In honor of Veterans Day over the weekend, the Home Depot Foundation renewed its commitment to veterans and announced a new goal of $750 million invested in veteran causes by 2030. The new goal was announced the same day that the Foundation invested its $500 millionth dollar in veteran causes since 2011, two years earlier than its goal. The new investment will be focused mainly on affordable housing and impact an estimated 50,000 veterans.
“The Home Depot and The Home Depot Foundation have a long history of living our values by giving back to the heroes who have selflessly served our nation,” said Ted Decker, chair, president and chief executive officer of The Home Depot. “We achieved our goal of investing half of a billion dollars in veteran causes two years earlier than expected because of the tireless efforts of our nonprofit partners and our associates who give back year-round through Team Depot. Our mission is not complete while there are still veterans who lack an affordable and reliable place to call home – that’s why we’re growing our commitment to $750 million by 2030.”
Nearly a quarter of all veteran-owned homes are more than 60 years old and more than 1.5 million veteran households report difficulty entering or moving around their home. According to the Department of Housing and Urban Development, more than 33,000 veterans are experiencing homelessness. Fortunately, in Georgia that number is relatively low with less than 1,000 homeless veterans in the state. However, nearly 100,000 live in homes with one or more problems of quality, crowding or cost, with cost as the biggest issue for roughly 25 percent of Georgia veterans.
There are nearly 400,000 veteran occupied homes in Georgia, about 10 percent of the state’s homes. Rate of home ownership is perhaps remarkably high, with more than 78 percent of veterans owning their homes and with a median value of $200,000. The median household income of Georgia’s veterans is $72,000, about $8,000 higher than the median income of all Georgia households.
The Foundation will work with longtime veteran housing partners like Habitat for Humanity International, Volunteers of America and Jared Allen’s Homes for Wounded Warriors to immediately dispense $14 million in new grants. Those grants will go toward nearly 1,000 critical home repair projects for veterans, more than 500 units of housing for at-risk veterans and five new, mortgage-free smart homes for combat-wounded vets. The December housing payments for more than 500 veterans will be paid and three veteran families will have their mortgages paid off completely.
Home Depot is one of the country’s largest employers of veterans, with tens of thousands of veterans, current service members and their spouses employed. That dedicated to veterans has also shown up in volunteer hours, with more than 1.5 million volunteers hours dedicated to veterans since 2011.
To learn more and follow along with the Home Depot Foundation as they surprise veterans this holiday season, check out #OperationSurprise on social media.
