Phi Beta Kappa is the oldest and, arguably, the most prestigious academic honorary in the United States. Only about ten percent of U.S. universities have been granted the right to shelter a chapter of Phi Beta Kappa, and only about ten percent of graduates with excellence in the liberal arts and sciences at these distinguished institutions are selected for lifetime membership.

Phi Beta Kappa was founded on December 5, 1776, at the College of William and Mary in Williamsburg, Virginia. Chapters were formed shortly thereafter at Harvard and Yale, and the society has been in continuous existence ever since.

With its roots established during the American Revolution, Phi Beta Kappa has for more than two centuries fostered the principles of freedom of inquiry and freedom of thought and expression. These ideas, symbolized on the society's distinctive gold key, promote the foundations of personal freedom, scientific inquiry, liberty of conscience, and creative endeavor. The letters Phi Beta Kappa (ΦΒΚ) represent the Greek initials of the society's motto: “Love of learning is the guide of life.”