From The Philanthropy Journal, April 30, 2010
Volunteer time has become more valuable, and nonprofits are counting on more volunteers, according to a new estimate.
The estimated value of volunteer time grew to $20.85 an hour in 2009 from $20.25 in 2008, says Independent Sector.
It also says over one-third of nonprofits surveyed reported they increased their use of volunteers between November 2008 and March 2009, and nearly half expect to use more volunteers in the coming year.
Nonprofits employ roughly 12.9 million workers, or nearly 10 percent of the American work force, and account for roughly 5 percent of gross domestic product, Independent Sector says.
In 2008, volunteer labor amounted to the equivalent of 6.9 million full-time employees, increasing the charitable workforce by over half.
Roughly 61.8 million Americans, or 26.4 percent of the adult population, gave eight billion hours of volunteer service worth $162 billion in 2008, the most recent year for which data from the Corporation for are available.
