The Baker Hughes Foundation is a private 501(c)(3) corporate foundation established in 1994 and based in Houston, Texas. It is funded by contributions from Baker Hughes Incorporated, a company with a 100-year history providing products and services to the worldwide oil and natural gas industry. The foundation operates as a grantmaking organization supporting nonprofit initiatives across multiple sectors.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$2.2M
+32.3% YoY
Annual Giving
$3.2M
-28.7% YoY
Grant Count
990
-5.1% YoY
Avg Grant Size
$3K
-24.9% YoY
Mission & Focus Areas
The Baker Hughes Foundation supports organizations involved with education, health, youth, and culture. The foundation's contributions are generally focused on charities that target improvements in key sectors including:
- Education
- Culture
- Children and youth
- Health
- Diversity, equity, and inclusion (DEI)
- Sustainability and environmental initiatives
The foundation emphasizes its commitment to advancing the United Nations' Sustainable Development Goals, specifically SDG 10 to reduce inequalities.
Grantmaking
The foundation only makes contributions to preselected charitable organizations. A notable grantmaking approach involves nominations from Baker Hughes global employee resource groups (ERGs), which have resulted in significant grant distributions in recent years.
Average Grant
amount: approximately $3,000
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking reaches organizations across 51 states. Primary concentration areas include Texas, Vermont, and the District of Columbia, which account for 29% of all grants. The foundation has supported 2,299 unique organizations. Recent grant announcements indicate funding extends globally, including North America, Europe, Asia-Pacific, Middle East, United Kingdom, and sub-Saharan Africa.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $2,244,667
- Total Revenues: $3,725,609
- Total Expenses: $3,230,024
- Number of Employees: 0
Historical Asset Trend:
- 2011: $4.1 million
- 2023: $1.7 million
- 2024: $2.2 million
Tax Status:
- Tax-exempt since August 1994
- EIN: 76-0441292
- Contributions are tax-deductible
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $2,244,667 | $1,696,044 | $1,507,790 |
| Revenue | $3,725,609 | $4,718,728 | $2,571,655 |
| Expenses | $3,230,024 | $4,530,474 | $2,573,918 |
| Qualifying Distributions | $3,227,852 | $4,529,116 | $2,572,268 |
| Net Investment Income | $225,609 | $120,728 | $96,655 |
| Distributable Amount | $198,582 | $110,950 | $110,657 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Lorenzo Simonelli – Chairman and Chief Executive Officer (as of 2023)
- Tax Department – Listed as principal officer
The foundation is governed by 5 officers and trustees.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| NANCY BUESE | PRESIDENT | 1 | — |
| ROSA E BOLING | SECRETARY/TREASURER & EXEC DIRECTOR | 20 | — |
| TAYO AKINOKUN | VICE PRESIDENT | 1 | — |
| JIM APOSTOLIDES | VICE PRESIDENT | 1 | — |
| LEANN COPPOLA | MANAGEMENT | 20 | — |
| MARK MEHNERT | MANAGEMENT | 2 | — |
| GEORGIA MAGNO | VICE PRESIDENT | 1 | — |
| MUZZAMIL KHIDER AHMED | VICE PRESIDENT | 1 | — |
Recent News & Activity
Recent developments and announcements
**2024:**
The Baker Hughes Foundation awarded $400,000 to Historically Black Colleges and Universities
Baker Hughes Foundation Awards Grant to Support SEG\u2019s EVOLVE Carbon\Awarded a grant to support the Society of Exploration Geophysicists' EVOLVE Carbon Solutions Program
Baker Hughes Foundation Awards Grant to Support SEG\u2019s EVOLVE Carbon\**2023:**
November: Announced $750,000 in grants to nonprofit organizations nominated by Baker Hughes global employee resource groups, supporting causes across North America, Europe, Asia-Pacific, Middle East, United Kingdom, and sub-Saharan Africa
Baker Hughes Foundation Awards Grant to Support SEG\u2019s EVOLVE Carbon\April: Announced $270,000 in grants to nonprofits promoting diversity, equity, and inclusion, nominated by employee resource groups
**Ongoing Initiatives:**
The foundation has established a partnership with the Institute of International Education to support the Baker Hughes Scholars Program, which provides educational opportunities aligned with the foundation's mission.
Baker Hughes Foundation Awards Grant to Support SEG\u2019s EVOLVE Carbon\Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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