Volunteer Time Valued at $193 Billion
The Value of a Volunteer Hour Estimated at $24.14
The value of a volunteer hour was estimated to be $24.14 in 2016, up 2.5 percent from $23.56 the previous year. More than 63 million Americans volunteered about 8 billion hours, which would equate to about $193 billion based on that hourly value,reports The NonProfit Times.
Religious organizations were most popular among volunteers (34 percent), followed by educational or youth service (26 percent), and social or community service organizations (15 percent), according to the Corporation for National and Community Service (CNCS).
The estimate comes from Independent Sector, which bases the average on data collected in 2016, and releases it annually during National Volunteer Week (April 23–29).
Most states saw an increase in the value of volunteer time, with the highest by far found in Washington, D.C., at $39.17 per hour. An interactive map is available on Independent Sector’s website, along with data for each state, indicating where the value is highest and lowest and how much it has risen or fallen since the previous year.