The purpose of ΣΙΡ is to promote and reward scholarship and service among students and faculty in higher education so as to foster creative performance and integrity in the conduct of world affairs.

Aptly, the Greek letters representative of the society is: sigma (Σ) denotes synesis, meaning "prudence"; iota (Ι) for ideodoi, "ideals"; and rho (Ρ) for rhomi, "power."

Currently, the president and national director of SIR are Dr Frank Plantan, Ph.D., co-director of the University of Pennsylvania's International Relations Program.

Additionally, the national office of the honor society administers an award scheme that funds worthy research projects by fellow members.

Upon induction, students have issued a certificate confirming membership, regalia for graduation ceremonies, and invited to participate in the organization's national networking group on LinkedIn.