[1][2] Its founders were faculty members Carl Milton Beecher, Louis Norton Dodge, and Walter Allen Stults.

[4]: 5 The Greek letters Pi Kappa Lambda were chosen for the name of the society based on the initials of its first member, Peter Christian Lutkin who was the dean of the School of Music at Northwestern University.

[8][4]: 20 Pi Kappa Lambda's seal is a depiction of its key, enclosed with a circle surrounded by a row of stars with the words "Incorporated, A.D.

[9] Its regalia also includes a gold medallion bearing the society's insignia and hung on a white ribbon.

[1] Pi Kappa Lambda holds a biennial national convention in even-numbered years, sometimes in conjunction with other organizations.

[11][1] It also sponsors the publication of a series of monographs on American music, grants scholarships and certificates of honor to outstanding freshmen and sophomore students, holds composition contests, and provides other services in its program of activities.