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 2022, their estimated national value of each volunteer hour is currently $29.95, up $1.41 since last year.
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.
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.
“Volunteers in the United States are 63 million strong and hold up the foundation of civil society. They help their neighbors, serve their communities and provide their expertise. No matter what kind of volunteer work they do, they are contributing in invaluable ways.”
— Independent Sector
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.