The work in this article has a basis in a long-term research paradigm investigating the "funds of knowledge" of diverse populations. This conceptualization adopts an anthropological perspective for viewing the households of low-income and minority students as repositories of diverse knowledge bases. In the BRIDGE project, the focus has been on understanding the mathematical potential of households, as well as "mathematizing" household practices. The transformation of mathematical knowledge, however, has been somewhat problematic. Our experience until now indicates that, whereas other classroom knowledge domains (language arts, social studies, etc.) may draw in a rather straightforward fashion from households, mathematical knowledge may not be so easily incorporated. This article describes a theoretical refinement of the concept of funds of knowledge, and will endeavor to conceptualize the distributed nature of mathematical community capital.