Abstract Problem Formal Volunteers in volunteer based organizations drop out at a fast pace due to many reasons like lack of interest what they are doing, conflict among volunteers, lack of motivation, job dissatisfaction due to prolonged volunteering etc.  which is causing to improper functioning of these organizations and reaches a point where these volunteer based organizations find it difficult to function properly. The author in this study tries to address this particular issue of this drop out of formal volunteers. Purpose The purpose of this study is to explore the factors which helps in the retention of formal volunteers in a volunteer based organization for a longer period. Method The research in this paper is done in a qualitative way with primary data collected in the form of participant observation and open interview in two voluntary organizations. The collected data is analyzed in content analysis. The secondary data is collected in the form of necessary documents provided by the participating organizations. Results Many factors were found to influence retention of volunteers namely Job satisfaction, Motivation, Public Service Motivation, Organizational Commitment, Mission Attachment, Work load, Relationship with Coworkers, Justice of Organization, Flexible Timing, Training & Orientation.  Conclusions Recommendations to improve retention is mentioned and a future model is also proposed. The result obtained from this research can be generalized to other form of small scale volunteer organizations where the major employees are formal volunteers.