(WASHINGTON, April 10, 2008) -- Independent Sector announces that the 2007 estimate for the value of a volunteer hour has reached $19.51, which increased from $18.77 per hour in 2006.

"Our nation’s volunteers play a vital role in helping America’s 1.4 million charitable organizations improve lives across the country and around the world,” said Diana Aviv, president and CEO of Independent Sector. "Quantifying the value of their time gives us yet another indicator of how important volunteers are to communities.”

The new value of volunteer time estimate comes out just before National Volunteer Week, which takes place April 27-May 3. National Volunteer Week celebrates America’s proud legacy of volunteer service and the importance that Americans place on strengthening this country by helping others. The value of volunteer time and National Volunteer Week provide the opportunity to acknowledge the millions of individuals who dedicate their time, talents, and energy to making a difference.

IS calculates the hourly value of volunteer time 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.

Learn more about the hourly value of volunteer time.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 550 charities, foundations, and corporate giving 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 and philanthropic community.