Hardware Retailing The Industry's Source for Insights and Information
The Home Depot Foundation recently announced it is increasing its total commitment to veteran causes to $1 billion by 2032. Across America, nearly 33,000 veterans experience homelessness on any given night, and over 2.75 million live in inadequate housing. To address this crisis, the Foundation’s expanded commitment will tackle both immediate and long-term veteran housing challenges, including veteran homelessness, through scalable, innovative solutions.
“We believe every veteran deserves a safe place to call home,” says Erin Izen, executive director of The Home Depot Foundation. “Our $1 billion commitment supports the partnerships and solutions needed to help more veterans move from uncertainty to long-term stability.”
Since 2011, The Home Depot Foundation has invested more than $650 million in veteran causes, improved more than 70,000 veteran homes and facilities and contributed to a more than 50% reduction in veteran homelessness over the last 15 years.
Through its latest round of partner investments, the Foundation will also test and scale new approaches for long-term impact, such as:
- Collaborating Across Partners: With the National Housing Conference, the Foundation recently convened a national summit of nonprofit partners and industry leaders to discuss the systemic causes of veteran housing insecurity and identify solutions.
- Removing Barriers to Housing Access: The Landlords, Organizations and Veterans Engagement (LOVE) Fund, with Open Doors Atlanta and the U.S.VETS Master Lease Program, will accelerate veteran housing placements by removing rental barriers, such as security deposits and application fees, or by leasing units directly from property owners.
- Homelessness Prevention and Permanent Housing: The latest grants help provide housing stabilization resources, including repairs to transitional housing facilities and renovations for permanent supportive housing for formerly homeless veterans, through partners like Operation Homefront and Community Solutions.
- Alternative Housing Models: Additional funding will support alternative solutions, such as Purple Heart Homes’ modular home builds for senior and housing-insecure veterans.
“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,” says Darryl Vincent, president and CEO of U.S.VETS. “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 investment announcement coincides with the Foundation’s annual Celebration of Service initiative. This fall, Team Depot—The Home Depot’s associate volunteer force—will complete hundreds of projects supporting veterans across all 50 states and three U.S. territories.
A recent public build on the National Mall in Washington, D.C., highlighted these efforts. In honor of America’s 250th birthday, The Home Depot Foundation and Team Depot partnered with Purple Heart Homes to construct a fully accessible modular home on the Mall for James “Jim” Taylor, a U.S. Marine Corps veteran who overcame homelessness. After construction, the house was transported to Virginia, where a formal dedication will occur later this year for the proud new homeowner.
