The Duke of Cambridge and the Duke of Sussex agreed to divide the future earnings of their mother’s memorial fund between them as part of the separation of the brothers’ charitable activities.
According to financial documents, an agreement was signed in December last year between the Royal Foundation of the Duke and Duchess of Cambridge and the now abandoned Sussex Royal Foundation.
It was agreed a little less than a month before Prince Harry and Meghan announced that they intended to withdraw as members of the royal family and become financially independent.
In April 2013, the Royal Foundation charity took legal control of Diana, Princess of Wales Memorial Fund to safeguard any future income upon completion of its operations.
The fund is no longer actively raising funds, but it is understood that it occasionally receives some legacies and donations, with most of its money originally going to charities chosen by William and Harry.
The Royal Foundation had operated under the names of Sussexes and Cambridges, but in June last year Harry and Meghan revealed that they would formally separate from their joint charity.
It was renamed the Royal Duke and Duchess of Cambridge Foundation, while the Royal Sussex Foundation was established separately, but now disappeared.
The Royal Foundation report and the consolidated financial statements for the year ended December 31, 2019 said: “On December 18, 2019, an agreement was signed with the Royal Sussex Foundation whereby the Royal Foundation had the intention to award half of the future net income received by Diana Fund for Sussex Royal.
“In March 2020, the Duke and Duchess of Sussex announced that they would no longer operate Sussex Royal as their primary philanthropic vehicle in the UK, and consequently their share of the net income will be donated to another charity chosen by the Duke of Sussex. “
According to the document, in 2019 the Royal Foundation received £ 21,346 from The Diana, Princess of Wales Memorial Fund, close to the £ 21,583 received in 2018.
It is understood that Harry applied for his share of the funds to go to Sentebale, a charity he founded to help victims of extreme poverty and HIV / AIDS in Lesotho, Botswana and Malawi.
The Royal Foundation’s annual report revealed that an unrestricted £ 145,000 grant was awarded to Sussex Royal to facilitate its creation.
Meanwhile, a restricted grant of £ 100,000 was also awarded to Sussex Royal for the development of Harry’s sustainable tourism program, Travalyst.
As part of its decision to “leave the charity,” the Royal Foundation said it had also agreed to provide “a home for inherited projects established by the Duke and Duchess of Sussex.”
This includes the Empowering Communities and Full Effect programs, which combat youth violence in London and Nottingham and provide grants for a community kitchen in West London.
The Endeavor Fund was transferred to the Invictus Games Foundation, while the Coach Core program has become a new charity.
Earlier this month, the Duke and Duchess of Sussex were reported to be formally liquidating their foundation in the United Kingdom as they moved forward with their global charity, Archewell.
The couple, who now live in Los Angeles after resigning from senior working royalty in March, have been establishing the new charity in recent months, whose name comes from the Greek word for “source of action” and reflects the name of the couple’s son, Archie.
The Royal Foundation said it remained the primary philanthropic vehicle for the Duke and Duchess of Cambridge.
.
