COBB COUNTY, Ga. — The Home Depot Foundation announced Thursday it is increasing its total financial commitment to veteran causes to $1 billion by 2032.
The expanded funding will support housing initiatives aimed at addressing veteran homelessness and housing insecurity across the country.
The announcement comes as nearly 33,000 veterans experience homelessness on any given night in the United States, while more than 2.75 million live in inadequate housing.
According to the foundation, its funding efforts over the past 15 years have contributed to a reduction of more than 50% in veteran homelessness nationwide.
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Since 2011, the foundation has invested more than $650 million in veteran causes while repairing and improving more than 70,000 veteran homes and facilities.
Those efforts included expanding access to transitional and supportive housing alongside organizations such as Volunteers of America, Habitat for Humanity, Semper Fi & America’s Fund, the Gary Sinise Foundation, Tunnel to Towers and Jared Allen Homes for Wounded Warriors.
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Erin Izen, who serves as executive director of The Home Depot Foundation, explained the commitment as supporting the foundation’s belief that every veteran deserves a safe place to live.
“Our $1 billion commitment supports the partnerships and solutions needed to help more veterans move from uncertainty to long-term stability,” Izen said.
To assist veterans facing competitive rental markets, the foundation is supporting initiatives such as the Landlords, Organizations and Veterans Engagement Fund with Open Doors Atlanta and the U.S.VETS Master Lease Program.
These initiatives remove rental barriers by covering security deposits and application fees, or by leasing housing units directly from property owners, officials said.
“Master leasing is an innovative solution that helps veterans overcome one of the biggest obstacles to housing stability: access to affordable homes in highly competitive rental markets,” Darryl Vincent, president and CEO of U.S.VETS, said. “The Home Depot Foundation provides the support to test and refine new models like this in cities across the country, so more veterans have the stability they need to rebuild their lives and move forward with confidence.”
The foundation also convened a national summit Thursday with the National Housing Conference to address the systemic causes of housing insecurity.
Additional grants will fund housing stabilization and facility renovations through Operation Homefront and Community Solutions, as well as modular home construction for senior veterans through Purple Heart Homes.
The funding announcement coincides with the foundation’s annual Celebration of Service initiative.
Through the initiative, Team Depot, the company’s volunteer force, will complete projects supporting veterans across all 50 states and three U.S. territories.
A recent project on the National Mall in Washington, D.C., involved constructing a fully accessible modular home in partnership with Purple Heart Homes for James “Jim” Taylor, a U.S. Marine Corps veteran who previously experienced homelessness.
Following its construction on the National Mall, Taylor’s home was transported to Virginia, where a formal dedication ceremony will take place later this year.
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