Schoolwork organizer

I'm trying to revamp our family "launch pad" in time for the start of school and was hoping to have a box for each kid to drop off their school forms and stuff. The "numbered cubbies on the wall" plan is just not practical for us -- I don't need a lot of little cubbies, just a few big ones! So I modified it to work for us. The letters are each of my boys' initials.
Also, I used scrap wood and leftover paint. So basically the cost was almost nothing, just a few nails and some wood glue.