Home Depot Foundation raises its commitment to veteran causes to $1 billion by 2032
The foundation, which says it has put more than $650 million into veteran causes since 2011, announced the larger goal on Oct. 22. Its newest grants go to nonprofits testing ways to house veterans faster, from master leases to modular homes.
Atlanta. The Home Depot Foundation said on Oct. 22 that it is raising its total commitment to veteran causes to $1 billion by 2032, and that the larger pledge will go mainly to housing: helping veterans who are homeless, or who live in housing that falls short, into homes they can keep. The foundation's previous goal, still shown on its parent company's site, was $750 million by 2030.
The Atlanta foundation, which is supported by The Home Depot, said it has invested more than $650 million in veteran causes since 2011 and improved more than 70,000 homes and facilities for veterans. It cited estimates that nearly 33,000 veterans are homeless on any given night and that more than 2.75 million live in inadequate housing.
What the newest grants pay for
The foundation said its latest round of grants to partner organizations will test new approaches and expand the ones that work. Two of them take aim at the cost of getting into a rental: a fund run with Open Doors Atlanta pays security deposits and application fees for veterans, and a master lease program at U.S.VETS, a Los Angeles nonprofit, rents units directly from property owners and places veterans in them.
Other grants pay for repairs to transitional housing and for renovations of permanent supportive housing for formerly homeless veterans, through partners such as Operation Homefront and Community Solutions. Purple Heart Homes, of Statesville, N.C., receives money to build modular homes for older veterans and veterans without stable housing. The foundation did not say how much any of the grants is worth.
“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.”
A summit and a season of volunteer work
On the day of the announcement the foundation held a national summit with the National Housing Conference, a Washington nonprofit, bringing together its nonprofit partners and people from the housing industry to discuss why veterans lose their housing and what can be done about it.
The pledge also coincides with the foundation's yearly Celebration of Service, in which Team Depot, the company's volunteer force of store employees, carries out hundreds of projects for veterans this fall in all 50 states and three territories.
Erin Izen, the foundation's executive director, told USA Today, which reported the pledge a day before the release, that the foundation means to study quickly which local programs work and then repeat them across the country. "No one can solve this alone," she said.
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