Civic Intelligence

M Frances Inc.

990 • Fiscal year 2024 • EIN 32-0722992

Jan 01, 2024 to Dec 31, 2024 • Filed on Nov 03, 2025

Organization ProfileWWW.SHIARESTAURANT.ORG
1252 4th Treet NEWashington, DC 20002

(954) 873-6447

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.48x

Higher debt load relative to assets than 83% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

0.72x

Higher debt load relative to revenue than 85% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

96th percentile

77%

Higher net margin than 96% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets83rd percentile

Assets

$2,643,143

No earlier filing loaded for comparison.

Net Assets

$1,365,030

No earlier filing loaded for comparison.

Liabilities

$1,278,113

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin96th percentile

Revenue

$1,765,452

No earlier filing loaded for comparison.

Expenses

$400,422

No earlier filing loaded for comparison.

Net Income

$1,365,030

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2024: $2,643,143Liabilities 2024: $1,278,113Net Assets 2024: $1,365,0302024

Highlighted filing

2024

Assets$2,643,143
Liabilities$1,278,113
Net Assets$1,365,030
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0Revenue 2024: $1,765,452Expenses 2024: $400,422Net Income 2024: $1,365,0302024

Highlighted filing

2024

Revenue$1,765,452
Expenses$400,422
Net Income$1,365,030
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.0
Gross Receipts
$1,765,452
Mission and Program Overview

Mission

Operate restaurant that provides continuing education, job training, mentorship, leadership opportunities and resources to those pursuing employment in the restaurant industry.

Operate restaurant that (1) provides continued education and mentorship for next generation of chefs and restauranteurs, (2) conducts research and shares its findings in how restaurants can be more sustainable in cutting plastic, food waste, and gas, and (3) conducts research and initiatives to elevate traditional korean food and celebrate diversity in cuisines for a wider audience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$400,192$1,781,908▲ $1,381,716
Prepaid Expenses and Deferred Charges$113,287--
Accounts Receivable-$85,680-
Cash and Non-Interest-Bearing Accounts-$74,882-
Inventories for Sale or Use-$18,788-
Total Assets$528,658$2,643,143▲ $2,114,485
Other Assets Total$15,179$681,885▲ $666,706
Liabilities
Other Liabilities$528,658$1,236,942▲ $708,284
Accounts Payable and Accrued Expenses-$41,171-
Total Liabilities$528,658$1,278,113▲ $749,455
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$1,365,030-
Total Net Assets Fund Balance$0$1,365,030▲ $1,365,030
Total Liabilities and Net Assets / Fund Balance$528,658$2,643,143▲ $2,114,485

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,475,679$16,580$1,492,259
Equipment$306,229$35,264$341,493
Other Assets Org$2,529--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Ben JohnsonPresident
Edward LeeCreative Director
Don WenzelSecretery
Katy SchmidTreasurer
Karen KeithVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,466,384
Program Service Revenue
$299,068
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,466,384
Change in Net Assets
$1,365,030
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$265,706
Salaries, Compensation, and Employee Benefits$134,716
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$115,157--$115,157
Occupancy$66,183--$66,183
Depreciation Depletion$51,844--$51,844
Payroll Taxes$19,559--$19,559
Advertising$15,410--$15,410
Fees for Services Accounting$13,500--$13,500
Office Expenses$10,191--$10,191
Fees for Services Other$3,604--$3,604
Other Expenses$2,551--$2,551
Insurance$2,496--$2,496
Interest$2,138--$2,138
Travel$1,998--$1,998
Total Functional Expenses$400,422$0$0$400,422
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$598,192
Third Party Loan$538,750
Loan From Edward Lee$100,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

“There are no committees with authority to act on behalf of the governing body.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewd by board members annually.”

Form 990, Page 6, Part VI, Line 12C

“Directors, officers, and key persons (as defined in the policy) are required to disclose conflicts as soon as they become aware of them. In addition, each individual is required to sign an annual disclosure statement. After there has been disclosure of a potential conflict and after gathering any relevant information from the concerned director, officer or key person, the audit committee shall determine whether there is a conflict of interest. The director, officer or key person shall not be present for deliberation or vote on the matter and must not attempt to influence improperly the determination of whether a conflict of interest exists. The minutes of any board meeting at which a matter involving a conflict of interest or potential conflict of interest was discussed or voted upon shall include: a. The name of the interested party and the nature of the interest; b. The decision as to whether the interest presented a conflict of interest; c. Any alternatives to a proposed contract or transaction considered by the board; and d. If the transaction was approved, the basis for the approval.”

Form 990, Page 6, Part VI, Line 15A

“The process includes a proposed salary by the board based on average number of hours worked. The salary is then voted on and approved by board members.”

Form 990, Page 6, Part VI, Line 15B

“The process includes a proposed salary by the board based on average number of hours worked. The salary is then voted on and approved by board members.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available during regular business hours at the organization's address.”

Filing and Contact Details

Filer

Filer Name
M Frances Inc
EIN
32-0722992
Phone
9548736447
Address
1252 4TH TREET NE, WASHINGTON, DC 20002
Doing Business As
Shia Restaurant

Signing Officer

Name
Edward Lee
Title
Creative Director
Phone
9548736447
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward Lee
Formed
2023
Legal Domicile
Ky
Voting Board Members
4
Independent Board Members
4
Employees
25

Preparer

Firm
Henderman Jessee and Co Pllc
Address
304 WHITTINGTON PKWY STE 107, LOUISVILLE, KY 40222-4913
Preparer
W Clay Newman
Phone
5024254800
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization recognizes uncertain income tax positions using the "more-likely-than-not" approach as defined in the asc. No liability for uncertain tax positions has been recorded in the accompanying financial statements.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE-LIKELY-THAN-NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS REVIEWD BY BOARD MEMBERS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS, OFFICERS, AND KEY PERSONS (AS DEFINED IN THE POLICY) ARE REQUIRED TO DISCLOSE CONFLICTS AS SOON AS THEY BECOME AWARE OF THEM. IN ADDITION, EACH INDIVIDUAL IS REQUIRED TO SIGN AN ANNUAL DISCLOSURE STATEMENT. AFTER THERE HAS BEEN DISCLOSURE OF A POTENTIAL CONFLICT AND AFTER GATHERING ANY RELEVANT INFORMATION FROM THE CONCERNED DIRECTOR, OFFICER OR KEY PERSON, THE AUDIT COMMITTEE SHALL DETERMINE WHETHER THERE IS A CONFLICT OF INTEREST. THE DIRECTOR, OFFICER OR KEY PERSON SHALL NOT BE PRESENT FOR DELIBERATION OR VOTE ON THE MATTER AND MUST NOT ATTEMPT TO INFLUENCE IMPROPERLY THE DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS. THE MINUTES OF ANY BOARD MEETING AT WHICH A MATTER INVOLVING A CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST WAS DISCUSSED OR VOTED UPON SHALL INCLUDE: A. THE NAME OF THE INTERESTED PARTY AND THE NATURE OF THE INTEREST; B. THE DECISION AS TO WHETHER THE INTEREST PRESENTED A CONFLICT OF INTEREST; C. ANY ALTERNATIVES TO A PROPOSED CONTRACT OR TRANSACTION CONSIDERED BY THE BOARD; AND D. IF THE TRANSACTION WAS APPROVED, THE BASIS FOR THE APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS INCLUDES A PROPOSED SALARY BY THE BOARD BASED ON AVERAGE NUMBER OF HOURS WORKED. THE SALARY IS THEN VOTED ON AND APPROVED BY BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS INCLUDES A PROPOSED SALARY BY THE BOARD BASED ON AVERAGE NUMBER OF HOURS WORKED. THE SALARY IS THEN VOTED ON AND APPROVED BY BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE DURING REGULAR BUSINESS HOURS AT THE ORGANIZATION'S ADDRESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0823884798
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0400422
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0528658
IRS990/TotalLiabilitiesEOYAmt01278113
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IRS990/TotalProgramServiceExpensesAmt0400422
IRS990/TotalProgramServiceRevenueAmt0299068
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0299068
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01765452
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0528658
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02643143
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt01998
IRS990/TravelGrp/TotalAmt01998
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.SHIARESTAURANT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWARD LEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CREATIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09548736447
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0M FRANCES INC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0311490913
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HENDERMAN JESSEE AND CO PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0304 WHITTINGTON PKWY STE 107
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LOUISVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0402224913
ReturnHeader/PreparerPersonGrp/PhoneNum05024254800
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0W CLAY NEWMAN
ReturnHeader/ReturnTs02025-11-03T16:44:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,643,143
Liabilities
$1,278,113
Net assets
$1,365,030
Revenue
$1,765,452
Expenses
$400,422
Net income
$1,365,030
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$1.28$1.37$1.77$0.40$1.37
Peer Organizations

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