The Ainslie 1940 First Grade Team finished in fifth place out on the finals.
The First Grade team that played in the last round was:
- Back: Lynraven, Mason, Edwards
- Half Backs: Lee, Bloomfield, Backhouse
- Centres: White, Evans, Hunetr
- Hal Forwards: Kennedy, C Martin, McCaskill
- Forwards: Heyson, Rennis, Fettes
- Followers: Collins, A Martin Rover: James
Many Intermediate players filled the void in First Grade for players who left for War Service.
Bob Bloomfield won the Mulrooney Medal.
- Coach: Lionel James, replaced due to ill health later in season by Tom Evans.
The Intermediate team finished top in the home and away. The second Semi Final was drawn with Eastlake and Ainslie won the replay.
- Final score: Ainslie 9.10-64 def Eastlake 7.13-55
The Intermediate team progressed to the Grand Final but were defeated by Queanbeyan.
- Final score: Ainslie 9.3-57 def by Queanbeyan 10.12-72
- Goalkickers for Ainslie: Stevens 4, Curtin 2, Cleary 2, Eason 1
- Best: G Robertson, Kruger, Cleary, R Robertson, Stevens, Moore
- Moore (Capt.)
- Curtin, Kruger
- R Jones
- I Jones
- R Robertson
- G Robertson
Curtis Moore and Ian Jones tied for the Intermediate Grade Best & Fairest Award.
Juniors and Sub-Juniors were beaten in their Semi-Finals.
Ian Ray won the Cup for the Best & Fairest in the Junior League.