Sound like you are in need of doing a diy project or perhaps to purchase a new lid.
Might help if you can give brand and model of of your 40 gal tank and we'll see if we can find something suitable for that tank.
There seems to be a couple things you could do.
1 - make your own diy lid using perspex or glass, i have made my own lid for a nano tank and is not difficult to do, just a little planning and common sense required.
Here is my thread on a DIY nano tank lid.
http/www.fishforums.net/index.php?/topic/426468-aqua-nano-30-diy-lid/
2 - You can ask a glass cutter to cut shape and size of glass to fit your tank, a little more expensive but might be worth doing.
As others already have mentioned, you may lose some water through evaporation but not a whole lot though, depends how warm/cold it gets where you are based. A lot of people have this occurrence but easily solved by doing daily water top ups.
And dust and particles in air can get to your water surfaces etc
There are pros and cons for both methods, IMHO its just a case of personal preference, I prefer lidded tanks while others prefer open top tanks.