Obituary of Francis H Schott

Francis (Frank) H. Schott, born April 10, 1926 in Cologne, Germany, passed away at age 94 on Sunday July 12, 2020 at his home in Ridgewood, NJ with all his children present. He was predeceased by his loving wife, Barbara W. Schott, in 2017. Frank came to the US in 1946 as a survivor of the Holocaust. He was a Phi Beta Kappa graduate of Oberlin College in 1949, and received his doctorate in economics from Princeton University. He began his business career in 1951, at the Federal Reserve Bank of New York, in the Research, Foreign and Securities Departments. He also served from 1962-63 at the US Treasury, as a consultant to the Kennedy Administration. In 1967, he was recruited to the Equitable Life Assurance Society where he became a Vice President and, in 1980, Senior Vice President and Chief Economist. Frank was a leader in the profession of business economics serving as president of the National Association of Business Economists (NABE) from 1977-78 and subsequently as a lifetime fellow, active in NABE leadership, where he spearheaded the creation of the association’s Certification in Business Economics (CBE) program. In New York City, he was a member of the Downtown Economists Club (Lifetime Achievement Award), the Forecasters Club and the Metropolitan Economic Association. After retirement, Frank served as director on multiple boards including the New Germany Fund and the Mutual of America as well as the Foundation for Child Development and Paterson NJ Habitat for Humanity (2013 Volunteer of the Year). His civic activities in Ridgewood included a term as trustee of the Board of Education as well as extensive work with the Citizen’s Park and Open Space Committees, contributing to the acquisition and development of important public spaces. He was a fine violinist and a generous patron of the arts. He was a dedicated member of the West Side Presbyterian Church (WSPC) since 1959 serving as an Elder, a Trustee, Treasurer and founding co-chair of the Refugee Resettlement Committee. An expert-rated chess player, he both competed in tournaments and taught chess as a rehabilitative skill through the West Side Prison Ministry. He is survived by his three children, Dr. Edward Schott (Trish), Dr. Carolyn Haury (John) and Dr. Pamela Schott, six grand children, a great-granddaughter, and a brother Alexander Schott. In lieu of flowers, donations may be made to the Paterson Habitat for Humanity www.patersonhabitat.org/donate or the WSPC Refugee Assistance Family Team (RAFT) at https://www.westside.org/a-history-of-helping-refugees/.