 Seattle's Hope Heart Institute honored Raisbeck and his wife, Sherry, an artist and former special education teacher, with its "Wings of Hope" 2003 annual award for their leadership in philanthropy.The Raisbecks were selected as the 2007 Seattle-King County First Citizens for their generous support of local arts, education and medical research organizations.Purdue University honored Raisbeck with its Distinguished Engineering Alumnus Award in 1979, and presented him with its Outstanding Aerospace Engineer Award in 1999.