29 March 2005
Independent Sector, a coalition of non-profit organizations, announced that the 2004 estimate for the value of a volunteer hour has increased to US$17.55 per hour from US$17.19 in 2003.
In the United States, the Independent Sector estimates that in 2004 the total value of hours volunteered was approximately US$272 billion of contributed service, assuming the total number of volunteer hours held constant since 2000. This is a tool that can be used to help organizations quantify the enormous value volunteers provide.
“No number can adequately capture the true value volunteers bring to so many causes and communities across this country,” said Diana Aviv, president and CEO of Independent Sector.
“Nevertheless, this yearly estimate helps us all focus on the enormous contribution of our nation's volunteer corps.”
The hourly value of volunteer time is based on the average hourly wage for all non-management, nonagriculture workers as determined by the US Bureau of Labor Statistics, with a 12 per cent increase to estimate for fringe benefits.
Independent Sector is committed to strengthening nonprofit and philanthropic organizations’ work. It conducts research on the economic, political and social aspects of volunteering and philanthropy, among other areas.
Learn more about the value of volunteer time
From: PNN Online