Every April, Independent Sector publishes an estimated national value of each volunteer hour. This page includes historical national data and the value of volunteers’ contribution by state or territory.
More statistics on volunteers in the US and abroad can be found on Energize, Inc's Statistics on Volunteering page.
Nonprofits typically use the value of volunteer time to demonstrate the support they receive from their communities. Independent Sector advises that if your organization plans to report the value of volunteer services in external financial statements, including grant proposals, you will need to follow generally accepted accounting principles (GAAP), established by the Financial Accounting Standards Board (FASB), which state:
Contributions of services shall be recognized if the services received:
- create or enhance nonfinancial assets; or
- require specialized skills, are provided by individuals possessing those skills, and would typically need to be purchased if not provided by donation. Services requiring specialized skills are provided by accountants, architects, carpenters, doctors, electricians, lawyers, nurses, plumbers, teachers, and other professionals and craftsmen.
Per IRS, nonprofits may not report volunteer time as contributions in line 1 of Parts II or III of Form 990, Schedule A. It may be described in Form 990, Part III, Statement of Program Service Accomplishments.
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