"This study examines the significance of volunteering in the Three Kings Collection (TKC), one of the largest charity events in the Czech Republic. TKC involves volunteers dressed as the three kings who sing carols and raise money door-to-door. We quantify the value of volunteering from 2015 to 2022 and explore perspectives from Caritas and the Roman Catholic Church. While TKC generates substantial financial revenue, its value extends beyond monetary aspects. Church and Caritas representatives highlight volunteer caroling’s role in reducing loneliness, its spiritual significance, and its impact on educating future generations. Our findings indicate that economic methods provide valuable data but fail to capture the full scope of volunteering’s benefits. Misinterpretations of economic estimates can bias the views of donors, policymakers, and the public, potentially discouraging future volunteers. This study enhances understanding of volunteer value and provides insights into interpreting economic assessments from an organizational perspective." (Abstract)