Stabilized Whipped Cream

1 envelope unflavored gelatin
3 tablespoons water
3 cups heavy cream
1 1/2 cups confectioners' sugar
1 1/2 teaspoons vanilla extract

In a saucepan, sprinkle gelatin over water. Let stand until softened, 5 minutes. Stir 1/3 cup of cream into gelatin mixture. Heat over low heat until gelatin is really dissolved. Transfer to a large bowl. Stir in remaining cream. Cover and chill for 1 hour.
Beat cream mixture at medium speed until soft peaks form. Beat in confectioners' sugar and vanilla.