2009 ANNUAL REPORT.doc



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2009 ANNUAL REPORT

OF THE

CFA SOCIETY

OF JACKSONVILLE

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TABLE OF CONTENTS

| |Page |

|Report of the President |1 |

|Board of Directors |2 |

|Past Presidents |3 |

|Report of the Program Chair |4 |

|Report of the Treasurer |5 |

|Report of the Membership Director |6 |

|Report of the Education Director |7 |

|Report of the Job Placement Director |8 |

|Report of the Advocacy/Awareness Director |9 |

REPORT OF THE PRESIDENT

2008-2009

Dear Society Members,

As we wrap up another year, the CFA Society of Jacksonville continues to strive to deliver value to our members by fulfilling our mission of education and ethics. Promotion of “The Charter” through educational luncheons, employer outreach, university connectivity and utilizing all that the CFA Institute has to offer has never been greater.

We are please to announce that the CFA Institute and the six Societies in Florida have embarked on a new relationship to leverage the efforts of all. The Florida Collaborative Initiative has created an advisory board with representatives from each Florida Society, initially funded by the CFA Institute, to enhance the experience of all. Coordinating administrative activities, attracting top-notch speakers and leveraging resources in awareness activities are currently underway.

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Here are the Florida Society Presidents celebrating the establishment of the FCI at the CFA Annual Conference, this year held in Orlando.

Next year we are planning to participate in the CFA Institute’s Global Investment Challenge, providing the opportunity of our local university students to become involved in the “CFA way” early in their careers. If you would like to help with this project, mentors, judges and volunteers will be needed.

Thank you for this opportunity to serve as President of your society this past year. With your continued support and the wonderful contributions of The Board and our employers 2009 – 2010 will be our best year ever.

David A. Furfine, CFA

President

CFA Society of Jacksonville

BOARD OF DIRECTORS

2008-2009

|David A. Furfine, CFA |President |

|Joseph T. Janocko, CFA |Vice President |

|Fred Briggs, CFA |Treasurer & Secretary |

|Jeff Bernardo, CFA |Director- Job Placement |

|Carlos Herrero, CFA |Director- Education |

|Dale Hilken, CFA |Director- Public Awareness |

|Dimitri Kavalieros, CFA |Programs Director |

|June L. Lundy |Director-Career Development |

|Chris Rea, CFA |Director at Large |

PAST PRESIDENTS

| |

|Allen C. Ewing 1963-1964 |

|Anders F. Myhr 1964-1965 |

|Allen C. Ewing 1965-1966 |

|David K. MacCulley 1966-1967 |

|Fontaine LeMaistre 1967-1968 |

|Fontaine LeMaistre 1968-1969 |

|Cyrus M. Norman 1969-1970 |

|Jacqueline R. Lunsford, CFA 1969-1970 |

|Thomas C. Duer 1970-1971 |

|Charles M. Thompson 1971-1972 |

|Jesse H. Webb Jr. 1972-1973 |

|Thomas E. Weaver 1973-1974 |

|J. Blaine Reeve Jr. 1974-1975 |

|Roger E. King, CFA 1975-1976 |

|Roger E. King, CFA 1976-1977 |

|Marvin R. Edwards 1977-1978 |

|Melvin V. Ridgway, CFA 1978-1979 |

|Robert G. Jacobsen, CFA 1979-1980 |

|Richard S. Birch III, CFA 1980-1981 |

|Kathleen R. Manzella, CFA 1981-1982 |

|Marshall F. Howell Jr. 1982-1983 |

|Kenneth D. Menke 1983-1984 |

|Clifford B. Baum 1984-1985 |

|John Jay Burris 1985-1986 |

|Pamela J. Rush, CFA 1986-1987 |

|Marvin R. Edwards 1987-1988 |

|Andrew M. Cantor, CFA 1987-1988 |

|Robert Edward Christopher III, CFA 1988-1989 |

|Andrew M. Cantor, CFA 1989-1990 |

|Eugene A. Kelly, CFA 1992-1993 |

|Susan B. Levine 1993-1994 |

|Louis V. Walsh IV, CFA 1994-1995 |

|Jacqueline R. Lunsford, CFA 1995-1996 |

|Carl E. Waldrep, CFA 1996-1997 |

|Andrew M. Cantor, CFA 1997-1998 |

|Louis V. Walsh IV, CFA 1998-1999 |

|J.R. Melikian, CFA 1999-2000 |

|Timothy D. Cebulko, CFA 2000-2001 |

|David Andrew Furfine, CFA 2001-2002 |

|Daniel Doyce Payne, CFA 2002-2003 |

|Julie Tilson, CFA 2003-2004 |

|Eric P. Zarkovich, CFA 2004-2006 |

|Joseph Janocko, CFA 2006-2008 |

REPORT OF THE PROGRAM CHAIR

2008-2009

CFA Society of Jacksonville completed another successful year for Programs. Along with the various luncheon programs, this year we also hosted a Holiday Mixer, our 3rd Annual Forecast dinner, and planned a CFA Day at the Ballpark Social.

Our Luncheon programs included a wide variety of speakers and topics, addressing many of the current concerns of our members. We used a variety of venues to create an enjoyable forum for our members to expand their knowledge base and meet other members of our financial community.

The 3rd Annual Forecast Dinner included a nationally recognized speaker panel and was widely attended by the membership. As always, the Board wishes to sincerely thank our dedicated sponsors, who purchased tables to help underwrite the event.

We are excited for the 2009-2010 year, and look forward to providing another interesting and relevant program year.

Program Summary

|Date |Speaker |Firm |Topic |

|9/17/2008 |Top of Form |Top of Form |Top of Form |

| |Paul Arendt |Barclays Global Investor |Institutional Exchange Traded Funds |

| |Bottom of Form |Services |(ETFs) |

|10/22/2008 |Top of Form |Top of Form |Top of Form |

| |Dean McQuiddy |Sawgrass Asset Management |Small Cap Stocks  |

|12/2/2008 |Holiday Social | | |

|1/14/2009 |Top of Form |FedEx |Company Presentation |

| |Jeffrey Smith | | |

|2/5/2009 |Forecast Dinner | | |

|3/11/2009 |Domenca Haas |Top of Form |Company Presentation |

| | |Sanofi-Aventis | |

|Top of Form |Top of Form |Top of Form |Top of Form |

|4/2/2009 |Doug Gratz, CFA |Research Affiliates, LLC |Efficient Indexing in an Inefficient |

| | | |World |

|4/28/2009 |Mark Vitner |Wachovia |Economic Forecast |

|5/20/2009 |Top of Form |Top of Form |Top of Form |

| |Tim Gaumer, CFA |StarMine |Applying earnings quality analysis |

|6/30/2009 |CFA Day at the Ballpark | | |

REPORT OF THE TREASURER

2008-2009

|Beginning Cash Balance: | | |$14,937 |

| | | | | | |

| |Fiscal Year 2007-2008 Items | | | |

| | |CFAI Reimbursement: Awareness | |$5,000 | |

| | |Luncheon | |$894 | |

| | |Recognition | |$169 | |

| | | | | | |

| |Fiscal Year 2008-2009 Items | | | |

| | |Annual Membership Dues Received in Prior Fiscal Year | |$2,220 | |

| | | | | | |

|Beginning 2008-2009 Balance: | | |$8,780 |

| | | | | | |

| |Income: | | | | |

| | |Annual Membership Dues | |$9,165 | |

| | |Revenue from Society Meetings and Events | |$5,310 | |

| | |CFA Institute Reimbursements - Service Standards | |$0 | |

| | | | | | |

| | | | | | |

| | |Total Income: | |$14,475 | |

| | | | | | |

|Total Cash Available: | | |$23,255 |

| | | | | | |

| | | | | | |

| |Expenses: | | | |

| | |Society Meetings & Events | |$11,635 | |

| | |Administrative Expense & Misc. | |$1,349 | |

| | |Society Awareness | |$2,717 | |

| | |Society Leadership and Annual Conferences | |$2,230 | |

| | |CFA Candidate Scholarships | |$0 | |

| | |Florida State Annual Registration | |$70 | |

| | |Bank Fees | |$20 | |

| | |Practice Exams - Net | |-$27 | |

| | | | | | |

| | |Total Expense | |$17,994 | |

| | | | | | |

|Forecast Ending Cash Balance: | | |$5,261 |

| | | | | | |

| | | | | | |

|Fiscal Year End Receivables: | | | |

| | | | | | |

| | |CFA Institute Reimbursements - Service Standards | | |$15,644 |

| | | | | | |

|Net 2008/2009 Financial Position: | | |$20,905 |

Fred Briggs, CFA

Treasurer

REPORT OF THE MEMBERSHIP DIRECTOR

2008-2009

The Board is pleased to announce that the following individuals were approved as members of the CFA Society of Jacksonville during the 2008-2009 fiscal year:

Name Type

Brian Atlee Affiliate

John Banko Regular

Alan Hartley Regular

Anthony Marek Regular

Kerry McGovern Affiliate

Jonathan Norfleet Affiliate

Terry Seierstad Regular

Jonathan Wallace Affiliate

Darren Zinn Affiliate

The Society membership is currently at 129 members broken down by the following demographics:

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Jeffrey E. Bernardo, CFA

Director, Membership

REPORT OF THE EDUCATION DIRECTOR

2008-2009

Exam Scholarships

Through the CFA Institute with a supplement from the CFA Society of Jacksonville we administered the CFA examination scholarships, which covered both the registration and examination fees. In addition to communicating the scholarship availability to all local candidates, we contacted several universities in the area. For the June 2009 exam, all 10 available scholarships were awarded to candidates in Jacksonville, Gainesville, and Tallahassee.

Text and Study Material

The CFA Institute makes available to each affiliate chapter a set of study materials for all three examination levels. This year, we donated out set to the Florida Agricultural and Mechanical University, where a few local candidates are currently enrolled.

Practice Exams

The Boston Security Analyst Society, one of the largest local chapters, prepares practice exams that are available for distribution by other local chapters. These are designed to follow the question format, depth and time constraints of the CFA exams and are intended to be taken by candidates under simulated test conditions in a “real time” environment. The practice exams were made available to the CFA Society of Jacksonville, of which a total of 6 exams were purchased by local candidates.

Carlos E. Herrero, CFA

Director-Education Chair

REPORT OF THE JOB PLACEMENT DIRECTOR

2008-2009

REPORT OF THE ADVOCACY/AWARENESS DIRECTOR

2008-2009

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