What's Happening?
Bequest Boosts Foundation Endowment
Philip D. Brandes, who invested his entire professional career with the General Electric Company as an engineer, died last August at the age of 92. Family members describe Mr. Brandes as leading a quiet, somewhat reclusive life outside of his professional pursuits. But what he did in expressing his philanthropic spirit will speak loudly for generations to come. His bequest of $100,000 adds to the endowment of The Schenectady Foundation which, in turn, is invested for the long-term to provide annual income for critical community needs and programs.
"This is typical of many gifts we have been fortunate to receive," said Robert Carreau, executive director of the Foundation. "Mr. Brandes was not necessarily known in the community as a philanthropist, but this generous contribution through his estate will really make a huge difference over time. Each gift that further builds the endowment leaves a lasting legacy that will forever benefit the community. We will take very good care of this gift, ensure that it is well invested, and that the income from that investment is spent wisely."
Mr. Brandes was a proud veteran of World War II, having served in the Pacific area. After graduating from R.P.I under the G.I. Bill with a degree in engineering, he spent his career with GE working in Schenectady and Pittsfield.
The gift is made more special by its connection with long-time Foundation leader Mark Handelman, who was Brandes' nephew. Mark served on the Foundation's Distribution Committee for four terms and, along with his wife Barrie, has made plans to support the Foundation through their estate plan.
"Leaving a legacy is something anyone can do, and should consider" said Handelman. "While serving on the Distribution Committee I saw first-hand the many needs in the community, and that the Foundation is very discriminating when deciding how to manage and spend contributed resources. It's an important and enduring resource for Schenectady, and it makes me proud to see how my uncle made sure to support the community in his will".
Mr. Brandes is also survived by his niece, Marsha Handelman Jaros.
