Future Business Leaders of America-Phi Beta Lambda is a nonprofit 501(c)(3) education association with a quarter million students preparing for careers in business and business-related fields. The association has four divisions: Future Business Leaders of America (FBLA) for high school students; FBLA-Middle Level for junior high, middle, and intermediate school students; Phi Beta Lambda (PBL) for postsecondary students; and Professional Division for business people, FBLA-PBL alumni, educators, and parents who support the goals of the association.

FBLA-PBL is headquartered in Reston, Virginia, and organization on local, state, and national levels. Business teachers, advisers, and advisory councils (including school officials, business people, and community representatives) guide local chapters. State advisers and committee members coordinate chapter activities for the national organization.

The FBLA concept was developed in 1937 by Dr. Hamden L. Forkner of Columbia University. The first high school chapter was chartered in Johnson City, Tennessee on February 3, 1942. In 1958, the first PBL collegiate chapter was chartered in Iowa. The Professional Division, originally the Alumni Division, began in 1979. Joining FBLA-PBL in 1994 was the FBLA-Middle Level for students in grades 5−9.

The national board of directors is comprised of local teachers, state educators, business leaders, and the division presidents.