William and Harry agree to split Diana memorial fund future proceeds

The Duke of Cambridge and Duke of Sussex have agreed to divide the future proceeds 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 just under a month before the Duke and Duchess of Sussex announced they intended to step back as senior members of the royal family and become financially independent.

In April 2013, the Royal Foundation charity assumed legal control of The Diana, Princess of Wales Memorial Fund to safeguard any future income upon the ending of its operations.

The fund is no longer actively fundraising, but it is understood to occasionally receive some legacies and donations, with the bulk of its money originally going to charities chosen by William and Harry.

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File photo dated 29/6/1994 of the Princess of Wales arriving at the Serpentine Gallery in London's Hyde Park to attend a gala dinner as its patron. Twenty-five years ago, the Princess of Wales stepped out in her "revenge dress".
Diana and the Queen snapped in good spirits.
TETBURY, UNITED KINGDOM - JULY 18: Princess Diana Resting Her Head In Her Hands Whilst Sitting On The Steps Of Her Home At Highgrove, Gloucestershire. (Photo by Tim Graham Photo Library via Getty Images)

The Princess of Wales rides in the passenger seat of a vintage Mercedes-Benz.

Princess Diana, Prince Harry, Prince William, Prince Charles at William's first day at Eton.
circa 1965: A young Lady Diana Spencer (1961 - 1997), later the wife of Prince Charles.
Prince Charles and his fiancee Lady Diana Spencer with Queen Elizabeth II at Buckingham Palace, 7th March 1981.
Prince Charles  and Lady Diana Spencer on their wedding day.
Prince Charles and Lady Diana Spencer on their wedding day.
Prince Charles, the Prince of Wales kissing his wife, Princess Diana (1961 - 1997), on the balcony of Buckingham Palace after their marriage.
Princess Diana on her wedding day.
(FILE PHOTO) The Prince and Princess of Wales leave St Paul's Cathedral after their wedding, 29th July 1981. She wears a wedding dress by David and Elizabeth Emmanuel and the Spencer family tiara.
A pregnant Princess of Wales joins the royal family on the balcony of Buckingham Palace for the Trooping of the Colour ceremony, June 1982. The Queen, Prince Philip, Princess Alexandra of Kent and Angus Ogilvy are among the group. 
(FILE PHOTO) The Princess of Wales attends a dinner held by President Ghulam Ishaq Khan in Islamabad during her official visit to Pakistan, September 1991.
Princess Diana pictured in a tiara.

Diana looks deep in thought on her wedding day.

Princess Diana smiles for the cameras.
Princess Diana in a stylish evening gown.
Princess Diana and Prince Philip at a polo match in Windsor on July 26th , 1987.
Prince Charles and Princess Diana leave St. Mary’s Hospital in London, with Prince Harry on September 16, 1984.
Princess Diana with her sons William and Harry in 1995.
Princess Diana pictured in a stylish beret.
Princess Diana is snapped in India.
Princess Diana doing charity work.
Princess Diana holding Harry as a baby.
Princess Diana meeting members of the public.
Princess Diana poses in a bikini during a holiday.
Diana beams as she sits with William and Harry.
Princess Diana pictured with young William.
Princess Diana is seen holding hands with her two young sons William and Harry.
Princess Diana with William and Harry.
Diana with her sons in December 1995.
Diana pictured with Charles.

An adorable Prince William and Prince Harry can be seen standing beside their mother, Princess Diana, as a little girl gives flowers to the Queen Mother in 1991.

Prince Charles, Prince of Wales, kissing Princess Diana, Princess of Wales, at a polo match.
Diana gets involved in a parents' day race.

Diana dazzles in a green frock.

Diana and Charles pictured at a glamorous evening event.
Diana and Charles pose for a formal picture.
Charles and Diana boarding a flight.
Charles and Diana as newlyweds.
Diana sporting a casual look.

Diana wears a tartan outfit to match Charles' kilt for a trip to Scotland.

A young Diana shows off sapphire sparkler.
Diana dazzles in white frock and tiara during trip to the Middle East.
Diana pictured with baby Harry.
Diana poses for pictures with members of the public during a walkabout.
Diana and Charles enjoy a family day out.
Diana pictured alongside a stern-faced Queen.
Diana pictured alongside Princess Anne.
TETBURY, UNITED KINGDOM - JULY 18: Princess Diana Resting Her Head In Her Hands Whilst Sitting On The Steps Of Her Home At Highgrove, Gloucestershire. (Photo by Tim Graham Photo Library via Getty Images)
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The Royal Foundation had operated under the names of the Sussexes and Cambridges, but in June last year Harry and Meghan revealed they were to formally split from their joint charity.

It was renamed the Royal Foundation of the Duke and Duchess of Cambridge, while the separate, but now defunct, Sussex Royal Foundation was established.

The Royal Foundation's report and consolidated financial statements for the year ending December 31 2019 said: "On 18 December 2019, an agreement was signed with the Sussex Royal Foundation by which The Royal Foundation intended to grant half of the net future proceeds received by the Diana Fund to Sussex Royal.

"In March 2020 The Duke and Duchess of Sussex announced that they would no longer be operating Sussex Royal as their primary philanthropic vehicle in the UK and accordingly their share of the net income will instead be donated to another charity of The Duke of Sussex's choosing."

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 Harry has asked for his share of the funds to go to Sentebale, a charity he founded to help the victims of extreme poverty and HIV/Aids in Lesotho, Botswana and Malawi.

The Royal Foundation annual report revealed that an unrestricted grant of £145,000 was awarded to Sussex Royal to facilitate its set-up.

Meanwhile, a restricted grant of £100,000 was also awarded to Sussex Royal for the development of Harry's sustainable tourism programme Travalyst.

As part of their decision to "leave the charity", The Royal Foundation said it had also agreed to provide "a home for legacy projects set up by the Duke and Duchess of Sussex".

This includes the Empowering Communities and Full Effect programmes, which combat youth violence in London and Nottingham and provide grant funding to a community kitchen in West London.

The Endeavour Fund was transferred to the Invictus Games Foundation, while the Coach Core programme has become a new charity.

Earlier this month, it was reported that the Duke and Duchess of Sussex were formally winding up their UK foundation as they press ahead with their global charitable body named after their son Archie.

The couple, who are now living in Los Angeles after quitting as senior working royals in March, have been establishing the new charitable organisation, Archewell, over the past months.

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

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