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The alumni chapter Phi Beta Sigma Fraternity, Inc. (Alpha Alpha Epsilon Sigma) Scholarship Awards Ceremony is held every year at a Joint Founder's Day celebration. Phi Beta Sigma Fraternity, Inc. and Zeta Phi Beta Sorority, Inc. share the month of January as their month of establishment. Each year these two organizations honor the founder's of their respective organizations. They also celebrate their unique relationship as the only "True brother and sister
organization" who are constitutional bound. At this joint celebration we honor outstanding high school and college students for there academic excellence with monetary scholarships and grants.