Independent Sector Announces New Estimate for Value of Volunteer Time

(Washington, D.C., March 24, 2005)—Independent Sector announces that the 2004 estimate for the value of a volunteer hour has reached $17.55 per hour. This is a tool that can be used to help organizations quantify the enormous value volunteers provide. This year’s estimate increased from $17.19 per hour in 2003.

Nationally Independent Sector estimates in 2004 the total value of hours volunteered was equivalent to approximately $272 billion of contributed service, assuming the total number of volunteer hours held constant from previous years.

“No number can adequately capture the true value volunteers bring to so many causes and communities across this country,” said Diana Aviv, president and CEO of Independent Sector. “Nevertheless, this yearly estimate helps us all focus on the enormous contribution of our nation's volunteer corps.”

The hourly value of volunteer time is based on the average hourly wage for all non-management, nonagriculture workers as determined by the Bureau of Labor Statistics, with a 12 percent increase to estimate for fringe benefits.

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Independent Sector is a nonprofit, nonpartisan coalition of charities, foundations, and corporate philanthropy programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the nonprofit community.