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Obama Donates Nobel Prize Money

U.S. President Barak Obama has designated 10 charities to receive the $1.4 million award money that came with the Nobel Prize he received last year.

In a statement issued by the White House this week, the president named 10 organizations, many of them education groups, that will receive a share of the money.

Mr. Obama said the organizations do extraordinary work with students, veterans and countless others in the United States and abroad.

The president designated the largest amount, $250,000, to Fisher House, a non-profit organization that provides housing for families of patients receiving care at military and veterans medical centers.

Another $200,000 is going to the Clinton-Bush Haiti fund, for long-term relief efforts following that nation's devastating earthquake.

The other organizations are the College Summit, The Posse Foundation, the United Negro College Fund, The Hispanic Scholarship Fund, The Appalachian Leadership and Education Foundation, the American Indian College Fund, AfriCare, and the Central Asia Institute.

President Obama accepted the Nobel Peace Prize December 10 in Oslo, Norway.