The value of volunteer time in Virginia went up in 2023 to $33.38 from $32.59 in 2022, according to Independent Sector in Value of Volunteer Time. IS works with the Do Good Institute at the University of Maryland to prepare the annual analysis.
IS explains the value of the value:
Putting a dollar value on volunteer hours will never do justice to their true worth, 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.