Valuation of Goods Provided
For additional information on valuation of donations click here
Calculating Volunteer Service Time
National value of colunteer time: the estimated value of volunteer time for 2015 is $23.56 per hour.
Washington State value for volunteer time is $28.99 per hour. However, for eas of calculation, the national rate should be used.
Source: Independent Sector, April 14, 2016
1. Calculate value based on all general volunteer service hours that were PNWU affiliated/approved (club events, service to professional organizations, extracurricular activities, etc.
2. Calculate specialized value based on the Financial Accounting Standards Board (FASB) regulations for financial reporting: the volunteer is performing a specialied skill* for a nonprofit and the organization would have purchased the services had they not been donated. Use the Bureau of Labor Statistics hourly wage by occupation.
3. Combine the calculated value of general volunteer time and specialized volunteer time.
* The volunteer must be performing the skill for which he/she is trained to use the specialized skill rate. In other words, if a doctor is painting a fence, he/she cannot use the physician rate. He/she would use the national value rate ($23.56).