Incorporated in the state of Missouri in 1990, the Pi Beta Phi Foundation was established as a public charity under Internal Revenue Code 501(c)(3). The reason for establishing the Foundation was to create a vehicle whereby Pi Beta Phi members and friends could make tax deductible donations to fund qualifying programs for the Pi Beta Phi Fraternity and its members.

Early Foundation endeavors included:

• The Marianne Reid Wild Society for planned giving created in 1992
• Campaign for Arrowmont raised over $2.5 million (completed in 1995)

The Foundation inherited two of its major programs from the Fraternity, enabling donations to those funds to be tax deductible:

• In 1994, the Emma Harper Turner Fund was transferred
• In 1995, the Friendship Fund was transferred

 Foundation Presidents from founding to present include:

Ann Dungeon Phy, Texas Alpha                            1990-1995

Adrienne Hiscox Mitchell, Kansas Alpha              1995-1997

Betty Blades Lofton, Indiana Gamma                  1997-2001

Elizabeth Davenport Garrels, Iowa Alpha             2001-2003

Betty Blades Lofton, Indiana Gamma                  2003-2005

Jean Wirths Scott, Pennsylvania Beta                  2005-2007

Rebecca Smith Jones, Indiana Alpha                   2007-2008

Lisa Gamel Scott, Colorado Alpha                         2008-2009

Peggy Wilson Lawrence, Tennessee Gamma       2009-2011

Kathy Swinea Nevill, Tennessee Gamma             2011-