lies who made sacrifices for us, and they had high expectations of us to excel,” Carl says. “When you have a loving family and others who believe in you, you are inspired not only to do good but also to help others reach their potential.” “Of those to whom much is given, much is required,” Joyce chimes in. The Federal Reserve Bank of New York Carl W. Turnipseed is executive vice president in charge of the Financial Services Group of the Federal Reserve Bank of New York. He is the most senior African-American official at the NY Fed and is a member of the Bank’s executive committee. Carl credits a great deal of his career success to the educational foundation he received at Morgan. He earned a B.S. in business administration at MSU, while his future wife, Joyce, was earning her B.S. at Morgan in sociology. “Who would have thought that a guy from Darley Avenue (in East Baltimore) could rise to one of the highest position at the New York Fed, the most important of the nation’s 12 regional reserve banks,” Carl says. He remembers “the highly competent, caring and demanding instructors at Morgan, many of whom had been denied job opportunities in mainstream industry. Our instructors challenged, nurtured and prepared us, and they expected us to be leaders and succeed in life.” In a Bloomberg article published on Nov. 8, 2010, Carl conveyed the importance of his Morgan State education to his successful, 40-year career at the NY Fed. Carl and Joyce were so grateful for the opportunities they had had to receive a quality education, and for the important roles their family and professors had played in their lives, that they decided to support the excellent work being done at Morgan. “We both came from hard-working fami-
The Turnipseeds are both members of the Morgan State University Alumni Association and the 1867 Club, whose members contribute $10,000 or more to the University. In addition, the Turnipseeds have made a generous donation to MSU President Dr. David Wilson’s $5 Endowed Scholarship Fund, named for the sum that Dr. Wilson’s father, an Alabama sharecropper, was able to give his son to start college. Both Carl and Joyce have donated to the Class of 1969 Scholarship Endowment Fund, of which Carl has been a strong supporter. To date, the Class of 1969 has raised $82,000 and plans to add $25,000 annually leading up to its 45th anniversary in 2014. Joyce has contributed to the $134,000 in pledges made for her Class of 1970 Scholarship Endowment Fund. The Turnipseeds, who reside in New York, say they look forward to connecting with family and friends at Morgan’s annual Homecoming activities, especially the Morgan Gala. “But we also look forward to attending the University’s Annual Scholarship Luncheon each spring “to show our interest in and support of the recipients of our scholarship,” notes Joyce. She adds that it is very encouraging to see the bright and talented scholarship recipients and the other donors each year. Carl is a member of the Morgan State University Hall of Fame and serves on the board of the Morgan State University Foundation. He also enjoys being active in organizations that address the needs of young people and the community, such as the boards of directors of NY/NJ INROADS and Classroom Inc., a
program designed to teach middle school and high school students critical thinking skills using personal computer-based business simulations. Although the Turnipseeds are very modest about their philanthropic efforts, they are clearly strong supporters of Morgan and its mission to make educational opportunities available to urban youth. Toward that end, they devote considerable time mentoring young people. “We speak to high school students about the college experience and the challenges of competing in today’s global environment. We tell them that with the right preparation, drive and determination, they too can achieve their aspirations,” Joyce says. “Chance favors the prepared mind” is one of Carl’s favorite quotes, says Joyce. “More importantly, there’s a role that all alumni can play,” Carl says, “whether it is giving their time, donating their money or utilizing their talent(s).” The Turnipseeds have been married 41 years. They attended school together at Dunbar High School in East Baltimore, then at Morgan, then at New York University, where both earned their M.B.A. degrees: hers in finance and his in management and finance. Carl is also a graduate of senior executive programs at Columbia University and Harvard Business School. Joyce worked for Moody’s Investors Service after earning her M.B.A. and continues to use her financial expertise in a number of consultancies and board positions. Carl and Joyce are the proud parents of Danielle Turnipseed, a graduate of the University of Maryland School of Law, the University of Michigan Graduate School of Public Policy, and Duke University. “For sure, I wouldn’t be where I am today had it not been for the strong support of my family and mentors — those who paved the way for all of us — and my educational preparation at Morgan,” says Carl. MORGAN MAGAZINE V O L U M E I 2 0 11
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