Lowe's recently announced it will donate $1 million for Hurricane Sandy disaster relief. The home goods company has made a three-pronged pledge to raise awareness for those affected by the hurricane.

The first part includes a matching donation for Jimmie Johnson's winnings in an upcoming NASCAR race at Texas Motor Speedway. Lowe's will also accept donations in stores for the American Red Cross and volunteers will deliver support and relief supplies to affected communities through the Lowe's Heroes program.

"Our thoughts are with all the families who have been impacted by this historic storm, and we're focused on working closely with our partners in the days and months ahead to deliver funding, supplies and volunteer support to the hardest-hit areas," said Robert Niblock, Lowe's chairman, president and CEO. "We're proud to stand by the Red Cross as they continue to respond to the needs of local communities."

As foundations look to mobilize quickly in response to major events, they can consider using digital software such as nonprofit financial management programs that allow them to disperse much-needed funds sooner.