVIEN COMPANY 570 LEXINGTON AVE NEW YORK NY 10022 CONSULTING 814794 GELLER COMPANY 909 3RD AVE 16TH FLOOR NEW YORK NY 10022 ACCOUNTING 706221 NADINE PEYSER LLC 200 Columbia Heights 2 BROOKLYN NY 11201 business development 216653 15 10835519 77053545 20027 87889064 0 0 0 0 0 0 0 0 2962770 2961602 1168 1168 1168 0 0 0 0 0 0 0 0 0 0 87890232 1168 0 0 0 0 2789879 1843821 378823 567235 0 939147 525064 133701 280382 0 80394 50759 18186 11449 185949 113452 24717 47780 430433 430433 283318 283318 695109 695109 0 427773 427773 0 244057 244057 532937 532937 0 0 172899 172899 56723 56723 0 312030 197665 42734 71631 169231 169231 0 0 0 0 4212 4212 55963 55963 PRODUCTION EXPENSE 872822 872822 MISCELLANEOUS EXPENSE 48041 48041 SPECIAL EVENTS &PRESENTATION 39815 39815 8340732 4380577 2514090 1446065 13772203 3128391 0 0 103251715 103689846 0 0 9750 9750 0 0 0 0 0 0 18340 472002 314073604 4212 213196224 314069392 0 0 0 0 0 0 0 0 0 1079374 330248232 422448755 9710912 5948551 0 0 250000 275000 0 0 0 0 45000000 45000000 52476967 64696479 0 0 5549139 9718011 112987018 125638041 X 0 0 217261214 296810714 0 0 217261214 296810714 330248232 422448755 79549500 X X false true X true false X 41285773 33145469 69093835 83834244 87889064 315248385 0 0 41285773 33145469 69093835 83834244 87889064 315248385 143736432 171511953 0 0 0 315248385 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 313991723 0 313991723 81881 4212 77669 314069392 0 RETAINAGE PAYABLE 9718011 9718011 X 88591484 701252 701252 87890232 87890232 9041984 701252 701252 8340732 8340732 SCHEDULE D, 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, 2017, 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. X X true NADINE PEYSER 200 Columbia Heights 2 Brooklyn NY 11201 FUNDRAISING COUNSEL false 216653 -216653 SUSAN COURTEMANCHE 40 Powder Horn Hill Road Wilton CT 06897 FUNDRAISING COUNSEL false 120000 -120000 WALNUT HILL MEDIA LLC 667 Madison Avenue New York NY 10065 FUNDRAISING COUNSEL false 72000 -72000 408653 -408653 NY SCHEDULE G, PART I, LINE 2B PROFESSIONAL FUNDRAISERS NAME OF FUNDRAISER: NADINE PEYSER ADDRESS OF FUNDRAISER: 200 Columbia Heights, #2, Brooklyn, NY 11201 AMOUNT PAID TO (OR RETAINED BY) FUNDRAISER: $18,000 PER MONTH FLAT FEE ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS. 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 ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS. NAME OF FUNDRAISER: WALNUT HILL MEDIA LLC ADDRESS OF FUNDRAISER: 667 MADISON AVE, NEW YORK, NY 10065 AMOUNT PAID TO (OR RETAINED BY) FUNDRAISER: $15,000 PER MONTH FLAT FEE ARRANGEMENT PLUS ELIGIBLE EXPENSE REIMBURSEMENTS - 40% OF TOTAL BILLING IS ALLOCATED TO FUNDRAISING SERVICES AND THE REMAINING 60% IS ALLOCATED TO NON-FUNDRAISING PROFESSIONAL SERVICES. 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. X false true X X false false false false false false false false false ALEXANDER M POOTS CEO & ARTISTIC DIRECTOR 694566 0 0 0 144000 0 0 0 31727 0 870293 0 0 0 LAURIE BECKELMAN ASSOCIATE DIRECTOR & SECRETARY 370233 0 0 0 0 0 0 0 14110 0 384343 0 0 0 PETER GEE CHIEF FINANCIAL OFFICER 219846 0 0 0 0 0 0 0 28114 0 247960 0 0 0 MARYANN JORDAN CHIEF OPERATING OFFICER 403439 0 0 0 60000 0 0 0 24484 0 487923 0 0 0 JEFFREY E LEVINE CHIEF MARKETING OFFICER 248195 0 0 0 0 0 0 0 39051 0 287246 0 0 0 TAMARA N MCCAW CHIEF CIVIC PROGRAM OFFICER 140094 0 0 0 0 0 0 0 14434 0 154528 0 0 0 KEVIN SLAVIN CHIEF TECHNOLOGY OFFICER 182293 0 0 0 0 0 0 0 1040 0 183333 0 0 0 MARCELLA TAFT HEAD OF SPECIAL PROJECTS 180712 0 0 0 0 0 0 0 12566 0 193278 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE IN 2017, THE SHED PROVIDED A HOUSING ALLOWANCE TO THE CHIEF EXECUTIVE OFFICER AND CHIEF OPERATING OFFICER PURSUANT TO THE TERMS UNDER THEIR RESPECTIVE EMPLOYMENT AGREEMENTS. THESE AMOUNTS ARE INCLUDED IN THE OFFICERS' TAXABLE WAGES AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). STEPHEN M ROSS SEE PART V SEE PART V X 45000000 45000000 false true true MARYANN JORDAN SEE PART V SEE PART V X 0 9750 false true true 45009750 SCHEDULE L, PART II LOANS TO AND FROM INTERESTED PERSONS NAME OF PERSON: STEPHEN M. ROSS RELATIONSHIP WITH ORGANIZATION: DIRECTOR PURPOSE OF LOAN: CONSTRUCTION LOAN NAME OF PERSON: MARYANN JORDAN RELATIONSHIP WITH ORGANIZATION: CHIEF OPERATING OFFICER PURPOSE OF LOAN: REFUNDABLE SECURITY DEPOSIT SCHEDULE L, PART II, COLUMN I ON OCTOBER 15, 2015, THE SHED EXECUTED A $45 MILLION LOAN AGREEMENT WITH THE CHAIRMAN OF THE DEVELOPER. THE LOAN IS INTEREST FREE AND WILL MATURE ON OCTOBER 15, 2022. IN 2014, THE SHED RECEIVED $10 MILLION REPRESENTING A PORTION OF THE LOAN, WHICH IS REPORTED AS LOAN PAYABLE AS OF DECEMBER 31, 2017. IN 2015, THE SHED RECEIVED $35 MILLION REPRESENTING THE REMAINING PORTION OF THE LOAN AGREEMENT, WHICH CONTINUES TO BE REPORTED AS LOAN PAYABLE AS OF DECEMBER 31, 2017 IN THE ACCOMPANYING BALANCE SHEET. FORM 990, PART III, LINE 4A CONSTRUCTION OF THE SHED BY THE END OF 2017, THE EXTERIOR ENCLOSURE OF THE FIXED BUILDING WAS SUBSTANTIALLY COMPLETED AND THE ENCLOSURE OF THE SHED IS TAKING SHAPE. ON THE FIXED BUILDING, THE GLASS-PANEL CURTAINWALL ON THE NORTH AND SOUTH FACADES WAS PUT IN PLACE AND SKYLIGHT FRAMING AND GLASS INSTALLED, WHICH LARGELY COMPLETED THE FIXED BUILDING ENCLOSURE. THE SHED'S Ethylene tetrafluoroethylene (ETFE) POLYMER "PILLOWS" COVER MORE THAN HALF OF THE EAST FACADE, AND FRAMES FOR THE SHEDS NORTH DOORS WERE INSTALLED. The Project is now about 62% complete, and has achieved these milestones: - In Tower D, interior framing and mechanical rough-ins were completed up to Level 11. - In the Fixed Building, the concrete jack-up slabs were completed in both Levels 6 and 8, and mechanical rough-ins are currently in progress on all floors. - In the Shed, lighting and mechanical ducts were completed. Air units for all ETFE pillows were installed. - The contractor for The Shed's huge theatrical shades tested smaller mockups of specific components in preparation for a full-scale test of the shades in January. FORM 990, PART III, LINE 4B FLEXNYC IN WEEKLY WORKSHOPS LED BY FLEXN DANCERS, STUDENTS EXPLORE THE VARIETY OF FLEXN STYLES AND CELEBRATE THE BROOKLYN-BORN DANCE MOVEMENT AS A UNIVERSAL PLATFORM FOR SELF-EXPRESSION. FLEXNYC PROVIDES OPPORTUNITIES FOR STUDENTS TO CONFRONT CHALLENGING ISSUES, BUILD CONFIDENCE AND SELF-AWARENESS, AND EXPLORE AND COMMUNICATE PERSONAL AND COLLECTIVE NARRATIVES. Form 990, Part III, Line 4D Marketing Program IN 2017, THE SHEDS MARKETING PROGRAM DEVELOPED THE FIRST PHASE OF A VISUAL IDENTITY FOR THE ORGANIZATION, LAUNCHED SOCIAL MEDIA ACCOUNTS, ACTIVATED A MEDIA RELATIONS STRATEGY, AND MADE ITS FIRST INSTITUTIONAL PRESS ANNOUNCEMENT. FORM 990, PART VI, SECTION A, LINE 2 RELATIONSHIPS BETWEEN BOARD MEMBERS BOARD MEMBERS STEPHEN M. ROSS AND HARVEY SPEVAK HAVE A BUSINESS RELATIONSHIP. 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. 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 CEO & ARTISTIC DIRECTOR 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 XII, LINE 2C OVERSIGHT PROCESS AN AUDIT COMMITTEE WAS ESTABLISHED IN 2014. THE PRINCIPAL FUNCTIONS OF THE COMMITTEE ARE TO OVERSEE THE CORPORATION'S ACCOUNTING AND FINANCIAL AND TAX REPORTING PROCESSES, THE AUDIT OF THE CORPORATION'S FINANCIAL STATEMENTS AND THE WORK OF ITS INDEPENDENT AUDITORS, AND TO VERIFY THE PRESENCE OF RELIABLE AND COMPLIANT ACCOUNTING, FINANCIAL REPORTING, AND INTERNAL CONTROL POLICIES AND PRACTICES. CULTURE SHED LESSEE LLC 423 W 55TH STREET 7TH FLOOR NEW YORK NY 10019 900884353 LEASING ENTIT DE SHED NYC INC