 Schaechter received the Itzik Manger Prize, the most prestigious Yiddish literary award, in 1994; the Khayim Zhitlowsky Award in 1984; and the Osher Schuchinsky Award from the World Congress for Jewish Culture in 1986.His achievements in the cultural sphere are no less impressive than those in the literary or academic sphere.He is the founder of the League for Yiddish and served as its executive director from the inception of the organization in 1979 until his retirement in 2004.