Dedicated to volunteer work, Kilpatrick and Hart, Ltd., Inc., is a specialized financing firm based in Trenton, New Jersey. The President of Kilpatrick and Hart has volunteered his services to hospitals, churches, and residential communities for over a decade. Here, the firm explains the dollar value of an hour of volunteer work.
Each year the Independent Sector releases an estimated hourly value in dollars for volunteer work. This number is based upon the average income for non-supervisory and production work, and is increased by 12 percent to account for benefits. Assuming all volunteers perform equal tasks, the current dollar value for an hour of time is $21.79.
However, not all volunteer tasks are equivalent. For instance, if a trained professional volunteers time in his or her specific field, such as bookkeeping, this equates to more economic value than someone who volunteers time cleaning or gardening. This becomes clearer when considering replacing volunteers with paid staff, where wages are significantly higher for specialized skills.
Ultimately, although the actual economic worth of donated time can vary from task to task, all volunteers are appreciated and considered valuable to communities and organizations.