How do I organize all the kids projects and papers?

All 3 of my children love design, color and art as much as I do and tend to have a lot of paper!

Because I hate when there is a clutter of paper and I like things to be aesthetic as well as useful, here is something that I am trying to do, to cut down the clutter of papers and projects that my children bring home from school.

I have a few things I do:
1) I have a receiving basket in the kitchen where it all (supposed to) goes. When we see it piles then we go through what they think is their favorite and then whatever we can part with, but would like to keep a memory of, I then have them take photos of those pieces (it takes much less space).
2) for the rest that we cant part with, I have containers for each of my children, like the scrapbook sort of size and we store those pieces for keeps. Eventually they and you will be able to part with more:)
3) for the permission slips and other papers they need me to see, they have to put it in another basket that I check daily.

I hope this helps:)