Independent Sector Announces New Calculation for
the Value of Volunteer Time

(Washington, D.C., March 6, 2006) – Independent Sector announces that the estimated value of a volunteer hour in 2005 is $18.04. This number, up from 2004's estimate of $17.55, gives charitable organizations a tool to help quantify the immense contributions volunteers make.

Independent Sector estimates the total value of hours volunteered nationally in 2005 was equivalent to approximately $280 billion, assuming the total number of volunteer hours has remained constant from previous years.

“It is a challenge to place a dollar value on the important work volunteers do for millions of charitable organizations and communities across the country,” said Diana Aviv, president and CEO of Independent Sector.  “But this number can help put into perspective the enormous contributions provided by our nation's volunteers.”

The hourly value of volunteer time is based on the average hourly wage of all non-management, non-agricultural workers as determined by the Bureau of Labor Statistics, with a 12 percent increase to estimate for fringe benefits.

To learn more about Independent Sector's estimated value of a volunteer hour, visit: http://www.independentsector.org/programs/research/volunteer_time.html.

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Independent Sector is a nonprofit, nonpartisan coalition of approximately 600 charities, foundations, and corporate philanthropy programs, collectively representing tens of thousands of charitable groups in every state across the nation. Its mission is to advance the common good by leading, strengthening, and mobilizing the nonprofit community.