The beloved couple is spreading funds across the Motion Picture and Television Fund, the Los Angeles Fire Foundation, SAG-AFTRA Foundation Disaster Relief Fund, the American Red Cross and MusiCares.

"Now we must all move forward to what is next for our city, communities, and neighbors," the couple wrote in their announcement, urging others to join

Tom Hanks and Rita Wilson have made a $1 million donation towards Los Angeles wildfire relief, as well as towards the first responders who helped fight the blazes that devastated Southern California in January.