The hourly value of volunteer time rose to $20.85 in 2009, up from $20.25 a year earlier, according to Independent Sector.
The release of this important figure comes just before National Volunteer Week, which takes place April 18 - 24, 2010. This year Independent Sector and Points of Light Institute are partnering to celebrate ordinary people doing extraordinary things to improve communities across the nation.
"America's heritage of giving back is unique and distinctive," said Diana Aviv, President and CEO of Independent Sector. "Whether we help a single individual or ignite change that benefits millions, people in this country have come together through voluntary organizations for over 230 years. Children who grow up learning to give back not only strengthen their communities but enrich their own lives in countless ways. We celebrate that spirit of selfless service."
The valuation of volunteer time provides one way to measure the impact millions of individuals make with each hour they dedicate to make a difference. More than a third of nonprofit organizations surveyed reported increasing their use of volunteers between September 2008 and March 2009 and almost half expect to use more volunteers in the coming year.
Nonprofits employ approximately 12.9 million workers - almost 10 percent of the American work force - and account for about 5 percent of GDP. In 2008, volunteer labor produced an estimated 6.8 million full-time equivalent employees, increasing total charitable impact by more than 50 percent. About 61.8 million Americans, or 26.4 percent of the adult population gave 8 billion hours of volunteer service worth $162 billion in 2008; estimates for 2009 will be released this summer.
Every other year, IS also calculates a value for each volunteer hour state by state and that information has just been updated as well. To access the numbers for every state and learn more about the hourly value of volunteer time, visit www.independentsector.org/volunteer_time.