Rochelle School on Arnold Circus has recently been refurbished and taken over by A Foundation, a charity that was set up in 1998 to support the development of art and things in Liverpool. Quite what they're now doing in Shoreditch is anybody's guess.
But there's a gallery there for performance and things, the old playground is still intact, and you can even have lunch in the canteen. This is one of those communal artsy places that are always fun. They're probably also doing something worthy, but you don't really need to worry about it.