Resource: The Independent Sector
A coalition of leading non-profits, foundations, and corporations whose mission is to advance the common good by leading, strengthening, and mobilizing the non-profit initiative, philanthropy, and citizen action.
Recommended usage: To assist with program planning/budgeting so that grant writers can estimate the value of Volunteer Time. This information can be helpful when asked to complete a budget detail and narrative having to show how to calculate the value for those volunteers in your program that are included in the budget.
The Independent Sector announces that the 2004 estimate for the value of a volunteer hour has reached $17.55 per hour. This information can be used to help organizations quantify the enormous value volunteers provide.
The hourly value of volunteer time is based on the average hourly wage for all non-management, non-agriculture workers as determined by the Bureau of Labor Statistics, with a 12 percent increase to estimate for fringe benefits.
Please visit http://www.independentsector.org/ for additional information.