Iona announced the creation of the Hynes Institute on March 22 with a ceremony to thank the benefactors.

James Hynes ’69, ‘01H, and his wife Anne Marie Hynes, announced that they are donating $15 million to the College to create the Hynes Institute for Entrepreneurship and Innovation.

Hynes has served on the Board of Trustees since 1995 and as Chairman since 2008, according to the press release.

Glenn Horine, Interim Director of the Hynes Institute and professor in the Business school, opened the ceremony, followed by a blessing from Br. Robert Novak, as well as remarks by SGA President senior Kayla Kosack, President Dr. Joseph Nyre and James and Anne Marie Hynes.

“Jim and Anne Marie have come forward to support academic innovation, transformation and the elevation of Iona College,” Nyre said. “The Hynes Institute will provide instruction, inspiration and experiences for all students, regardless of major or school within the college.”

The donation was put towards the Iona Forever campaign, started in Fall 2015 toward its $150 million goal.

“I think this tremendous donation by the Hynes family is symbolic of the influence that Iona had on Jim Hynes and it’s indicative of the academic results that he and Anne Marie Hynes know students at this institution have the potential to produce,” senior DeVantè Spaulding said. “I would personally like to thank Jim and Anne Marie Hynes for their generosity and further advancing the value of an Iona College degree.”

Hynes mentioned that the program will give students what they need to start a business.

“Looking at this from a business major perspective, I love the concept of a hands-on learning experience,” junior Frank Burgess said. “This will give students an extra advantage when attempting to enter the workforce. Students will be better prepared for the corporate environment, rather than spending a lengthier amount of time learning the ropes once they’re hired.”

“Overtime, I discussed these views with Dr. Nyre and indicated that Anne Marie and I would be interested in starting an academic initiative,” Hynes said.

The Entrepreneurial Studies programs will help students in jumpstarting new ideas, according the press release.

A location for the new program has been found and the process of developing this program has taken a year. Students are being recruited to join the program, the press release also said.

Anne Marie Hynes will have a role in the design process of the program, according to Nyre.

A reception was held afterwards at which Westchester County Executive Robert Astorino was present along with other officials.

The job description for the endowed director role is posted on the Iona website.

The program is designed to prepare students for new careers.