Charity Finance Director's Group

(a charitable company limited by guarantee)

Annual Report and Financial Statements

Registered Charity No. 1054914
Company Number 3182826

Valuing Volunteers

It is obvious from the preceding sections of our report that the part played by volunteers in achieving our objectives is huge. In keeping with recommended practice we have made an estimate of the number of hours that members and subscribers give to us free of charge during the year. We rely on numerous speakers at our members’ meetings and conferences as well as trainers for our courses such as Introduction to Charity Finance, Investment Training for Trustees and SORP Workshops. CFDG also has many committees covering its policy, education, regional work etc. Without the many volunteers that serve on these committees we would not be able to carry out the wide variety of work that our members have come to rely on. We have not put a value on the many hours work that our volunteers give us but if we were to value them at £55.00 per hour (2005: £50) the total would come to nearly £123,000 (2005: £77,000). Considering that the vast majority of our volunteers are finance professionals this would not be an unreasonable hourly rate.

Page 8 - Annual Report and Financial Statements 2006