William and Harry agree to divide the future proceeds of the Diana Memorial Fund

William And Harry Agree To Divide The Future Proceeds Of The Diana Memorial Fund

The brothers and the Duke of Cambridge have agreed to divide the future proceeds of their mother's memorial fund as part of the separation of voluntary activities.

According to financial documents, an agreement was reached in December last year between the Royal Foundation of the Duke and the Duchess of Cambridge and the now-abandoned Sussex Royal Foundation.

A month before the Duke and Duchess of Sussex announced they were planning to return as senior members of the royal family and become financially independent.

The Royal Foundation's report and consolidated financial statement for the year ended 31 December 2019 stated: "On December 18, 2019, the Sussex entered into an agreement with the Royal Foundation, which would be paid to the Royal Foundation with net proceeds intended to pay half of the Diana Fund to Sussex. Royal.

"In March 2020, the Duke and Duchess of Sussex announced they would no longer operate the Sussex Royal as their primary philanthropic vehicle in the UK and subsequently donated their share of net proceeds to The Duke of Sussex's Second Charity of Choice.

In April 2013, the Royal Foundation charity took legal control of The Diana, Prince of Wales Memorial Fund, to protect future revenues at the end of its actions.

The fund is no longer an active fundraiser, but it is sometimes expected to receive some legacy and donations, with most of its funds going to donations originally chosen by William and Harry.

The Royal Foundation worked with the Sussex and Cambridge names, but in June last year, Harry and Meghan revealed that they had officially split from their joint donations.

It was separated and renamed the Royal Foundation of the Duke and Duchess of Cambridge, but the now useless Sussex Royal Foundation was established.

According to the documents, the Royal Foundation received 21,346 from The Diana in The Princess of Wales Memorial Fund in 2019 - close to 21,583 received in 2018.

Harry is reportedly seeking his share of the money to go to Central, a charity he founded in Lesotho, Botswana, and Malawi to help victims of extreme poverty and HIV / AIDS.

The Royal Foundation's Annual Report Sussex Royal received an unrestricted grant of 5,000 145,000.

Meanwhile, the Sussex Royal, a limited grant of $ 100,000, has been awarded to Harry's permanent tourism program Travelist Development.

The Royal Foundation said it had also agreed to give "a home to heritage projects founded by the Duchess of Duke and Sussex" as part of their decision to "leave the charity".

It includes youth violence empowerment groups and full impact programs in London and Nottingham and funds for the Community Kitchen in West London.

The Endeavor Fund was transferred to the Invictus Games Foundation and the Coach Corps program became the new charity.

Earlier this month, the Duke and Duchess of Sussex were officially announced to be setting up their UK foundation as they come up with their son's named Global Charitable Body.

The couple, who have been living in Los Angeles since working as senior working royals in March, has been organizing a new charity called Archwell for the past month.

The Royal Foundation says it remains the primary philanthropic vehicle for the Duke and Duchess of Cambridge.

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