When my DCs were in elementary school there was always a class whip around with a suggested donation of $5 per family, and then the teacher would get a Visa gift card that could be used anywhere. Or an Amazon gift card.
Some families gave more than suggested and some never contributed. The teacher usually ended up with a gift card for about $150 to $200, with class size up to 25 students.
There was also a Birthday Book tradition, where parents would give a book with a gift sticker inside 'from Tarquin Featherstonehaugh, 2005' or they could make a donation for a book fund and one would be inscribed to honour the child.
The school sent out a supply list for students every year - parents provided everything that was available in the classroom for use by the students (markers, crayons, paints, paintbrushes, paper towels, antibac wipes and hand sanitiser, all writing paper, folders, boxes of tissues, plastic bags, rulers, smocks for art - the list ran to two pages). The teachers provided classroom decoration, charts, maps, little motivational items like stickers, etc.