Calculating the Economic Impact of Volunteers
How does one put an economic value on the time volunteers give to an organization? The Economic Impact Of Volunteers Calculator created by Points of Light makes this possible. Organizations can use the Calculator to determine the value of the time their volunteers give doing a wide variety of volunteer jobs.
To use the calculator, enter the number of volunteer service hours and pro bono service hours given by one or more volunteers.
Economic Impact of Volunteer Calculator
Total Economic Impact: $
How Impact Is Calculated
Traditionally, volunteer time has been estimated using a single dollar value for all types of volunteering. The Value of Volunteer Time, which is updated annually, is made available by Independent Sector. The current Independent Sector rate is $23.56 per hour (2015).
Use of a single value assumes that all volunteers are doing jobs that are of equal value. However, it can easily be shown that this is not true when considering the potential cost of replacing a volunteer with paid staff. A volunteer performing a professional task such as accounting is worth more in the market place than that same volunteer doing gardening.
The value of pro bono time is calculated using the standard for the average per hour value of pro bono service, which is provided by the Committee Encouraging Corporate Philanthropy’s (CECP) Valuation Guide. Learn more about the CECP’s Pro Bono Valuation Guide.