Some things in life are hard to put a value on — love, passion, dedication, selflessness. These are all attributes volunteers embody, but how can nonprofits determine the value of a volunteer hour?
Each year, Independent Sector gathers data and conducts research on volunteerism in the nonprofit sector. The results of that research provide nonprofits a way to calculate the value of volunteer time. As of April 2024, their estimated national value of each volunteer hour is currently $33.49, a 5.3% increase from 2022. In Florida, that number is slightly lower based on detailed state data, at $31.61. (Here’s how the numbers are calculated.)
Why does knowing the value of volunteer time matter?
Understanding the value of volunteers to nonprofit organizations is important because it helps leaders and organizations make a case for volunteer programs, appropriately budget and understand the financial value of what is often perceived as “free” labor.
"No dollar estimate can fully reflect the value of volunteers to the well-being of our communities and our nation, but organizations use this number to quantify the importance of volunteering.”
Additionally, volunteer work varies widely across organizations and functional areas. Some volunteers provide the lowest skilled work while others require extensive training. Recently, my teenage daughter waved a sign outside a food distribution event. Conversely, my nephew is a doctor and volunteers regularly by providing medical support. Is there a difference in the value of volunteer time if a nonprofit had to pay for it? Certainly. Independent Sector does extensive research to factor in those variations, and their estimated national value is a figure your organization can use with confidence when determining the value of volunteer time.
Volunteer work strengthens nonprofit organizations and our communities. Volunteers change lives, and this volunteer hour calculator will help you show the strong business case for volunteers within your organization.
Get Your Certificate in Volunteer Management
The Certificate in Volunteer Management prepares today’s volunteer managers to more effectively recruit, retain and recognize volunteers. Developed to address the challenges all volunteer managers encounter, the curriculum is designed by Hands On Network, the volunteer-focused arm of Points of Light Institute.
During three sessions, Sara Leonard, MBA, CFRE, will lead you through interactive exercises to gain knowledge and skills to use immediately when you get back to your organization.
- Understanding Volunteering
- Planning Your Volunteer Program
- Recruiting and Placing Volunteers
- Orienting and Training Volunteers
- Supervising Volunteers
- Evaluating Your Volunteer Progra
