Established in 1938, the Pi Lambda Phi Educational Foundation was created to provide for the educational and scholarship needs of the undergraduate Brotherhood and Fraternity in general. After a period of inactivity, a new organization was incorporated, which today is The Pi Lambda Phi Educational Foundation. The original mission of nurturing the ideals and traditions created by its founders continues through its sponsorship of scholarship, educational and leadership programs for its undergraduate brothers, as well as the presentation of humanitarian and special achievement awards to non-Pilam individuals.
The Educational Foundation is governed by a Board of Trustees and guided by the insights of an Advisory Committee of alumni brothers. Through a variety of carefully guided programs, the Foundation provides undergraduate brothers educational videos and materials on alcohol abuse and date rape; organizes seminars on combating prejudice and hate on various campuses, funds scholarships for undergraduate and graduate study and offers leadership development opportunities.