Source: The Nonprofit Times
The value of a volunteer hour continues to rise, up to $24.69 in 2017. The figure is a 2.3-percent increase from 2016 and is part of an overall 51.8-percent increase in the value of volunteer hours since 2001, according to data from Independent Sector. The value of volunteer hours has grown every year during that span.
If Americans were to repeat 2015’s volunteerism of 7.8 billion hours, the most recent Corporation for National & Community Service data available, the 2017 value of volunteerism in the U.S. would have exceeded $192 billion.
The figure is based on approximate hourly earnings of all production and nonsupervisory workers in private, non-farm payrolls. The average is further upped by 12 percent to include a buffer for fringe benefits. Matt Perdoni, counsel and director of business development for Independent Sector, said that — while not necessarily a driver of recent value increases — pro-bono services from lawyers, communications specialists, and other professionals have become increasingly common.