- October 22, 2018
- Posted by: The Partners
- Category: Philanthropy Counts
Published August 7, 2013
What is the Value of Volunteering
I was trying to find out the dollar value of volunteer time. The latest figure I found is from 2011.
At that time, it was estimated that if you had to pay your volunteer, it would cost you $21.79 per hour. This was an increase over the year before.
It’s been climbing every year. I suspect that for 2013, you can figure $23 an hour. That’s the value in dollars of volunteer time.
There’s no reason why it has to be precise for what I’m going to suggest.
Figuring the value of volunteer time provides one way to measure the impact that millions of men and women make with each hour they donate to an organization. In every possible way, these volunteers are of invaluable significance to the organization. Not only in dollars . . . but in heart and commitment.
Here’s what I would like you to think about.
The first thing your readers look at in the Annual Report is the list of names of people who give. (I’m right about that, aren’t I? It’s the first page you look at also!)
Here’s what I suggest. You should also list in a separate category the names of your volunteers and the dollar value of the time they give.
In some institutions (mostly hospitals), they keep accurate track of the number of volunteer hours. If you don’t, estimate the number of hours. If you’re not certain, check with your volunteer. (Give them credit for any number they give you.)
Then, in your Annual Report, list the dollar value of their volunteering. (Number of hours multiplied by $23 an hour.)
This provides a magnificent way of saying thank you to those men and women who add so much to the organization (and save you so much money).