1. Calculating the Economic Value of Volunteers Cathy Barr February 2007

2. Reasons for NOT Calculating the Economic Value of Volunteers It’s too difficult. It takes too much time. There’s no way to accurately determine the value of so many different volunteer activities. Attaching a dollar value to volunteer contributions devalues them. It may be threatening to paid staff.

3. Reasons FOR Calculating the Economic Value of Volunteers It makes volunteer contributions visible and tangible. It helps you show how your volunteers allow you to do more than your budget would otherwise allow. It helps you demonstrate the value of your volunteer program. It helps you show the extent of community support for your organization.

4. Where You Can Use This Information Funding proposals Reports to funders (governments, corporations, foundations) Fundraising campaigns Financial statements Volunteer recruitment campaigns Project, program or event evaluations Reports to your Board Lobbying efforts

6. Basic Steps 1.Create volunteer position descriptions. 2.Track the number of hours contributed by volunteers in each position. 3.Multiple the number of hours contributed by volunteers in each position by a wage appropriate for that position.

7. Beyond the Basics You can also go “beyond the basics.” To do that, you need other types of information, such as: –The total value of salaries paid to full- and part-time staff. –The total value of benefits provided to staff. –The total amount your organization spends on its volunteer program. –The total value of volunteers’ non-reimbursed expenses.

8. Three Types of Measures 1.Human Resource Productivity Measures  These measures describe how volunteers extend your organization’s personnel resources beyond your existing budget. 2.Volunteer Program Efficiency Measures  These measures help you evaluate and explain the value of your volunteer program. 3.Community Support Measures  These measures help you demonstrate the extent of community support for your organization.

9. Volunteer Value Calculator Free online tool. Includes built-in wage rate information. Performs all calculations for you based on the information you enter. http://www.nonprofitscan.ca/page.asp?vvc_toolkit

11. For More Information & Resources www.nonprofitscan.ca www.imaginecanada.ca www.givingandvolunteering.ca