I come from a rather humble background. My father was a sixth grade educated Pennsylvania coal miner who suffered a crushed pelvis in the mines and then worked in a sheltered work shop in Binghamton, NY later in life. My mother worked in a factory putting jackets on books. Together, they never made $20,000 in any year. My father taught me work ethic and to never quit. My mother taught me how to save and manage a budget.
Armed with a strong foundation from my parents, educational experiences at St. Lawrence and Rensselaer Polytechnic Institute, and valuable early career experiences at Bache & Co., Shearson Hayden-Stone, and Marine Midland Bank, I was able to start Karpus Investment Management in May of 1986. Thanks to our clients and our highly-experienced investment team, we have now grown to over $3 billion in assets under management and we employ 36 people. Thirty years ago, I could never have imagined the success that we have achieved. To me, life is all about friends, family and helping those in need.
Therefore, I have started The Karpus Family Foundation, a not-for-profit 501(c)(3) corporation, with an emphasis on helping people and animals in need. Promoting education is also a goal, with the ultimate objective of helping people live a productive life. My father never realized that the sheltered workshop where he worked was subsidized by donations. He took pride in the fact that he was working and earning a paycheck. This pride and sense of satisfaction is something I hope to rekindle in people who benefit from the Karpus Family Foundation.
George W. Karpus
President of the Karpus Family Foundation