Unidentified photographer / artist n.d. Phi Beta Kappa key Archives of Modern Conflict OR National Gallery of Canada The honorary society Phi Beta Kappa was founded on December 5, 1776, at the College of William and Mary as an award for outstanding academic achievement. Since then, Phi Beta Kappa has evolved to become the nation's leading advocate for the liberal arts and sciences at the undergraduate level. Phi Beta Kappa elects over 15,000 new members a year from 270 chapters across the United States. The Society's distinctive emblem, a golden key, is widely recognized as a symbol of academic achievement. (Matt Isenburg)