The OAF Blog

The Economic Impact of Volunteers

June 10, 2013

At the end of April, Canadians had the opportunity to recognize and thank the volunteers who support charitable/not for profit organizations. A part of almost every charitable organization are volunteers, those individuals who commit time, energy, their talents ( often also financial contributions ) to supporting the programs and work of a charitable organization. Their support, given without expectation of financial compensation has a significant economic impact.

 

An Economist's Case for Volunteering

A recent publication by TD Economics  provides a commentary on the positive economic impact of volunteer hours. The benefits of volunteering are both tangible in the sense of resources committed on an unpaid basis, and value created in the form of ‘social capital’. This can take the form of productivity from volunteers who return regularly to assist with a NFP program ( they know how to do the work and can offer ideas for improving efficiency ), or helping a person develop skills they can translate into work outside the NFP, or the positive impacts to a community. The bank report illustrates as well, the economic benefits arising from volunteers. In 2010, it is estimated that 13.3 million Canadians volunteered in some capacity. This can be translated as a little over 1 million jobs. If you assume an average hourly wage, the surprising economic contribution from volunteers equates to $50 billion in Canada.

 

Thank You!

For arts organizations, volunteers are an important resource, please remember to thank them for what they do and don’t hesitate to highlight the value they contribute to your organization’s work and arts mission.

 

 

2016

Summer Travels - 2016

September 01, 2016

Taxing Endowment ?

May 25, 2016

2015

Ontario's Culture Strategy

November 25, 2015

Arts and Aging

June 30, 2015

Getting Capital Right

April 02, 2015

Arts Advocacy - 2015

February 23, 2015

2014

Canadian Women in Philanthropy

November 05, 2014

Dialogue on Capitalization

October 08, 2014

2013

Tax Changes to Be Aware Of

August 26, 2013

2012


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