In Austria, almost 1.25 million people are at risk of poverty. Over 430,000 people live in manifest poverty or face multiple risks of social exclusion. More specifically, this means that families are unable to cover unexpected expenses, to settle their payments on time or to afford keeping their homes adequately warm during winter.
These statistics show once again the relationship between poverty risk and educational level. While a person having completed at best compulsory schooling has a 22% at-risk-of-poverty rate, this rate drops to 10 percent after finishing an apprenticeship or secondary school.
Apart from financial hardship, people living in poverty also suffer from moral hardship: many feel left alone, humiliated and deprived of their dignity and chances. Those who cannot invite their friends to their home or even join them to the movies for lack of money are quickly marginalized. Many people withdraw from social life in a sense of shame at being forced to reveal their situation.
Securing accommodation - Assistance to the homeless
Your endowment contribution supports the needy in Austria
Your personal endowment contribution of EUR 1 million is expected to generate an annual income stream of EUR 40,000 through capital gains or dividend payments allowing, for instance, people to relocate, over the long term. It could support a mother with children to move from a mother and child home to a regular apartment.
Alternatively, the assistance could be given to eight families each year to rent an apartment and provide them with basic furniture. Thereby, the assets contributed will remain intact as far as possible and thus continue to have an impact for an unlimited period.