Iona University Raises More than $1.6 Million at Annual Trustees Scholarship Award Gala
Each year, the Trustees Scholarship Award Gala celebrates Iona's enduring commitment to service and scholarship.
On April 29, 2026, Iona University hosted its annual Trustees Scholarship Award Gala at Cipriani 42nd Street in New York City, welcoming more than 500 guests and raising more than $1.6 million in support of student scholarships. The event celebrated Iona's enduring commitment to service and scholarship, paying tribute to those who embody the University's mission of transforming lives through the power of education. The evening featured vibrant performances by the Iona University Pipe Band, the Irish Step Dance team, and the Iona NightinGaels.
The Iona Legacy Award recognizes individuals whose careers and civic contributions reflect the values at the heart of an Iona education. This year's 2026 Legacy Award was presented to Timothy Murphy, vice chair of Mastercard and a member of the company's executive leadership team and management committee.
The event was co-chaired by Alfred F. Kelly Jr. '80, '81MBA, '19H and Peggy Kelly '81, '84MBA. Al Kelly, current Iona Trustee and retired Chairman and CEO of Visa, also served as emcee, setting the tone for an evening rooted in gratitude and mission. "For more than sixty years, this Gala has been an act of faith - that when you invest in a young person, the return is immeasurable," said Kelly. "The dollars raised here have opened doors, changed trajectories, and set in motion lives of purpose."
Iona President Seamus Carey, Ph.D., reflected on what an Iona education means in today's world. "We are navigating a world that is new, uncertain, and still taking shape. What will guide us is not only what we know, but who we are - our values, our purpose, and our commitment to using what we've been given for the good of others," President Carey shared. "That is what we strive for at Iona, where we believe there is nothing more important than the education of the young and the renewal of the world."
2026 Legacy Award: Timothy Murphy
From left: Seamus Carey, Ph.D., Iona President, and Timothy Murphy, Vice Chair, Mastercard.
Murphy brings more than 25 years of leadership at Mastercard, where he has held senior roles including Chief Administrative Officer, General Counsel, Chief Product Officer, and President of the U.S. Region. He currently serves as a global ambassador, focusing on strategic engagement with regulators and policymakers. Beyond his corporate work, Murphy is deeply engaged in civic leadership. He chairs the Board of Trustees of the National Urban League and co-chairs the Cyber Readiness Institute, while serving on multiple boards and advisory groups across business, policy, and nonprofit sectors.
In accepting the award, Murphy spoke to the meaning of legacy and the enduring work of the University. "Legacy is about responsibility - what we choose to support, what we sustain, and whether we leave the doors we walked through open for others to follow,” Murphy shared. "For more than 85 years, Iona has done just that, forming thoughtful and compassionate leaders for a complex world. If our partnership can help advance that mission, then this honor is truly shared."
Proceeds from the Gala directly benefit scholarship support for Iona University students, ensuring that a transformative education remains within reach for deserving young people. Learn more about support opportunities here.
From left: Alfred F. Kelly Jr. '80, '81MBA, '19H, Mindy Murphy, Timothy Murphy, Vice Chair, Mastercard, and Seamus Carey, Ph.D., Iona President.
This year’s Gala welcomed more than 500 guests and raised more than $1.6 million in support of student scholarships.
In accepting the award, Murphy spoke to the meaning of legacy and the enduring work of the University. "Legacy is about responsibility - what we choose to support, what we sustain, and whether we leave the doors we walked through open for others to follow. For more than 85 years, Iona has done just that, forming thoughtful and compassionate leaders for a complex world."
The evening featured vibrant performances by the Iona University Pipe Band, the Irish Step Dance team, and the Iona NightinGaels.
"[At Iona], we believe there is nothing more important than the education of the young and the renewal of the world," Iona President, Seamus Carey, Ph.D.
The event celebrated Iona's enduring commitment to service and scholarship, paying tribute to those who embody the University's mission of transforming lives through the power of education.
ABOUT IONA
Founded in 1940, Iona University is a master's-granting private, Catholic, coeducational institution of learning in the tradition of the Edmund Rice Christian Brothers. Iona's 45-acre New Rochelle campus and 28-acre Bronxville campus are just 20 miles north of Midtown Manhattan. With a total enrollment of over 4,000 students and an alumni base of 55,000 around the world, Iona is a diverse community of learners and scholars dedicated to academic excellence and the values of justice, peace and service. Iona is highly accredited, offering undergraduate degrees in liberal arts, science and business administration, as well as Master of Arts, Master of Science and Master of Business Administration degrees and numerous advanced certificate programs. Iona students enjoy small class sizes, engaged professors and a wide array of academic programs across the School of Arts & Science; LaPenta School of Business; NewYork-Presbyterian Iona School of Nursing & Health Sciences; and Hynes Institute for Entrepreneurship & Innovation. Iona also continues to be recognized in prestigious national rankings. Most recently for 2025, Iona has been named one of the nation’s best colleges by The Princeton Review, The Wall Street Journal, Forbes and others. Additionally, U.S. News & World Report recognized Iona as one of top for social mobility in the country, while Georgetown University's Center on Education and the Workforce (CEW) ranked an Iona degree in the top 6 percent nationally for long-term return on investment. Iona’s LaPenta School of Business, meanwhile, is also accredited by AACSB International, a recognition awarded to just 6 percent of business schools worldwide. In addition, The Princeton Review once again named Iona to its “Best Business Schools for 2025,” recognizing both its on-campus and online MBA programs. Connecting to its Irish heritage, Iona also opened a new campus in County Mayo, Ireland, located on the historic 400-acre Westport House Estate. A school on the rise, Iona officially changed its status from College to University on July 1, 2022, reflecting the growth of its academic programs and the prestige of an Iona education.