Shed NYC Inc

Analysis

Shed NYC Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Shed NYC Inc reported income of $60.6m and spending of $45.0m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $101.1m to $60.6m (-40%), an average of -12% a year. The sharpest change came in the year to December 2023, when income rose by 110%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Shed NYC Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Global Poverty Project Inc ($60.6m), Royal Ontario Museum ($60.7m) and Norton Museum of Art Inc ($60.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 9.6% of the total. Compensation of current officers, directors and key employees was $3.6m (7.9% of expenses). Other salaries and wages came to $9.4m. It paid $221k in professional fundraising fees. At year end it held assets of $549.7m against liabilities of $91.9m, net assets of $457.7m. It reported 1,459 employees.