Independent Sector Releases New Value of Volunteer Time of $33.49 Per Hour
23 Abril 2024 - 12:00PM
Independent Sector, with the Do Good Institute, announced today
that the value of a volunteer hour is
$33.49 — a
5.3 percent increase from the previous year.
Estimated from data collected in 2023, the figure illustrates the
valuable and significant contributions volunteers make every day to
support our communities and nation.
Charitable organizations most frequently use the value of
volunteer time to recognize the amount of community support an
organization receives from its volunteers. Corporations also use
the figure to calculate the value of staff volunteer efforts in
communities around the country.
The state and national estimates of the value of volunteer time
are based on the method used by Independent Sector in prior years.
The primary assumption is that the value of volunteer service is
based on the average earnings of private sector workers, excluding
those who work on farms or in managerial occupations.
The latest value, calculated by the University of Maryland’s Do
Good Institute, is measured based on annual average hourly earnings
estimates that are available from the Bureau of Labor Statistics
(BLS). Learn more about the methodology.
The estimates may still understate the full value of volunteer
service because they do not consider the many intangible benefits
provided by volunteers that cannot be easily quantified.
“When you volunteer, you help hold up the foundation of civil
society. Volunteers lend their energy and talents, help their
neighbors, and strengthen their communities. Volunteers nationwide
are making meaningful contributions to many causes to improve lives
and advance the greater good,” said Dr. Akilah
Watkins, Independent Sector president and CEO.
“Volunteering is a critical form of engagement with nonprofits that
strengthens the nonprofit workforce and drives trust in the sector.
No dollar estimate can fully reflect the value of volunteers to the
wellbeing of our communities and our nation, but organizations use
this number to quantify the importance of volunteering.”
“Once again, the estimated value of an hour of volunteer time
has increased, which reflects the invaluable contributions that
volunteers make every day to organizations in the social sector and
to their communities,” said Nathan Dietz, research
director, Do Good Institute and the researcher responsible
for calculating the estimates. “The increase of 5.3 percent is much
larger than the annual inflation rate (3.4 percent in 2023), which
shows how much organizations appreciate the efforts of those who do
this important work.”
In addition to the national number, Independent Sector also
provides the state-level value of volunteer time for all 50 states,
the District of Columbia, and Puerto Rico. Values range from $15.82
per hour for Puerto Rico to $50.88 per hour for the District of
Columbia.
For more on the Value of Volunteer Time, the methodology, and to
explore historical national and state-level data,
visit independentsector.org/resource/value-of-volunteer-time.
###
The Do Good Institute at the University of
Maryland provides education, programs, research, and resources to
develop the next generation of nonprofit leaders, social
innovators, and civic-minded students. Learn more at
dogood.umd.edu.
Independent Sector is the only national
membership organization that brings together a diverse community of
changemakers at nonprofits, foundations, and corporate giving
programs to ensure all people in the United States thrive. Learn
more at independentsector.org.
Nina Ford
Independent Sector
202-467-6113
media@independentsector.org