Volunteers are valuable, right? We all know that but volunteers and the organizations they work for don’t often think of their value in dollars. However, a new study by Independent Sector in Washington is doing just that. In an economy where the bottom line means more now than ever, this study may hold the key to garnering volunteers and interns the long awaited recognition they deserve.
The Independent Sector study finds that the average value of a volunteer hour was $20.25 in 2008. This is an astounding 39% increase in 10 years. In 1998, the average value was only $14.56 per hour.
The study further breaks the statistics down by state and territory. The District of Columbia claims the most monetarily valuable volunteers with a worth of $31.55 per hour. In comparison, the biggest bargain for non-profit organizations can be found in Puerto Rico where the volunteer hour is valued at $10.56.
Congratulations to all our volunteers on your "pay raise!" Even in today's economy, volunteering still proves to be the best bang for your buck!
Details of this study can be found at http://www.independentsector.org/programs/research/volunteer_time.html.
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