EDUCATION

BAY AREAFI NANqIAL

300 Montgomery Street

Suite 1 130

San Francisco, CA 94104

41 5-839-81 97

www.BAFEEorg

Executive Director

Tina Marchetti

Administrator

Davina Hansen

Board of Directors

PresidenVCEO

Theodore S. Jablonski, Jr., CFP@

Merrill Lynch, Global Private Client

Vice PresidenVSecretary

Robert B. Thompson, CFA

Dodge & Cox

Treasurer

Curt Smith, CFA

Strategic lnvestment Solutions, lnc.

Directors

Lillian L. Conrad-Decker, CFA

Nelson S. Weller, CFA

GFA San Francisco Liaison

Matthew Winter, CFA

Bottom Up lnvestments, LLC

March 5,2010

Bay Area Financial Education Foundation

2009 Annual Report

The Bay Area Financial Education Foundation was authorized as apublic non-profit by the CFA Society of San Francisco. TheFoundation provides CFA Program Review scholarships,University Merit Awards, and it suppods literacy in the areas offinance, investment, and entrepreneurship. Community service isencouraged and oppofiunities to volunteer are available to CFASociety of San Francisco members and posted on the website.

In this, the second full year ofoperation, revenue for the yearadvanced to $35,000,up 43Yo from 2008; our donor base nowapproximates 150.

Four grants were approved: Cal-State University, East Bay Centerfor Economic Education: $2,500 to support the Stock SimulationGame, and $5,000 (equally divided between cash and an in-kindcontribution) to sponsor a California Council on EconomicEducation (CCEE) Teaching Economics Workshop. The WallStreet Journal Classroom Edition received $2000 to providesubscriptions for 20 partrcipating Bay Area high schools, and,

$1,000 was granted to the Network for Teaching Entrepreneurship

G\fFTE) toward its annual business plan competition.

Additionally, the Foundation approved a draft proposal for a CFALevel 1 Review Program Merit Award to a graduating student(undergraduate or graduate) who has demonstrated an interest inthe investment industry. Eligible candidates had a GPA of 3.5 orabove, provided a written recommendation from a professor, andsubmitted an essay on their career interest in investing and howthey pursued that interest. The pilot program was launched at theUniversity.of San Francisco in 2009, and our first Award winnerwas selected in 2010.

FOUNDATION

The SIFMA Foundation's Stock Market Game Program is an online educational activityfor students. Designed by teachers and reviewed for accuracy by industry experts at theSecurities Industry and Financial Markets Association (SIFMA), the Stock Market Gamecurriculum features lesson plans, weekly newsletters, and online research that culminatein an InvestWrite national essay contest. Contest judging was assisted by 16 CFA Societyof San Francisco volunteers.

At the Teaching Economics Workshop, Jim Charkins, Ph.D., Director of the CaliforniaCouncil on Economic Education, introduced the o'Money Wise Teen" an HSBCsponsored Teacher Guide and the Nine Principles of Economics to 35 attending teachersfrom surrounding Bay Area high schools. The "Money Wise Teen" is a free intemetbased program developed by the CCEE which provides learning exercises used tosupplement the core economics.curriculum. Topics include: scarcity and alternatives,credit and margin, benefiVcost analysis, the how and why of prices, and preparing for theworld of work.

The Foundation is supported through the generosity of the CFA Society of San Franciscomembers, member-employer matching contributions, and sponsors. Key to this support isan annual get-acquainted Wine Tasting Event, followed by an annual appeal. This yearthe Foundation event was elevated by the significant support of Ferriere Vineyards.Ferriere, in addition to hosting, offered CFA SF members a valuable discount onpurchases that was matched with a donation to the Foundation. Over 100 membersattended the Autodesk Gallery party and silent auction.

This year's annual appeal focused on the first charitable endeavor initiated by theSociety, the Wall Street Joumal Classroom Edition. A subscription to the WSJ CEincludes: the Classroom Edition monthly, a monthly Teacher Guide, unlimited use ofwsjclassroom.com, a full subscription to the Wall Street Joumal Online, and additionaltools and resources that are available to both teachers and students.

As we conclude our second year, we thank you for your support of our efforts to promoteeconomic education and the investment careers of successful CFA charterholders andcandidates in the Bay Area. We continue to encourage your involvement in ourcommunity service activities, participation in Society and Foundation events, financialcontribution, and support for our sponsors. This Annual Report and the highlight of ourprograms is also your personal invitation to grow along with us.

Sincerely,

Theodore S. Jablonski, Jr.

President