Giving Compass’ Take:
• Independent Sector reveals a recent estimate of the monetary value of volunteering, which illustrates the growing level of selfless contributors across the country.
• How does the value of volunteering surpass any monetary estimate? Why is volunteering so critical in supporting those experiencing adverse effects from COVID-19? What can you do to help those in your community today?
Today, Independent Sector, with the Do Good Institute, announces that the latest value of a volunteer hour is $27.20 – up 7% from the previous year. Estimated from data collected in 2019, the figure shows the valuable contributions volunteers make to support our communities and country.
According to the most recent figures released in 2018 by the Corporation for National and Community Service, about 77.4 million people in the United States volunteered about 6.9 billion hours of their time, talent, and effort to improve and strengthen their communities. With the new Value of Volunteer Time, these community champions are contributing approximately $187.7 billion to our nation.
“We know intuitively and through the Value of Volunteer Time that volunteers’ selfless work is a valuable asset that enables nonprofits to extend even further critical services they provide in communities nationwide,” said Independent Sector president and CEO Dan Cardinali. “But during this extraordinary time of challenge caused by COVID-19, when many organizations are struggling economically to maintain mission-critical operations, the contributions of volunteers are more important than ever, and often a critical linchpin that enables nonprofit organizations to continue to provide needed services to help communities endure and survive the pandemic.”
“Volunteering not only helps nonprofit organizations better support the people and communities they serve around the country, but also promotes civic participation, helping to strengthen the ties that bind communities together,” said Robert T. Grimm, Jr., director of the Do Good Institute. “Our nation is full of people whose time and talents make a positive difference in the lives of so many individuals, and the data just proves even further what a valuable asset volunteers are in building stronger and more equitable communities.”
Read the full article about the value of volunteering at Independent Sector.
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