Rocket Community Fund Releases 2021 Impact Report

The mission of the Rocket Community Fund^SM aims to simplify complex and inequitable systems to ensure every American has access to stable, healthy housing. We know that strong communities start at home, and with that vision in mind, the Rocket Community Fund has made a commitment to the communities they serve through strategic investments in education, job training, volunteering and giving.

The Rocket Community Fund recently released the 2021 Annual Impact Report and we are excited to share the results of our efforts.

We can all agree that building something great with others is an incredible feeling. Our team members are passionate about their communities, and it shows in the results of the Annual Impact Report. To understand the magnitude of the work being done, the Rocket Community Fund releases a yearly impact report to shine a light on the incredible work being done where we live, work and play.

Below are a few notable highlights from the 2021 Impact Report:

• $200 million dedicated to community organizations and programming.
• Team members volunteered 866,219 hours of time to their preferred nonprofit.
• 4,299 Veterans experiencing homelessness were housed nationwide.
• 38% reduction in veteran homelessness in Detroit since 2017.
• 5,027 individuals experiencing chronic homelessness were housed nationwide.
• 17,500 residents with property tax issues were assisted by property tax exemption partners.
• 166,658 residents connected to digital resources.
• 2,107 entrepreneurs served or impacted.

In early 2021, the Gilbert Family Foundation and the Rocket Community Fund joined forces and announced a 10-year, $500 million philanthropic investment in Detroit. The investment will be made through strategic contribution to community organizations focused on building economic opportunities in Detroit neighborhoods through housing, employment, volunteering and giving.

To better understand the housing needs of Detroiters, the Rocket Community Fund helped develop the Neighbor to Neighbor canvassing campaign. Canvassers spent weeks talking to residents to better understand their needs and formulating a plan of action to help a community in crisis.

The information collected from residents helped drive a 94% reduction of occupied homes entering the Wayne County Tax Auction through the Make It Home program and other resources. The Make It Home program is a collaboration between the United Community Housing Coalition, the City of Detroit and the Rocket Community Fund that provides renters and other nondeedholders the ability to purchase tax foreclosed properties they live in before they enter the county tax auction. More than 1,100 current occupants in Detroit were able to purchase their home thanks to Make It Home.  

Research also revealed a critical need for more home repair resources for disabled homeowners and senior citizens. To address this, the Rocket Community Fund  expanded its investment in housing repair grants and zero interest loan programs to provide a means for home repairs. Through a partnership with the City of Detroit, the Renew Detroit program was established. This $30 million home repair program helps low-income senior citizens and homeowners with disabilities to receive major home repairs they would otherwise be unable to afford.

Rocket Companies® is committed to measurably and equitably ending homelessness and is the lead partner for Built For Zero. Built for Zero is a movement made up of nearly 100 cities and counties across the country that are using data-driven, collaborative methodology to improve their homeless response systems and drive homelessness to functional zero. The integrations of these programs and others reflect the data-driven approach to philanthropic investments that bring real results.

Since 2017 over $5 million has been given to small businesses through Rocket Mortgage Detroit Demo Day. The annual pitch competition awards over $1 million of funding to 15 companies through grants and interest-free loans. The competition showcases local Detroit-based small businesses and helps them scale their operations with prizes, resources and community support.

One of the goals of the Rocket Community Fund is to help make Detroit a destination for small businesses and high-growth startups. In 2021 the Rocket Community Fund partnered with SER Metro-Detroit, a community-based organization that supports thousands of at-risk residents across the city with quality employment, education and training programs. The $150,000 grant supported educational advancement and upward economic mobility for 160 Detroiters through the SER Construction Talent Hub.

The SER Construction Talent Hub provides a three-tiered approach, targeting academic, occupational and hands-on construction training. The goal of the partnership is to expand the next generation of talent to meet the industry’s growing demand for skilled workers.

From supporting local businesses with streetscape improvements, hosting farmers markets and other unique programs, Rocket Companies has made an incredible impact in the communities we are in.

Working along side the City of Detroit’s General Services Department, the Rocket Community Fund provided the funding necessary to complete repairs at Detroit’s beloved Clark Park. Clark Park is home to baseball camps, practices and games for residents of all ages. The baseball diamonds were in dire need of repair and the Rocket Community Fund made the renovation possible before the season even began.

Rocket Companies understands how important safe, inclusive public spaces are to strengthening the social and economic resiliency of a community. A prime example of our commitment to vibrant and engaging public spaces is the Monroe Street Midway, built on the site of the future Monroe Blocks real estate development.

The Monroe Street Midway provides a diverse array of activities for Detroiters. The Rocket Mortgage Sports Zone and Roll Out Detroit gives Detroiters and visitors a place to roller skate in the middle of Motown or shoot a few baskets with friends. Original murals and art from Detroit artists Phil Simpson, Sheefy McFly and Olivia Guterson are on display providing the perfect back drop for work and fun in the city of Detroit.

Rocket Companies believes in providing team members with opportunities and resources to make an impact in their community that works best for them. Some team members are able to invest more time and sweat equity into a project, while others have limited time to spare.

The Dollars for Doers reward program gives team members the chance to receive grants for volunteering a certain number of hours per calendar year. Those grants are then donated to eligible nonprofit organizations of their choice. In 2021, team members nominated a record breaking 380 nonprofit organizations to participate and raised over $1.3 million for nonprofits across the nation.

In early November 2021, the Rocket Community Fund hosted the annual Holiday Giving campaign. This company-wide fundraiser focuses on supporting food banks in our home cities of Detroit, Cleveland, Charlotte and Phoenix. The money raised addressed food insecurity in communities across the country and in a little under 3 weeks our team members raised more than $141,500 for holiday meals for communities in need.

In addition to fundraising and donations, team members volunteered their time in a big way. Rocket Companies team members volunteered 866,219 hours nationally to nonprofits in desperate need of volunteers in 2021. These additional initiatives help our team members connect with their community and make an impact that truly matters.

They say many hands make light work. It can also make it fun and meaningful. The Rocket Community Fund was faced with a lot of challenges in 2021 but that didn’t stop team members from finding a better way to serve. With the help of our team members, we can achieve our vision of creating a prosperous future for the cities where we live, work and play.