We all know that the value of Volunteers in our communities are priceless, as the clubs, commissions, organizations, and individuals give their time without a thought for the betterment of everyone involved.
Since we live in a scientific society and everything needs to be measured, the University of Maryland's Do Good Institute calculates that for New Jersey, the new rate is $29.49 an hour. Which is over double the minimum wage.
Volunteers contribute $187.7 billion to the United States through their time, talent, and effort in 2019.
This $29.49 is higher than the new national rate which is $27.20. Use the updated New Jersey specific rate to calculate volunteer in-kind contributions. Putting numbers to volunteer hours is just one way to show the contributions individuals and organizations have made in our communities.
The recent update to the Value of Volunteer Time was done in partnership this year with the University of Maryland's Do Good Institute and recent graduate of the School of Public Policy, Michael Sousane, who revisited the methodology used in prior years and updated the assumptions behind the method.
Huge Taxpayer Savings:
If you take the Borough of Hopatcong as an example, where we estimate that we have over 400 volunteers that donate at least 10 hours a year on average to help fill the gaps in town, we find an cost avoidance of $119,960 for the Borough.
Learn more about the methodology behind the new Value of Volunteer Time here:
Volunteers in the United States are 63 million strong and hold up the foundation of civil society. They help their neighbors, serve their communities, and provide their expertise. No matter what kind of volunteer work they do, they are contributing in invaluable ways.
Volunteer Rates by State:
Why Do We Calculate a Value of Volunteer Time?
We know putting numbers to volunteer hours will never do them justice, but it is just one way for us to show the contributions individuals and organizations have made in our communities. The estimate helps acknowledge the millions of individuals who dedicate their time, talents, and energy to making a difference. Charitable organizations frequently use this estimate to quantify the enormous value volunteers provide.
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