Iona Prep is the brother school to local Catholic girls' school The Ursuline School. It shares a history with nearby Iona College, which was founded 24 years after the Prep in 1940. The Prep and college shared a common campus at 715 North Avenue until the Upper School completed the move in 1968 to its fifth and final home on a 27-acre campus at 255 Wilmot Road. It includes the formerly separate K-8 Iona Grammar School, now the Iona Prep Lower School, which is located on a separate campus of 10 acres.