Contributor Spotlight

Robb Gift Adds to Foundation Endowment

Anne and Walter L. Robb recently joined the list of contributors to The Schenectady Foundation's endowment by making a gift of interest in a limited partnership valued at more than $3 million.

Dr. Robb, a long-time Schenectady resident, entrepreneur, philanthropist and former leader of GE's Research & Development Center in Niskayuna -- one of the worlds largest and most diversified industrial laboratories -- is also a member of the Foundation's Distribution Committee.

The gift will generate annual income for the Foundation to support its grants and scholarships while the principal remains under the control of the limited partnership. Eventually, the gift will be permanently added to the Foundation's endowment.

"This was a great way for me to help the Foundation and our community, while still being able to direct the partnership's assets for the short-term," said Dr. Robb. "This was an unusual gift opportunity for us. But making a meaningful gift to the Foundation is something every community resident can do in their own way."

Dr. Robb is the author of numerous publications and holds a dozen patents. In 1993, he received the National Medal of Technology from President Clinton. He is Chairman of the Board of Directors of Capital District Sports, owner and operator of the Albany River Rats, and is on the boards of Proctor's Theatre, the Double H Ranch for seriously ill children and many private companies.

"Walt has always been an innovator," said Foundation Administrator Robert Carreau. "This gift was both generous and creative! We hope that it inspires others to join our growing list of supporters."