Home Depot Boosts Commitment to Veterans to $250 Million by 2020

Home Depot Boosts Commitment to Veterans to $250 Million by 2020

The Home Depot Foundation has announced that it is increasing its commitment to veterans-related causes to $250 million through 2020.

Announced in conjunction with the launch of the foundation's sixth annual Celebration of Service campaign, the increased support is aimed at addressing a range of veterans issues, including homelessness, poverty, lack of support networks, and subpar living conditions. According to the foundation, more than thirty-nine thousand veterans are homeless and a million more are considered to be at risk of homelessness; over 3.8 million veterans have a military service-related disability, a 60 percent increase since 1990; and more than 9.4 million veterans are age 65 or older, many of whom need home modifications to age in place safely.

In 2011, the Home Depot Foundation announced a three-year, $30 million pledge in support of veterans' housing, followed by a three-year, $50 million commitment when it surpassed its initial goal in 2012 and a five-year, $80 million initiative in 2013. Since 2011, the foundation has invested more than $160 million to provide housing to veterans and, with the help of employee volunteers, has helped build or repair more than 26,700 homes.

"We consider it a duty and honor to give back to our veterans," said Home Depot Foundation board chair Giles Bowman. "We know they experience many challenges when they return from service and their home shouldn't be one of them. This increased commitment demonstrates our dedication to serving our nation's heroes."