This study investigated the return on investment (ROI) of the Southern extension Leadership Development (SELD) Program as implemented at the University of Georgia. The SELD program builds around the skills individuals and groups in cooperative extension work need to be effective in the future. The centerpiece of SELD is the Managerial Assessment of Proficiency (MAP), the assessment portion of which is a video-driven, competency-based, computer-scored simulation of 200 items that assesses the participants proficiency in 12 competencies. Two basic calculations are required to compute ROI: the benefit/cost ratio and the second ROI. Calculating ROI is not easily done, but with the access to personnel records possible in this evaluation, the analysis was made somewhat easier. Data were available for 185 Cooperative Extension Agents. Findings suggest that for every $1 invested, $3.86 in benefits were returned, and for each $1 invested in the program, there is a return of $2.86 in net benefits. Good record keeping makes the calculation of ROI much easier. (SLD)