USA Today recently did one of the “SNAPSHOTS” on the value of volunteer time using data from the Corporation for National and Community Service and the Independent Sector. The generic hourly value of volunteer time is now $20.25. This is a useful figure to use to calculate the approximate value of the time your company’s employees contributed to the nonprofits where they volunteered. However, if your employees are providing specialized services, to calculate the value you should use whatever figure you would use if you were charging the nonprofit as a paying client.
The CNCS study reported that nearly 62 million Americans do volunteer work providing approximately 8 billion hours of volunteer time annually values at $162 billion dollars. For the full report, click here.
Especially in tough economic times, think of the added value the time you and your employees provide in the community over and above any dollars or in kind donations you make. It all makes a difference!!