"[2] Although the society returned, it was to be disbanded once more; university historian Virginius Dabney records the final activity of the society as the 1911 distribution of stuffed animal specimens from the natural history museum about Grounds on Easter Sunday, and the assault of a student in his room.

Its motto is “Forsan et haec olim meminissi juvabit” or “And perhaps at some future time it may be pleasant to remember these incidents,”[5] a phrase lifted from Vergil's Aeneid.

The IMP Society engages in philanthropic activities around the University, presenting the IMP Award, given "to a faculty member who had been outstanding in promoting student-faculty relations and perpetuating the traditions of the university",[6] and the IMP Student-Athlete Award, given at graduation to a female athlete who has excelled in both the field and the classroom; and a recent student social justice-oriented community service fellowship.

In addition to philanthropy, IMPs are known to march around the grounds carrying pitchforks, wearing horned hoods, and engaging in mild mischief and revelry.

In 2004, the group was forced to apologize after using gasoline to start a bonfire on the Lawn during a nighttime ceremony.