 The Phi Kappa Psi Foundation was formed to aid, encourage, promote and contribute to the education and scholastic attainments of Phi Psis and other students across the country.Organized in 1914, the Phi Kappa Psi Foundation is a 501(c)(3) nonprofit, public educational foundation.As such, the Foundation is the only charitable arm of Phi Kappa Psi entitling donors to a full tax deduction within the limits set by the Internal Revenue Code.