Why does Form 1023 ask for information about successor organizations? Line 5, Part II, asks whether an organization is a successor (as defined in the instructions) to another organization, for profit or nonprofit. If an organization answers yes, it must complete Schedule G, which requests detailed information about the predecessor organization, transfers of assets and any continuing relationship. Generally speaking, the purpose of Schedule G is to obtain information about whether a transaction creating a successor organization resulted in benefit to private shareholders or individuals associated with the predecessor organization.
