Paul Shoemaker of Social Venture Partners told the Seattle Times that Henningsgaard was "an incredibly good, real, honest man, for the community, for his family, for this world."
"The guy has already done so much for the world. And he was going to do so much more," he said.
The 10-seater plane, a Rockwell International Turbo Commander 690B, flew out of Teterboro Airport in New Jersey and crashed at 11:25 a.m., the Federal Aviation Administration said. Neighbors reported they did not near any engine noise immediately before the crash.
Tweed's airport manager, Lori Hoffman-Soares, said the pilot had been in communication with air traffic control and hadn't issued any distress calls.
"All we know is that it missed the approach and continued on," she said.
A neighbor, David Esposito, was among those who raced to help the children's mother. He said he ran into the upstairs of the house, where the woman believed her children were, but he couldn't find them after frantically searching a crib and closets. He returned downstairs to search some more, but he dragged the woman out when the flames became too strong.
Henningsgaard spent 14 years at Microsoft in various marketing and sales positions, according to his biography on Social Venture Partners website. He was a longtime board member at Youth Eastside Services, a Bellevue, Wash.-based agency that provides counseling and substance-abuse treatment, and led the organization's $10.7 million fundraising campaign for its new headquarters, which opened in 2008.
A vigil for the victims of the crash was planned for Saturday night in an East Haven park.
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Associated Press writers Steven DuBois in Portland, Ore., Gene Johnson in Seattle and John Christoffersen in East Haven, Conn., contributed to this report.