According to Goldman Sachs, the economic outlook for 2012 is stark, but not bleak. Slow economic growth will continue throughout the year. But the lack of large economic gains affects nonprofits and how they gather and utilize their finances. There are several ways that nonprofits can continue to function and even grow during these slow economic times.

According to Donor Times, one of the best ways to retain funding is to keep your donors. It costs ten times as much to create a new donor as it does to retain a current one.  This season is the perfect time of year to touch base with your donors and let them know that they are vital to your cause. This can be as simple as sending them a holiday thank you card with some sort of premium. These needn’t be expensive. Some premiums that keep your organization visible are key chains, refrigerator magnets or small calendars.

Show your donor’s how their gift has helped. If your company works with a specific population such as children, animals or the homeless, include a simple case study to give your company a human face.   Include a breakdown of the efficient use of your donor’s funds.

While you are looking at your donor list, note the different roles each donor plays. Do some volunteer in addition to donating money? Are there local businesses that give goods or services instead of cash? Make note of these special donors and honor their gift of time or goods accordingly.

Ultimately, giving your current donors and volunteers the respect and honor they deserve will help you retain funding and give them the chance to spread the word about your vital work.