In celebration of the soon-to-be released Blu-ray and DVD of the Tony Award-winning Broadway production of "Shrek the Musical," the companies made the donation to the non-profit National Association for Music Education, which will create five $10,000 grants to help save music and arts programs in schools.
Schools are invited to enter to receive a grant for their school music program at www.ShrekDay.com.
All entries must be received by Oct. 31, and following a random drawing, five schools will be announced as winners Nov. 4.
"Music is an essential part of every student's educational experience; it teaches cooperation, collaboration, creativity, and communication. It is important to support school music programs so children can enjoy the lifelong benefits of music study," Michael A. Butera -- executive director of National Association for Music Education and Give a Note Foundation -- said in a statement Thursday.
"'Shrek the Musical' tells a story of love, friendship and finding your true self. The fact that the story is enhanced by music demonstrates the true power of musical expression. We're very grateful to DreamWorks Animation and Twentieth Century Fox Home Entertainment for their support and generosity."
"We are proud that our live theater experience can give back to the educational community through this grant program," said Bill Damaschke, chief creative officer at DreamWorks Animation, who also served as the producer of the Broadway show. "Full of high energy and fun, 'Shrek the Musical' is a great introduction for kids to experience the magic of live theater. The 'Shrek' franchise continues to entertain audiences in a number of different ways."
Celebrity Families of 2014 [PHOTOS]