The Jennings Scholarship is named after an outstanding gentleman, successful businessman and dedicated citizen to the city of New Castle, Richard P. Jennings, the first volunteer coordinator for the Indiana Basketball Hall of Fame.  His countless volunteer hours and tireless spirit are remembered by fellow volunteers each year as they raise scholarship funds.  His family has continued to generously support the Hall of Fame since Jennings death in 1995.

One boy and one girl are awarded a scholarship each year from two of the teams participating in the Hall of Fame Classic.

The Indiana Basketball Hall of Fame Volunteers conduct fundraising activities throughout the year to support this scholarship fund. Donations are welcome and appreciated.

Since its beginning in 1998 the scholarship fund has awarded well over $33,000 in scholarships.