Impartial Sector, with the Do Good Institute, introduced that the worth of a volunteer hour is $33.49 — a 5.3 p.c improve from the earlier 12 months. Estimated from knowledge collected in 2023, the determine illustrates the dear and vital contributions volunteers make every single day to assist our communities and nation.
Charitable organizations most continuously use the worth of volunteer time to acknowledge the quantity of neighborhood assist a corporation receives from its volunteers. Firms additionally use the determine to calculate the worth of workers volunteer efforts in communities across the nation.
The state and nationwide estimates of the worth of volunteer time are primarily based on the tactic utilized by Impartial Sector in prior years. The first assumption is that the worth of volunteer service is predicated on the common earnings of personal sector staff, excluding those that work on farms or in managerial occupations.
The most recent worth, calculated by the College of Maryland’s Do Good Institute, is measured primarily based on annual common hourly earnings estimates which are out there from the Bureau of Labor Statistics (BLS).
The estimates should understate the complete worth of volunteer service as a result of they don’t contemplate the numerous intangible advantages supplied by volunteers that can’t be simply quantified.
“If you volunteer, you assist maintain up the inspiration of civil society. Volunteers lend their vitality and abilities, assist their neighbors, and strengthen their communities. Volunteers nationwide are making significant contributions to many causes to enhance lives and advance the larger good,” stated Dr. Akilah Watkins, Impartial Sector president and CEO. “Volunteering is a crucial type of engagement with nonprofits that strengthens the nonprofit workforce and drives belief within the sector. No greenback estimate can totally replicate the worth of volunteers to the wellbeing of our communities and our nation, however organizations use this quantity to quantify the significance of volunteering.”
“As soon as once more, the estimated worth of an hour of volunteer time has elevated, which displays the invaluable contributions that volunteers make every single day to organizations within the social sector and to their communities,” stated Nathan Dietz, analysis director, Do Good Institute and the researcher liable for calculating the estimates. “The rise of 5.3 p.c is way bigger than the annual inflation charge (3.4 p.c in 2023), which exhibits how a lot organizations respect the efforts of those that do that essential work.”
Along with the nationwide quantity, Impartial Sector additionally gives the state-level worth of volunteer time for all 50 states, the District of Columbia, and Puerto Rico. Values vary from $15.82 per hour for Puerto Rico to $50.88 per hour for the District of Columbia.
The previous press launch was supplied by an organization unaffiliated with NonProfit PRO. The views expressed inside don’t instantly replicate the ideas or opinions of the workers of NonProfit PRO.
