By 2032, The Home Depot Foundation plans to commit a total of $1 billion to causes that support veterans. According to a press release from the Foundation, the investment builds off 15 years of investment in veteran causes, with $650 million contributing toward the creation of more than 70,000 veteran homes and facilities.

Currently, approximately 33,000 veterans in the U.S. experience homelessness, and more than 2.75 million live in inadequate housing.

“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.”

Through its latest round of investments, the Foundation will also test and scale new approaches for long-term impact. These approaches include funding to support alternative housing solutions, grants toward transitional housing, and collaborations with partners like the National Housing Conference, The Landlords, Organizations, and Veterans Engagement (LOVE) Fund, Open Doors Atlanta, and the U.S.VETS Master Lease Program.

“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," says Darryl Vincent, president and CEO of U.S.VETS.