DENVER -- President Obama said Thursday that he will donate $125,000 of his Nobel Peace Prize money to the American Indian College Fund. The Fund is among nine charitable organizations that will receive donations from Obama's $1.4 million prize.

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

Richard Williams, president and CEO of the American Indian College Fund, said in a written statement that the money will be used to support American Indian scholarships at 33 accredited tribal colleges and universities.

"We are thrilled that President Obama has chosen to publicly acknowledge the work the American Indian College Fund is doing in Indian Country by sharing $125,000 of his prestigious Nobel Peace Prize award with us," Williams said. "As a result of President Obama’s vision and leadership, through his donation to the Fund along with nine other outstanding charities, he is setting an example for how all Americans can help those less fortunate."

According to the White House statement, the other charities receiving donations include Fisher House, which provides housing for families of patients receiving medical care at major military and VA medical centers; the Clinton-Bush Haiti Fund, which raises money for long-term relief efforts in Haiti after its earthquake; College Summit, which partners with elementary and middle schools and school districts to increase college enrollment and student preparation; the Posse Foundation, a scholarship organization that identifies public high school students with academic and leadership potential, who may be overlooked by traditional college selection processes; the United Negro College Fund, which helps 60,000 students yearly to attend college through scholarship and internship programs; the Hispanic Scholarship Fund, the nation's leading Hispanic scholarship organization; the Appalachian Leadership and Education Foundation, which supports and enables young Appalachians to pursue higher education though scholarship and leadership curriculum; AfriCare, which supports health and HIV/AIDS, food security and agriculture, and water resource development projects in 25 countries; and the Central Asia Institute, which promotes and supports community-based education and literacy, especially for girls, in remote regions of Pakistan and Afghanistan.