The Puget Sound Mycological Society was founded in 1964 by the efforts of a small group of visionaries including Dr. Dixie Lee Ray, then director of the Pacific Science Center; Dr. Daniel E. Stuntz and Ben Woo. Since then it has grown to become one of the largest mushroom societies in North America. The purpose of PSMS is to foster the understanding and appreciation of Mycology as a hobby and a science, and to assist related institutions in these purposes. The society represents a variety of interests in fungi: the pothunter, the adventurous gourmet, the weekend naturalists, the serious amateur and the professional mycologist.

PSMS is organized as a nonprofit educational and scientific organization under section 501(C)(3) of the Internal Revenue Code. A board of elected trustees and officers conducts the society's business. The regular Board meetings are held the Monday after membership meetings and are open to interested members. Members meetings are held monthly, September through June. The Society also has a number of committees whose activities assist the Board in achieving its goals, which include Education, Field Trips, Membership, Annual Exhibit, Cultivation and more. Committee heads are conferred by the Board.

PSMS is a volunteer organization with no paid positions. Members are expected to contribute time and effort in helping the society prosper. Dues are set by the board to cover the costs of running the society. Presently the dues are $30 per annum for both individual and family memberships and $20 for a full-time student membership. Dues are payable by January 1st of each year. Book sales, the Annual Exhibit and other creative methods are employed to raise additional needed funds.

Education is the main focus of the Society. Opportunities to learn come through membership meetings, classes, field trips, the Annual Foray, the Fall Mushroom Exhibit, and volunteer projects with the University of Washington or the Department of Natural Resources. Older members are generous in their support of the eager new member's quest for knowledge about mushrooms.