Volunteers are worth $280 billion, according to Independent Sector’s 2005 annual report on the value of volunteer contributions to America.
The estimated value of a volunteer hour in 2005 was $18.04. The estimate is based on the average hourly wage of non-management, non-agricultural workers determined by the US Bureau of Labor Statistics.
The estimate gives charities a tool to help quantify the contributions volunteers make. It’s a good idea to track volunteer time and donations of materials and equipment. This helps show potential funders how well your organization leverages cash support and reflects the depth of involvement from the community. Ascribing a dollar value to volunteer contributions can help you communicate the impact of your volunteer organization.
For more, Click here.