Since the late 1990s, a group of older Owls have been working to develop a charitable foundation to assist current Owls with financial assistance for their studies. Remaining a chapter of Pi Kappa Phi, the two organizations thus re-established in this fashion the underground local fraternity as a recognized campus community member. On Octothe young Kappa Rho chapter of Pi Kappa Phi fraternity on the Vermont campus was renamed as the Lambda Iota chapter in a partnership with Lambda Iota Society alumni, and took up residence in the historic Pearl Street mansion. Following this, a federal investigation was conducted surrounding cocaine trafficking that had occurred at a house owned by the society. In 2007, the society lost university recognition for 8 years. Members of Lambda Iota were commonly known as 'Owls' after their mascot. Welcome to the Southern Region website of Iota Phi Lambda Sorority, Inc. The place that members called home since the completion of the structure in 1913 is located at 440 Pearl Street, Burlington, Vermont. Iota Phi Lambda Southern Regional Website. Members included statesmen, academics, and successful businessmen. Until its loss of university recognition in 2007, Lambda Iota was the oldest existing local fraternity in the state of Vermont and the eighth oldest fraternity in the nation. There were thirteen original members who met regularly to share the written and spoken word. The Fraternity began as a secret literary society. Gamma Nu Chapter was organized in San Francisco, CA, on June 1, 1963.

Lambda Iota was founded on Apat the University of Vermont. (I) is the first African American Greek-lettered business sorority established by African American business women.

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