Making strategic and effective grantmaking decisions is not easy. It requires thoughtful analysis. To bring new information and wisdom to philanthropy supporting sustainable agriculture and food system reform, the W.K. Kellogg Foundation (Kellogg) and the funder collaborative Sustainable Agriculture and Food Systems Funders (SAFSF) commissioned Headwaters Group Philanthropic Services (Headwaters) to collect and synthesize funding and trends data. The goal in tracking funding trends is to understand who is giving within the community, to what issues, and at what levels. This comprehensive overview is intended to help funders understand gaps and ways to fill them, opportunities for leveraging resources, and ways to build successful strategic alliances with public and private partners. Headwaters worked in collaboration with Virginia Clarke, SAFSF's coordinator, to create this report. It builds on and compares information created in a 2003 funding analysis undertaken by Headwaters while at the same time creating a new baseline of information and a streamlined process that will allow for easier tracking and more in-depth analysis.