Graham Rahal raised $40,900 in an online charity auction of an autographed race helmet displaying Paul Newman movie posters.
The late actor was a co-owner of Rahal's IndyCar Series team.
"Paul Newman set such a tremendous example of the impact that can be made by giving back and doing what you can for others," Rahal said Tuesday. "I hope he would have been proud of what I was able to accomplish."
The money will go to Flying Horse Farms, a 200-acre site in Mount Gilead that will open in 2010 as the first Hole in the Wall Camp in Ohio. The camp will include a medical center and buildings devoted to aquatics, horseback riding, nature, arts and crafts and lodging for 120 children.