What is the Value of an Hour of Your Time?
Posted on April 13, 2010, by United Way in Uncategorized
National Volunteer Week (April 19-25) starts in just six days! First established in 1974 by then-President Richard Nixon, this event has grown each year and has actually become a month-long celebration. No matter what you do, be it feeding the homeless, driving seniors to their appointments, mentoring children, giving back is a part of sustaining a great community. Well ,besides being a great benefit to the community and the other intangibles, volunteering may also be of monetary value as well.
Over at Independent Sector they have released their state-by-state breakdowns of the "monetary value" of volunteer hours. In California when you give some of your time, the estimated value of that time is $23.29 per hour.They calculate based on the average wage in the area but they aren't trying to reduce volunteerism to a dollar amount or motive.
From their site:
The estimate helps acknowledge the millions of individuals who dedicate their time, talents, and energy to making a difference. Charitable organizations can use this estimate to quantify the enormous value volunteers provide.
According to the Corporation for National and Community Service, about 61.8 million Americans, or 26.4 percent of the adult population, gave 8 billion hours of volunteer service worth $162 billion in 20081 (the 2009 numbers will be released on June 15)
In the Bay Area, our partners at the Volunteer Centers can help you find an opportunity nearby or if you would like to do some skills-based volunteerism, check out Taproot who always excellent opportunities.
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