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With limited budget for paid staff members, many nonprofits rely on the power and passion of volunteers to keep things running smoothly.
The soft benefits of volunteer involvement across a nonprofit are widely accepted. Formal documentation of the cost savings delivered through volunteer involvement can help organizations understand, track and maximize volunteer programs. The most recent data from Independent Sector suggests the value of a volunteer hour is $24.69 in 2017.
Built using the approximate hourly earnings of all production and nonsupervisory workers with a 12% buffer for fringe benefits, the hourly average provides a benchmark to articulate the value of volunteers within an organization.
Would you like to better understand the unique value of volunteers, quantify their contributions and keep them engaged with your organization? Learn more here.