Based on the below NonProfit Times article.
The value our volunteers add to our organization.
$19.51 x 20,000 = $390,200 per/hour x 5 hours per week = $1,951,000 x 52 weeks = .
Just taking one fifth of this amount for argument's sake = over $20,000,000
HOO YAH!
The value of a volunteer hour nearly kept pace with inflation during 2007, increasing 3.94 percent while consumer prices tracked at 4.1 percent. The estimate for the value of volunteer hour jumped by 74 cents, from $18.77 in 2006 to $19.51 last year, according to Independent Sector (IS), a Washington, D.C.-based coalition of nonprofits and foundations.
IS calculates the hourly value of volunteer time 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. The federal minimum wage is $5.85 an hour.
"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 IS. "Quantifying the value of their time gives us yet another indicator of how important volunteers are to communities."
The new estimates were released ahead of National Volunteer Week (April 27-May 3) to "acknowledge the millions of individuals who dedicate their time, talents, and energy to making a difference."
Washington, D.C. had the highest hourly value ($30.10) among the 50 states and Puerto Rico and the Virgin Islands. The top states were all found in the Northeast: New York ($26.18), Connecticut ($25.75), Massachusetts ($24.29) and New Jersey ($23.62).
The bottom six states, excluding Puerto Rico ($10.21), all fell below the level of the Virgin Islands ($14.85): West Virginia ($14.70), Arkansas ($14.63), North Dakota ($14.27), Mississippi ($14.08), South Dakota ($13.72) and Montana ($13.51).
In all, 10 states eclipsed the $20 value and all but seven had values of more than $15. Two pairs of states had identical values: Colorado and Virginia ($20.08), and Vermont and Kentucky ($16.07).
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2 comments:
This is excellent stuff - thanks for finding this. Is your 5hrs per wk an estimate? Or do we have this documented somewhere?
At any rate, to your point, if it's only an hour per week on average, that's $20MM.
The key is to find a way to communicate this. I REALLY think we need to get a section on our web site where we compellingly explain all this. And where we explain how our ratios might look if we could include this info.
We gotta get that on the project list.
The 5 hours is an estimate among the 20,000 volunteers. I'd estimate we are between $20mm and $50mm using those hourly numbers. Also in some areas those hourly wages are still higher than the rest of the country.
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