In May 2015 the Clothworkers' Foundation commissioned new research on the current provision of capital grant funding to the voluntary sector, with the particular aim of informing the Foundation's five-yearly strategy review. This report has been compiled to make the detailed findings of the study more widely available. It provides a comprehensive picture of the current scale and scope of capital grant funding by independent charitable foundations, and the perspectives of funders, applicants and grantees on emerging trends and issues.The research was carried out in association with the Centre for Giving and Philanthropy, Cass Business School and the Association of Charitable Foundations, and conducted by Cathy Pharoah, Catherine Walker and Richard Jenkins