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The value of a volunteer hour is $34.79—a 3.9% increase from the previous year, the University of Maryland’s Do Good Institute and the nonprofit membership organization Independent Sector announced on Wednesday. The report illustrates the significant contributions volunteers make to support our communities and nation.
Charitable organizations most frequently use the value of volunteer time to recognize the amount of community support an organization receives from its volunteers. Corporations also use the figure to calculate the value of staff volunteer efforts in communities around the country.
Nathan Dietz, research director at the Do Good Institute, noted that the 3.9% increase from 2023 to 2024 is greater than the overall annual inflation rate of 2.9%, “which shows that the contributions of volunteers are more valuable today than ever before.”
The state and national estimates of the value of volunteer time are based on the method used in previous years by Independent Sector, which brings together changemakers at nonprofits, foundations and corporate giving programs. The primary assumption is that the value of volunteer service is based on the average earnings of private-sector workers, excluding those who work on farms or in managerial occupations.
The latest value, calculated by the Do Good Institute, is measured based on annual average hourly earnings estimates from the Bureau of Labor Statistics.
The estimates may still understate the full value of volunteer service because they do not consider the many intangible benefits provided by volunteers that cannot be easily quantified.
In addition to the national number, Independent Sector also provides the state-level value of volunteer time for all 50 states, the District of Columbia and Puerto Rico. Values range from $17.32 per hour for Puerto Rico to $52.06 for the District of Columbia. In Maryland, it’s $35.53 per hour.
This article was adapted from a news release by Independent Sector.
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