Economic Impact
Tools
Calculating the Economic Impact of Volunteers,
Points of Light Foundation
Economic Impact: Calculating the Economic Impact of Volunteers
How does one put an economic value on the time volunteers give to an organization? 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 Economic Impact of Volunteers Calculator created by the Points of Light Foundation makes this possible. It estimates the appropriate wage rate for volunteer time based on what the person does and the value of specific tasks according to market conditions as reported by the US Department of Labor. Organizations can use the Calculator to determine the value of the time their volunteers give doing a wide variety of volunteer jobs. The system automatically calculates the totals for each job category and for the total across all volunteer jobs. http://www.pointsoflight.org/resources/research/calculator.cfm