The Ingot Club was organized in 1931 by Elba Morse of Marquette, Michigan with 17 charter members. In the first by-laws there appears a short statement of purpose: Our main object is to unite within the bonds of a great national fraternity all business and professional women to the end that we may become better acquainted with each other, place ourselves in a position whereby our combined resources and energies we can be of mutual assistance, "elevate the standards" and "promote the interests of business and professional women"; widen our circle of friendship, promote the social and intellectual growth of our sex so as "to bring about a spirit of cooperation among business and professional women of the United States", and "extend opportunities" to women through education, especially vocational guidance; and strive for the development of all that is best in business and the professions so as to enable us to become a potent factor for the advancement of high ideals of life and a greater force for good in the world (1931-1932 By-Laws, Ingot Club of Business and Professional Women, Calumet, Michigan).

The club was involved in charitable activities around the Keweenaw including work with the Girl Scouts, Campfire Girls, Michigan Children Aid Society, and the Goodwill Farm. They also formed a separate group, the Hospital Auxiliary, which volunteered their time, money, and talents to the betterment of the hospital. They were also instrumental in organizing the Houghton-Hancock Business and Professional Women’s Club and established and ran an employment service for women during the Great Depression.