Funding of many community programs is based on the assumption that support of local groups leads to the formation of social capital and subsequently to an improved quality of life in the community. This paper describes an evaluation of a ‘Community Safety Week’ program which funds 300 community organisations in Victoria. The paper describes the results of a quantitative (survey) and qualitative (focus groups) review of (a) current and past recipients of funding from the program; (b) the value of participating and (c) the contribution of the program to the formation of social capital in each community. The results have implications for the design and development of other community based programs.