President Barack Obama will donate his $1.4 million Nobel Peace Prize award to 10 charities, the White House said Thursday.

These organizations receiving the money "do extraordinary work in the United States and abroad helping students, veterans and countless others in need," Obama said in a statement. "I'm proud to support their work."

The list of charities includes:

• $250,000 to Fisher House, a group that helps provide housing for families of patients receiving medical care at military and Veterans Affairs medical centers;
• $200,000 for the Clinton-Bush Haiti fund, which supports relief efforts in the earthquake-ravaged nation;
• $125,000 for the College Summit, which helps prepare students for college; and
• $125,000 for the United Negro College Fund, which helps more than 60,000 students attend college annually.

Obama was awarded the 2009 Nobel Prize for "extraordinary efforts to strengthen international diplomacy and cooperation between peoples," according to the Norwegian Nobel Committee.