Estimating the value of volunteer-assisted community-based aging services: a case example

Area of Science:

• Gerontology
• Social Work
• Health Economics

Background:

• Community-based aging services rely heavily on volunteers.
• Quantifying the value of volunteer contributions to elder care is complex.
• Existing economic models may not fully capture social benefits.

Purpose of the Study:

• To estimate the financial and social value of volunteer-assisted aging services.
• To apply a Social Return on Investment (SROI) approach to community-based elder care.
• To analyze the economic impact of the Concierge Club of San Diego.

Main Methods:

• Utilized a Social Return on Investment (SROI) framework.
• Conducted an Expanded Value Added Statement (EVAS) analysis.
• Identified and valued outputs and benefits for multiple stakeholders.

Main Results:

• The total value of outputs significantly surpassed program costs.
• Identified substantial secondary and tertiary benefits for stakeholders.
• Demonstrated positive financial and social returns for the Concierge Club program.

Conclusions:

• Volunteer-assisted aging services generate considerable value for recipients, families, volunteers, and society.
• The SROI and EVAS methods effectively quantify the impact of such programs.
• Further research is recommended to fully understand costs and benefits for vulnerable older adults and their families.