Most nonprofit organizations operate on lean budgets, making volunteers essential. But what’s one hour of volunteer time worth? The latest research by Independent Sector and the Do Good Institute produced a Value of Volunteer Time report, which estimates that one hour of volunteer time is worth $33.49. That’s a 5.3% increase from the previous year, 2022.

VolunteerMatch, a member of Independent Sector, offers a study that provides additional perspective: Each volunteer contributes an average of 52 hours annually. Multiplying the average annual hours by the estimated value per hour ($33.49) equates to nearly $1,741 per volunteer each year. Of course, specialized volunteers, such as accountants or attorneys, can deliver even greater value.

On the rise again

The COVID-19 pandemic significantly impacted many aspects of life, including volunteerism, as nonprofits paused efforts to recruit in-person help. However, volunteerism is rebounding. According to AmeriCorps and the U.S. Census Bureau’s publication Volunteering and Civic Life in America, charitable engagement has risen sharply. Although just over 60 million Americans volunteered in 2021, that number soared to nearly 76 million in 2023 — the most significant increase in over 20 years.

In 2023, 28.3% of Americans volunteered, contributing close to 5 billion hours through organizations. According to AmeriCorps, the federal agency for national service and volunteerism, this effort carried an economic value of $167.2 billion.

Lowdown on virtual help

The latest research from AmeriCorps includes something new: Virtual volunteering was measured for the first time. During the review period (September 2022 through September 2023), 13.4 million individuals engaged in virtual or hybrid volunteering. These volunteers tend to be a bit older, averaging age 49, as opposed to in-person volunteers, whose average age is 46.

Also, the virtual and hybrid volunteer participation rate among those with disabilities was 20%, compared to 18% for others. This suggests that people with disabilities prefer virtual and hybrid services.

Final takeaways

Whether your team consists entirely of unpaid volunteers or includes just a few dedicated individuals supporting your paid staff, each volunteer is invaluable. And let’s face it — you could likely use even more help. Not all volunteering is formal. Many Americans lend a hand in informal ways — for example, by helping neighbors — a trend that continues to grow.

The bottom line is to know how people prefer to contribute, whether in person, virtually, or through a hybrid approach. This information will help you better tailor your volunteer program to those eager to lend a helping hand.

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