[4][5] The fraternity has over ninety chapters at accredited four-year colleges and universities throughout the United States.

The following school year, Letterman and Moore decided to found a fraternity based on "the great joy of serving others" that they experienced during the epidemic.

[6] At the 1885 Grand Arch Council in Columbus, Ohio, a special committee was created to draft a new constitution.

[14] The coat of arms as adopted in 1908 has a sable (black) field, but today it is most often seen as shown in the adjacent infobox.

[5] The badge is a textured bordered shield with a lamp resting on a book at the bottom and an eye surrounded by two stars at the top.

[25] Entrance can only be gained by performing, to the satisfaction of the Order, one or more acts of benefit to the fraternity and attending at least seven Grand Arch Councils.

[25] The Order meets every two years, during Phi Kappa Psi's biennial Grand Arch Council.

[27] The Phi Kappa Psi Fraternity is composed of chapters and alumni associations, the former of which is the scope of this section.

When Phi Kappa Psi is extending to an institution that does not currently have a chapter, a probationary group called a "colony" is formed.

An active member of the fraternity is a full-time enrolled student at his chapter's host institution at the undergraduate, graduate, or post-graduate level; all others, including members who have graduated or transferred to a school without a Phi Psi chapter, are considered alumni.

Members typically join Phi Kappa Psi when a chapter extends an offer to enter into a probationary period known as pledgeship, which within the organization, and per National guidelines lasts no more than 6 weeks and concludes with initiation.

[28] There have been three exceptions to this: Despite policies put in place by the national fraternity to curtail hazing and other abusive behavior,[30][31][32] Local chapters or members have occasionally been involved in events that lead to deaths or sexual assault.

The following events have been cited as impacting chapters and their communities: In a since-retracted November 2014 article in Rolling Stone, Sabrina Erdely reported in detail allegations of a 2012 gang rape, and reported in brief on allegations of two subsequent gang rapes at the University of Virginia.

Rolling Stone apologized for the article,[50] and after investigating the accusations, Phi Kappa Psi, ABC News,[51] and The Washington Post said they had found significant discrepancies in the account.

The next day, leaders of the Phi Kappa Psi chapter announced the fraternity would file a lawsuit against Rolling Stone over the article.

[55] Rolling Stone has settled the case and paid the Phi Kappa Psi chapter at the University of Virginia $1.65 million.