- IUB Athletics Hall of Fame (2015)
- Z.G. Clevenger Award (2011)
Thomas C. Abernethy was a starter on 1976 NCAA Champion Indiana University Basketball team, the last undefeated team to win the Championship. He was then an NBA player with the Los Angeles Lakers, Golden State Warriors and finished his NBA career with the Indiana Pacers. He played in Europe on several pro teams before owning his own company, The Abernethy Company, in Indianapolis which deals in industrial real estate, development and property management.
He also owns the Indianapolis Basketball Academy, a training facility for the sport; he oversees all areas of operation of the IBA. He started IBA in 1995 and has watched the business grow in numbers of kids touched, and numbers of programs offered.