Associates Helping Associates
With more than 300,000 associates, the number of people working for The Home Depot is larger than many cities across the country. Managing a community of this size means sharing in successes and hardships, and The Home Depot is dedicated to taking care of each associate like family. Taking care of our associates is one of The Home Depot’s core values, and that’s why The Homer Fund was created in 1999.
The Homer Fund is a non profit charity specifically devoted to assisting associates in need. Named after the company’s mascot, Homer, the Fund is primarily supported by donations from associates at all levels of the company. These donations provide grants to help associates get back on their feet after a natural disaster destroys their home, a spouse looses their job, an illness makes it hard to keep up with rent, or other qualifying situations. Associates in need may qualify for up to $15,000 in grants. Since its inception, more than 45,000 grants totaling over $50 million have been given to associates with qualifying hardships.
Grant Descriptions
The Fund offers associates assistance through two types of grants:
DIRECT GRANT
- Associates can receive up to $10,000 per year for each qualifying hardship
- The kinds of situations in which the Fund may provide a Direct Grant are:
- Illness/Injury
- Death
- Natural Disaster (fires, hurricanes, floods, tornadoes, etc.)
- Involuntary Unemployment
- Uninhabitable or condemned housing
- Unforeseen sale/foreclosure of leased property
- Homelessness
- The types of expenses for which a Direct Grant can be used include:
- Past due rent/mortgage/property taxes
- Past due essential utilities – gas, water and electricity only
- Security deposit for new apartment or rental home
- Deposits to establish essential utilities in new residence
- Temporary shelter if the associate’s home is uninhabitable due to damage from a fire or other natural disaster
- Up to two months at an extended stay hotel (for homeless associates only)
- Food (in cases of natural disaster or fire, or where appropriate)
- Clothing (in cases where an associate has suffered a loss of clothing, such as a natural disaster or fire, or where appropriate)
- Essential funeral expenses (such as services of the funeral director and staff, preparing and transportation for the deceased, burial or cremation containers, opening and closing of the grave, etc.)
- Uninsured home repairs due to natural disaster or fire
- Homeowners insurance deductibles
MATCHING GRANT
- Matching Grants can assist in many situations that may not qualify for a Direct Grant by matching $2 for every $1 collected by associates for another associate in need. The maximum amount awarded for a Matching Grant is $5,000.
- Associates often hold in-store fundraising events, like a bake sale, a barbeque, etc., to raise money for another associate who is in dire financial need due to unavoidable circumstances.
- Matching grants make up 64% of grants issued since 1999.
Scholarships
A college education today can be very expensive. As a continuing show of support for our associates, The Orange Scholars Scholarship Program was created in 2006.
- The Homer Fund offers scholarships to associates' children based on financial need, academic performance, as well as community involvement and leadership. Financial need is given the highest consideration.
- Since 2006, 3,563 students have received scholarships totaling over $7.5 million to help cover the expense of attending college.
- The Homer Fund awards up to 1,000 scholarships annually. The Scholarship awards range from $1,000 to $2,500 each.
- In 2010 alone, The Homer Fund awarded 1,000 scholarships for a total of over $2.4 million.
Financial Education
The Homer Fund partners with CredAbility (formerly known as Consumer Credit Counseling Services) to provide free and valuable money management information to associates.
- Through this partnership, the Fund developed financial workbooks, a dedicated phone line and an interactive website to help associates with financial difficulties.
- Financial education through online classes and quarterly live webinars provide assistance on a range of topics including figuring out how your credit score affects your finances to how to save your home from foreclosure. Budget calculators are also available to help associates determine how long it will take to get out of debt and plan for future costs.
- Debt management is also provided. The Fund will make a contribution of up to $335 to associates who are actively following through with their debt management plan
