Does it?
I thought the tool applied a discount rate, which I assumed (yeah, I know) was for the time value of money.
You can see the discount rate by going to the website, checking the box at the very top, and then looking at the sixth option down in the list that appears.
You can even use your own discount rate if you like.
ETA: The tool indicates that it's the fact that a dollar now can be invested and is therefore worth more. I'm not sure if that's different from the utility to the recipient if received more. Or if those two ideas are both being considered in the discount rate or not. (Discount rates, quite frankly, confuse me. I understand and can do the math, but what discount rate to choose is often confusing.)