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No 2009:116:
The economic value of volunteers to nonprofit organizations
Woods Bowman
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Woods Bowman: DePaul University
Abstract: This article applies microeconomic theory to the problem of calculating the economic value of volunteers to nonprofit organizations. It finds weaknesses in two popular valuation metrics: replacement cost and demand price. It argues for a method that measures the economic value of volunteer time by the impact it has on an organization's revenue, through either fundraising or producing goods and services. An Australian case study illustrates the method, and a survey of U.S. nonprofits tests the generality of the assumptions. The concluding section offers suggestions for management practice and further research.
Keywords: Evaluation; volunteers; economic value; cost; nonprofit
Language: English
14 pages, 2009
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