The Philcon Society seems to have been an open membership organization set up in later 1946 to help fund Philcon I, the 1947 Worldcon. Membership was $1 which gave free membership in the Worldcon. (Ah, the Good Old Days!) So it appears that, basically, it was how they sold advance attending memberships. Milton A. Rothman (who chaired the convention) was also President of the Society.
See Fantasy Advertiser #1.5 p25 for an ad.
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When there's a floreat (Fl.), this indicates the time or times for which we have found evidence that the club existed. This is probably not going to represent the club's full lifetime, so please update it if you can!