THE COMMUNITY DEVELOPMENT FUND
Supplement dated December 1, 2020 to the
Statement of Additional Information (“SAI”) dated May 1, 2020
This supplement provides new and additional information beyond that contained in the SAI, and should be read in conjunction with the SAI.
The SAI is hereby amended and supplemented as follows:
In the “Trustees and Officers of the Trust” section, the text relating to Eric Kleinschmidt in the “Trust Officers” table is hereby deleted and replaced with the following:
| Name and Year of Birth | Position with Trust | Principal Occupations in Past 5 Years | Business Address |
| Stephen Connors (Born: 1984) |
Treasurer and Chief Financial Officer (since 2020) |
Director of Fund Accounting, SEI Investments (2014-present). | One Freedom Valley Drive Oaks, Pennsylvania 19456 |
Please retain this supplement for future reference.