INDEPENDENT SECTOR developed a methodology for calculating the value of volunteer time on an hourly basis going back
to 1980. The estimated dollar value of volunteer time is $20.25 per hour for 2008, according to its estimate.
-- http://www.independentsector.org/programs/research/volunteer_time.html
The methodology was developed by Murray Weitzman using wage data. The following summary of that study was found on
INDEPENDENT SECTOR's web site (FAQ's under "Facts and Figures"), 12/98:
What is the dollar value of volunteer time?
The dollar value of volunteer time is $13.24 for 1996. This dollar value is calculated by taking the average hourly
wage for nonagricultural workers in 1996 as published in the Economic Report of the President (1997 Edition) and
increasing it by 12 percent to estimate fringe benefits.
The average hourly wage for nonagricultural workers in 1987, 1989, 1991, 1993 and 1995 as published in the Economic
Report of the President (1996 Edition) increased by 12 percent to estimate fringe benefits.
Assigned wages are as follows: $10.06 (1987), $10.82 (1989), $11.58 (1991), $12.13 (1993), $12.84 (1995), $13.24
(1996) and $13. 73 (1997).
KEYWORDS: VOLUNTEERING, LABOR, EMPLOYMENT