The North Carolina Phi Beta Lambda Foundation, Inc. established in 2002 is a non-profit, volunteer-based 501 (c) 3 corporation. The Foundation strives to provide students with education and skills that will enhance their knowledge of the business world in areas of leadership, management, organization, and professionalism. Over $10,000 has been distributed to NC PBL students since 2002 in the form of scholarships and state officer apparel; and $12,000 has been raised for support of the state conferences (competitive event sponsors, adviser appreciation, and conference sponsorships).

Phi Beta Lambda is a national, non-profit organization for post-secondary students enrolled in business classes or interested in the field of business. The purposes of the Foundation include support of the educational and financial needs of members of the NC Phi Beta Lambda State Chapter. The year’s activities culminate with the annual State Leadership Conference held for all local chapter members and advisers. Students compete in over 50 oral and written events and then top winners go to the National Leadership Conference to compete with their peers from colleges across the nation.

Through contributions to The NCPBL Foundation, Inc. has been able to make the following grants:

Provide jackets for each year's State Officer Team

Give three $650 Scholarships to deserving PBL members

Offset expenses for the State Leadership Conference

Provide sponsorships to offset expenses for awards