[1] Students at the College of William & Mary founded the Bishop James Madison Society in 1812, immediately after the death of its namesake.

[6] In the 20th century, William and Mary students along with David L. Holmes, professor emeritus of religious studies, revived the society.

Public activities include placing banners on Old Campus to welcome new students during Convocation and families on parents' weekend, hiding plastic Easter eggs filled with candy and interesting facts about the college throughout the campus, and sponsoring coffee dates designed to increase dialogue among students, administrators, and faculty members.

[6][7] Its most prominent activity is its Last Lecture Series, which invites one retiring faculty to speak about current social or academic issues each spring semester.

[6] During the college's annual commencement exercises, some graduating members identify their involvement by wearing medals featuring the society's symbol.