Wal-Mart recently announced it will provide up to $4.5 million through its Teacher Rewards program to help teachers buy school supplies, such as clipboards, pens, crayons, markers and pencils. The retail giant expects this initiative will help 90,000 teachers across the country offset the costs of buying school supplies for their classrooms. Every year, some teachers run out of supplies and end up paying for additional items out-of-pocket.

"Each year teachers across the country provide their time, talents and often their own money to ensure students have what they need to be successful in the classroom," said Michelle Gilliard, senior director of giving at Wal-Mart.

Now in its fourth year, the program aims to send teachers back-to-school with the support and resources they need to properly educate students and foster the next generation of America's leaders, Gilliard added. The program will take place at more than 4,600 locations, including Wal-Mart stores, Sam's Club location and Distribution Centers. Participating stores can select one K-8 public school and present 20 teachers with $50 rewards cards.

Schools that receive funds through annual corporate giving efforts can ensure the donations are correctly tracked with fund accounting program.