In addition to timely articles, each issue of National Forum contains selected poetry and reviews of current books and periodical literature. Active members of the Society also receive bimonthly issues of the Phi Kappa Phi Newsletter . The Newsletter features news items of interest to members on both the national and local levels. The Phi Kappa Phi Foundation was incorporated in 1969 to promote academic excellence and achievement by means of scholarships and fellowships. To support first-year graduate work, the Society offers annually through the Foundation 50 Fellowships and 30 Awards of Excellence, on a competitive basis, to graduating students who have been initiated into the Society and who have also been nominated by their chapters for the competition.
Many chapters also have their own local scholarship program.
In 1897 a group of 10 students at the University of Maine, who perceived a need for an honor society on broader lines than any then in existence, was assisted by interested professors to organize the Lambda Sigma Eta Society. A year or so later the name was changed to the Morrill Society, in honor of the sponsor of the Congressional Act which provided for land-grant colleges. The chapters in these institutions are the founding chapters. Phi Kappa Phi currently has chapters in institutions from Maine to the Philippines and from Alaska to Puerto Rico.