The funds have already helped renovate and enhance over 50,000 homes and facilities for veterans while also helping to provide critical assistance to veterans and their families in need, according to the foundation. It's part of an ongoing commitment to end veteran homelessness – an effort that began in 2011.
For the past 10 years, the foundation has been improving veteran housing through home repairs and building smart homes that are accessible for wounded veterans alongside the nation's leading veteran service organizations.
Together, the organizations are trying "to effect positive change for veterans, many of whom are facing homelessness, housing insecurity or housing that hinders their movement or ability to live independently due to service-connected injuries," said Shannon Gerber, executive director of the Home Depot Foundation.
To date, more than 37,000 veterans are facing homelessness while nearly 3 million live in inadequate housing, according to the foundation, which cited recent estimates by the Housing Assistance Council. Meanwhile, there are more than 4 million veterans that have a service-related disability, according to Home Depot.
Home Depot CEO Craig Menear says the company and the foundation are determined to ensure that every veteran has "access to safe, affordable housing that fits their individual needs."
"We strive to help veterans live independently by conducting critical home repairs, providing mortgage-free smart homes and helping to end veteran homelessness with our nonprofit partners," Menear said.
The foundation hopes to invest upward of $500 million toward veteran-related causes by 2025.
The foundation has received vital support from veteran service organizations such as Habitat for Humanity, Volunteers of America, Operation Homefront, Semper Fi & America's Fund.
"We know there is so much more work to be done, and we are honored to continue serving alongside these incredible organizations," Gerber said.
For instance, Home Depot's associate volunteer force, Team Depot, has volunteered more than 1.25 million hours helping veterans over the past decade.
Veterans Day also marked the return of the Foundation's Operation Surprise campaign, "which aims to provide life-changing moments of surprise and support for veterans and communities in need" through acts of service, according to the foundation.
Their effort will begin with 10 critical home repair projects across the nation.