FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Phillips Donald James II 2. Date of Event Requiring Statement (Month/Day/Year) 05/02/2005 3. Issuer Name and Ticker or Trading Symbol Morningstar, Inc. [MORN] (Last) (First) (Middle) C/O MORNINGSTAR, INC., 225 WEST WACKER DRIVE 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Managing Director 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) CHICAGO, IL 60606 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 178,970 D Â

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	  (1)	06/30/2006	Common Stock	2,880	$ 2	D	Â
Stock Option (Right to Buy)	  (1)	06/28/2006	Common Stock	9,258	$ 2	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2007	Common Stock	6,426	$ 2	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2008	Common Stock	3,204	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2008	Common Stock	4,056	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2008	Common Stock	8,112	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2008	Common Stock	6,405	$ 2.77	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2009	Common Stock	4,323	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	06/30/2009	Common Stock	8,754	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2009	Common Stock	3,570	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	12/01/2009	Common Stock	7,140	$ 10.98	D	Â
Stock Option (Right to Buy)	  (1)	05/01/2010	Common Stock	730,000	$ 14.13	D	Â
Stock Option (Right to Buy)	  (1)	02/15/2009	Common Stock	652,310	$ 2.77	D	Â
Stock Option (Right to Buy)	  (2)	02/15/2009	Common Stock	216,864	$ 2.77	D	Â
Stock Option (Right to Buy)	  (3)	05/01/2011	Common Stock	7,500	$ 14.13	D	Â
Stock Option (Right to Buy)	  (3)	05/01/2011	Common Stock	7,500	$ 14.13	D	Â
Stock Option (Right to Buy)	  (4)	05/01/2012	Common Stock	5,000	$ 10.95	D	Â
Stock Option (Right to Buy)	  (5)	05/01/2013	Common Stock	10,000	$ 8.57	D	Â
Stock Option (Right to Buy)	  (6)	12/01/2014	Common Stock	40,000	$ 14.96 (7)	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Phillips Donald James II C/O MORNINGSTAR, INC. 225 WEST WACKER DRIVE CHICAGO, IL 60606	  X	Â	  Managing Director	Â

Signatures

/s/ Peter Olson, by power of attorney		05/02/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Immediately exercisable
(2)	The remaining options vest and become exercisable over a period of six years in equal annual installments beginning on February 15, 2003
(3)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2002
(4)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2003
(5)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2004
(6)	The option vests and becomes exercisable over a period of four years in equal annual installments beginning on the initial vesting date of May 1, 2005
(7)	The exercise price is determined by the daily indexing of the fair market value of the shares on the grant date ($14.70) against the 10-Year U.S. Treasury Bond Rate on November 15, 2004, compounded annually. Therefore the exercise price is subject to change throughout the life of the option. On April, 30, 2005, the exercise price was $14.96.

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