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Have college greek-letter organizations outlived their usefulness? This quantitative study sought to answer the question do members of historically Black fraternities at predominantly White institutions (PWIs) perceive fraternity involvement as important to the process of developing/acquiring: leadership skills, leadership traits, and leadership roles? Additionally, perceptions were sought regarding the relative importance of fraternity involvement to their educational experience and anticipated future success. A three-section Likert- scale survey instrument was mailed to a random sample of undergraduate members of Kappa Alpha Psi Fraternity attending PWIs across the United States. Independent variables of leadership characteristics included: four skills (Communications, Negotiation, Organization, Time Management), nine traits (Courage, Decisiveness, Dependability, Judgment, Sensibility, Loyalty, Enthusiasm, Endurance, Initiative), and eight roles (Monitor, Coordinator, Director, Producer, Innovator, Broker, Facilitator, and Mentor). The dependent variables were perception of preparation and perception as being essential.