The Value of Volunteers
The Independent Sector recently issued its annual report, “The Value of Volunteer Time.” According to their research, the national average value of an hour of volunteer time is $34.79. In Texas it’s $33.59. These estimates for each state are “based on the annual average hourly earnings (non-seasonally adjusted) for all production and non-supervisory workers on private non-farm payrolls.”
Volunteers are the backbone of nonprofit organizations: the person who delivers meals to people with limited access to nutritional food; the docent at the museum, the volunteers at hospitals, libraries, and places of worship. There are also groups of corporate volunteers who plant gardens, paint buildings, build houses and install playgrounds. Globally there are organizations like World Central Kitchen that depend heavily on volunteers who pay their own travel costs to assist on the frontlines of disaster relief.
Some charitable organizations use volunteer time to illustrate the support they have from their community. According to the Financial Accounting Standards Board (FASB), the value of volunteer services can also be included on financial statements only if a volunteer is performing a specialized skill for the organization.
Lastly, the annual dollar value that Independent Sector puts on volunteer hours does not reflect the full value of volunteer service. Volunteering is also beneficial to the volunteer. According to HelpGuide.org (see link below) there are four benefits to volunteering:
- Connection to others
- Good for your mind and body
- Can advance your career
- Can bring fun and fulfillment to your life
All of this is to say your volunteers are valuable and should be treated with gratitude and respect. They don’t have to give your organization their time; there are hundreds of nonprofits in your community that would readily welcome their service.
For more information the Independent Sector and to read the report, click here: https://independentsector.org/research/value-of-volunteer-time/
For more information on the benefits of volunteering for the volunteer, click here:
https://www.helpguide.org/mental-health/wellbeing/volunteering-and-its-surprising-benefits
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