Wednesday, June 29, 2011

Numbers to Know

Recently released .....

The value of volunteer time in 2010 is calculated at $21.36 (From NPCC News, June 2011)
Volunteers can be your biggest financial asset. Make sure you are capturing all your volunteer time and letting them and your donors know the value. If professional services are donated, make sure you get an estimate of the value of the services from the donor--the rate for these will be much higher.

IRS Increases Mileage Rate to 55.5 cents per mile If you reimburse employees for mileage following the IRS rates this is an increase that takes effect July 1, 2011. The mileage rate that volunteers can use to calculate a deduction on their tax return remains the same at 14 cents per mile.