A N N U A L R E V I E W 1 9 9 7 / 9 8

In 1999, the Fund will distribute at least

£7 million, about a quarter of it overseas

By the end of 1998 the Fund had

committed over £15 million to charity

Over 100 organisations have benefited so far

Our new offices allow us to offer meeting

rooms and facilities to other charities

The Fund is a resolute and

influential champion of

people in need and distress

The Fund exists to carry forward the values of my sister’s work. Everything we do at the Fund is driven

by a passionate determination to continue to helpvulnerable people feel valued and special,

not forgotten.

In real terms, this means we have already allocated over £15.5 million

in grants to more than a hundred organisations dedicated to bringing

support and hope to people stricken by disability, illness, violence

or injustice.

Fittingly, all those charities with which Diana was formally associated have

received grants. I have been touched to hear how much receiving the support

and recognition of the Fund has meant to the trustees, staff and, most

importantly, the beneficiaries of those organisations.

One of the distinct characteristics of my sister’s work was her readiness to reach out to people

whose needs had previously been unrecognised or neglected. We all remember the dramatic

impact of images of her touching people with AIDS or leprosy. As the Fund’s work develops, it too

will concentrate on helping those causes that would otherwise find it difficult to gain recognition

and support.

Diana was pragmatic about helping charities raise the money they need in order to change

people’s lives. I am pleased that the Fund has brought so much new money into the charity sector

and can make it available to under-funded causes for many years to come. I want to thank all

those who have raised nearly £100 million for the Fund or who have given us their advice, time

and services. It has been an amazing display of generosity and a wonderful tribute to Diana.

I would also like to express thanks to my fellow Trustees and all the staff who have worked so hard

for the Fund, particularly in the chaotic and difficult circumstances of the first few months.

It is indeed a comfort to know that the Fund will continue to touch the lives of people in this

country and around the world, championing the values for which Diana stood in her public work.

Lady Sarah McCorquodale

The Trustees of the Fund would like to thank the following individuals,companies and organisations for their generous help and support:

• ActionAid: Darren Instrall • Allied Zurich • Althorp Estate • Ashby Media • Tim Ashton

1

From the Fund’s President

Cop

yrig

htof

the Fu

nd

On that first Sunday morning, people began arriving at Kensington Palace with flowers and with

envelopes containing notes and cheques.

The flowers found their own home as a second, protective wall around what

had once been the Princess’s. Finding the right home for the money was a

more difficult task.

By Monday morning, the decision had been made. A charity would be set up

in the Princess’s memory. On 4th September 1997, The Diana, Princess of

Wales Memorial Fund received charitable status. The Founder Trustees - Lady

Sarah McCorquodale, Michael Gibbins and I - then set about making the idea of

a living memorial to the Princess a reality.

Small sums of money from the public rapidly built up. Then, within days, the Fund

received the donation from Sir Elton John and Polygram, an act of

spectacular generosity, which assured the Fund’s future.

The Fund has been, from the start, a most unusual charity. Most charities have

time to organise themselves before going out to raise money. With the Fund,

the money started to arrive before a charity even existed. It continued to flow

while we were finding premises, recruiting staff, and appointing new Trustees.

These were exacting times. That the Fund established itself so quickly is

testament to the tireless work of individuals too numerous to name.

By January we had six new Trustees. In the following month, we reached an

agreement with the Estate of Diana, Princess of Wales confirming the

exclusive use of the Princess’s name in order to benefit charitable causes. By

March, we announced our first round of grants, over £15.5 million to more

than 100 charities. In April we were, for the first time, all housed in one place.

Shortly thereafter, we were joined by Andrew Purkis, our Chief Executive,

whose sound leadership has taken the Fund forward.

The pace has been relentless, but the Fund has arrived in good health and is here to stay. I am

proud to have chaired the Fund for the first 18 months of its life, and am happy to have handed

over the chairmanship to Christopher Spence, a Trustee who has already made an inestimable

contribution to the Fund’s development.

Anthony JuliusChair (September 1997 - March 1999)

The Birth of the Fund

…from the trustees• Asprey & Garrard • David Bailey • Maggie Baxter • BBC Worldwide • Beldan UK

2

Copyright of theFund

“I come here because it

gives us a place to talk

about our problems. If I

didn’t come here I’d be

drinking on the streets.”

14 year old girl at the British

Red Cross drop-in project in

Heswell, Merseyside, which

is supported by the Fund.

• The Broadcast Monitoring Company • Cambridge Associates

• Camelot Foundation: Martin Jones, John Ramsay • Canberra • Canon UK • David Carrington • Alexander Carter-Silk • Catering Connections

Setting Our Course

All the systems are now in place to enable the Fund toconcentrate on its overriding concern: helping some of

the world’s most disadvantaged people change their lives.

When I took up my post in June 1998, magnificent groundwork had already been done by my

predecessors Acting Chief Executive, Maggie Baxter and Acting General Manager, Brian

Hutchinson, to both of whom the Fund owes a debt of gratitude.

Later that month, the Trustees made clear in their Mission Statement that the Fund would

continue its work indefinitely, concentrating support on four key areas: displaced people, people

at the margins of society, survivors of conflict (military and domestic) and care of the bereaved

and dying. We then, after a thorough consultation process, invited applications for major new

rounds of UK and overseas grants in 1999, on top of the £15.5 million already committed in 1998.

It has become a hallmark of the Fund that it consults

widely in developing all its policies for supporting

charitable causes.

In October, the Fund moved into

splendid new offices at County

Hall donated generously by the

Shirayama Shokusan Company

and fitted out by a team led by

Whitbread plc. This enables us

to offer the use of meeting

rooms and facilities to other

voluntary organisations.

We completed the process of putting

all the Fund’s professional services out to

competitive tender and long-term investment managers

were appointed.

As we strive to put the Fund’s name and resources to the

best possible use, we are determined to make a

difference to the lives of some of the most vulnerable

people in this country and overseas.

Andrew PurkisChief Executive

• The Lord Bell of Belgravia • Bell Pottinger Communications • Bilston & Battersea Enamels • BOND: Richard Bennett • BPI • Richard Branson

3

Copyright of theFund

A home-care patient with Royal Marsden

Occupational Therapist, Jill Cooper.The Royal Marsden

NHS Trust has received £1 million from the Fund.

(Photo courtesy of The Royal Marsden)

The Fund has alreadymade a strong impact

in the area of grant-giving.It has committed over £15.5 million in a one-

off round of grants and it has

undergone an extensive

consultation process

to settle on its long

term grant-giving

objectives. It has

set grant-giving

criteria for both

UK and

International

grant-giving in

1999 and total

grants in 1999 will

top £7 million.

In March 1998, the Fund

announced its first

distribution of grants in a

round dedicated to

providing immediate

assistance to the charitable

causes supported by

Diana, Princess of Wales

in her lifetime.

The organisations that benefited from this

initial round of grants varied from large

charities with which the Princess was famously

associated to smaller less high profile

organisations. The Princess was President or

Patron of the majority of these organisations.

A number of special grants were made to

organisations with which the Princess had less

formal connections.

Major Grants

The six organisations of which Diana, Princess

of Wales was Patron or President at the time of

her death each received up to £1 million

based on project proposals they submitted:

Centrepoint £1million

English National Ballet £990,000

Great Ormond Street £523,993Children’s Hospital (with more to follow)

The Leprosy Mission £889,600

National Aids Trust £998,500

The Royal Marsden NHS Trust £1 million

Special grants were awarded in recognition

of the Princess’s close involvement with the

following causes:

Osteopathic Centre for Children £1 million

Leonard Cheshire: Park House £1 million

Elton John Aids Foundation £1.1 million

The donation to the Elton John Aids Foundation

was awarded in recognition of Sir Elton John’s

most generous contribution to the Fund through

“Candle in the Wind”.

• Chandelier Cleaning Services • Charities Aid Foundation • Charity Commission • Chubb Fire

• Comic Relief: Kevin Cahill, Richard Graham, Gilly Green, Annie Topple • The Communication Group

4

Supporting Charities

“The grant will make a major

difference to the way we are able

to ensure that homeless young

people are both safe and have the

support they need to shape their

own future.”

Stuart Linnett, Centrepoint.

Centrepoint worker advising a client

at its Berwick Street offices.

Centrepoint has received a grant of

£1 million for its work with young

homeless people.

(Photo courtesy of Neville Elder)

• Costa Coffee • DBC International • Deedlock • Nick Deeming • Patrick Demarchelier • DFID • Dudley Stationery

Further Grants

The other charities with which the Princess had

previously been closely associated were invited

to submit proposals to the Fund for projects

benefiting vulnerable young people, children,

socially excluded people and survivors.The

Trustees were impressed by the quality and

creativity of many of the applications and grants

of up to £60,000 were awarded to the following

82 organisations:

Arts and Education

The Albany £50,000

The American Friends of CoventGarden and the Royal Ballet Inc. £19,000

The Benesh Institute £30,000

BOC Covent Garden Festival £60,000

British Youth Opera £50,000

Chester Summer Music Festival £28,615

City Ballet of London £40,000

Friends of the Imperial War Museum £25,000

Honourable Society of theMiddle Temple £50,000

The Natural History Museum £60,000

Newport InternationalCompetition for Young Pianists £50,000

The Royal Academy ofDramatic Art £60,000

Royal Academy of Music £50,000

Royal Anthropological Instituteof Great Britain and Ireland £59,446

Scottish Chamber Orchestra £50,026

The Serpentine Gallery £41,770

Swansea Festival of Musicand the Arts £31,800

Welsh National Opera £58,090

World Piano Competition £60,000

Children/YoungPeople/Families

Barnardos UK £50,000

British Red Cross £58,240

British Red Cross Youth £47,984

Chester Childbirth Appeal £60,000

Chicken Shed Theatre Company £55,174

Child Accident Prevention Trust £52,431

ChildLine £52,000

Eureka - The Museum for Children £30,000

Gloucestershire County Cricket Club £53,000

The Guinness Trust £60,000

Home-Start UK £50,000

Foundation for Conductive Education £57,538

National Children’s Orchestra £60,000

NIPPA - The Early Years Organisation, Northern Ireland £60,000

• Churchill Insurance Consultants • City Security Holdings • Shelley-Anne Claircourt • Emma Crewe • Martin Collins

5

…Rebuilding Lives

Parent and Child Instrument-making Class at the Scottish Chamber

Orchestra’s Craigmillar Project, supported by a £50,026 grant from the Fund.

Pre-school Learning Alliance £48,750

Refuge £58,736

Relate National £57,950

Scottish Pre-School Playgroups Association £60,000

Wales Pre-school Playgroups Association £60,000

Health

Anglo-European College of Chiropractic £49,584

ASPIRE (Association for Spinal Injury, Research,Rehabilitation and Reintegration) £60,000

British Deaf Association £60,000

The British Lung Foundation £53,382

DEBRA (Dystrophic Epidermolysis Bullosa Research Association) £60,000

Disability Sport England £55,548

The Douglas Bader Foundation £60,000

Faculty of Dental Surgery, Royal College of Surgeons of England £60,000

Freshfield Service £58,600

Headway - National Head Injuries Association £54,942

Huntington’s Disease Association £57,335

Institute for the Study of Drug Dependence £60,000

International Spinal Research Trust £40,949

Leukaemia Research Appeal for Wales £55,200

• Edinburgh Weavers Textiles • Elcom Technical Services • EMI 100: Connie van der Does

• Foreign and Commonwealth Office • Forward Signs • Gaskell • The Gallery Partnership

6

Supporting Charities …Rebuilding Lives continued

“The support of The Diana, Princess of

Wales Memorial Fund will enable us to

extend the emotional support and practical

help to patients and families struggling to

come terms with meningitis in a way that

has never been possible before.”

Jason Blackburn, National Meningitis Trust

Competitor at Disability Sport England’s National Junior Athletics

Championship, Birmingham, supported by a £55,548 grant from the Fund.

(Photo courtesy of Disability Sport of England)

• Gilbert Esse • Hacel Lighting • Halcyon Days (London) • Hasbro • H M Tresury • The Home Office • Hugh Mackay Carpets

London Lighthouse £60,000

National Hospital for Neurology and Neurosurgery £40,000

National Meningitis Trust £37,900

Parkinson’s Disease Society £20,000

Pied Piper Appeal £39,500

Sargent Cancer Care for Children £58,000

Seeability £57,800

Trust for Sick Children in Wales £60,000

Turning Point £60,000

The Tushinskaya Children’s Hospital Trust £60,000

Ty Hafen, The Children’s Hospice in Wales £60,000

WellBeing £55,000

Homelessness

Help the Aged £52,571

The Passage £60,000

St Matthew Society £60,000

Overseas

Australian Council on Smoking and Health £57,970

Australian Junior Red Cross £50,716

Barnardos Australia £50,420

Barnardos New Zealand £51,948

Bloorview MacMillan Centre (Canada) £46,300

Canadian Red Cross Youth £60,000

Chipangali Wildlife Trust (Zimbabwe) £46,127

Commonwealth Society for the Deaf £60,000

Lyford Cay Foundation (Bermuda) £60,000

Malcom Sargent Cancer Fund for Children in Australia £30,000

Princess of Wales Children’s Health Camp (New Zealand) £16,326

Royal Australasian College of Dental Surgeons £25,000

Royal New Zealand College of Obstetricians and Gynaecologists £56,000

Royal New Zealand Foundation for the Blind £58,026

Variety Club of New Zealand £30,000

• EMI Records • EMKA Productions: Chris Thomas • Mary-Ellen Field • Fidelity Institutional Cash Fund • Flora London Marathon

7

Baby

receiving

treatment at

the Osteopathic

Centre for Children which received £1 million towards its

new premises. (Photo courtesy of Janine Wiedel)

Children at the Natural History Museum’s

education programme. The Natural History

Museum has received a grant of £60,000 to

implement a Special Needs Programme for

children and adults with learning difficulties and

those for whom English is a second language.

(Photo courtesy of The Natural History Museum)

Landmine Grants

During the last year of her life the Princess

expressed her passionate concern about the

effects of landmines through high profile trips

to Angola and Bosnia. In recognition of the

Princess’s interest in this area, over £1 million

was awarded to twelve organisations to fund

projects that address the problems of people

and communities affected by landmines. An

extra grant was awarded to the UK Working

Group on Landmines, the UK arm of the

International Campaign to ban Landmines.

Action on Disability and Development £125,000

Concern Worldwide £120,000

Disability Awareness in Action/Pan African Federation of Disabled People £20,000

The Jaipur Limb Campaign £123,000

Leonard Cheshire International/Landmine Survivors Network £113,000

Motivation £39,600

POWER £120,000

Save the Children Fund £110,000

Tim’s Fund/Christian Aid £70,000

UK Working Group on Landmines £60,000

Voluntary Service Overseas £12,000

War on Want £52,000

World Vision £90,625

• Brian Hutchinson • Ibex Interiors • Insafe • ITN • David Jagger • Sir Elton John • Andrea Jones

• Theresa Lloyd • Lochcarron of Scotland • London Boroughs Grants: Daniel Silverstone, Melissa Young

8

Supporting Charities …Rebuilding Lives continued

“Many of our relatives have

been killed by landmines or lost

limbs. We never know who the

next victim will be. With the

support of ADD, I find out who

has been recently disabled and

refer them for help to the

Kassala Society of the Disabled.”

Physically disabled woman

working with Action on Disability

and Development in Sudan. ADD

has received a £125,000 grant from

the Fund.

Rachel Morton a Voluntary Services Overseas physiotherapist working

with a landmine survivor in Sri Lanka. The Fund has given VSO a grant of

£12,000 to support Rachel’s work, training local technicians and a

physiotherapist. (Photo courtesy of VSO)

• Longbrook Electrical Installation • LVSC: Christine Holloway • Marriott Hotel, County Hall • MDA Group UK • Paul Mellor

Future Grants

For 1999, consideration is being given to

grant applications that deal with children

and young people in England, Northern

Ireland, Scotland and Wales who have

suffered personal loss because:

• Their parent/prime carer has died

• They are a young carer who has lost the

person for whom they cared

• They are refugee children alone

• They have lost a family member as a result

of extreme violence

• They are in local authority care

• Their parent/prime carer is in prison

Internationally in 1999, support will be given

to organisations that assist people whose

social exclusion, poverty or displacement is

due to violence. The Trustees are particularly

interested in:

• Work on the lost childhood that many

children and young people suffer as a

result of violence

• Creating safe, viable communities post

conflict, including addressing the issue

of landmines

• Sustaining and supporting family structures

post-conflict, including those families that

lose a generation through conflict.

The Fund’s total grant-giving in 1999 will

exceed £7 million.

In addition, the Trustees are committed to a

wider policy of strategic support for charitable

causes. This means that they are prepared to

be active and flexible in supporting

campaigns, issues and themes outside the

main grants’ programmes through the

association of the Fund’s name or by providing

resources and the facilities in County Hall. In

this way the Trustees hope to be able to make

full use of the Fund’s high profile to help the

kind of causes to which Diana, Princess of

Wales was dedicated.

• Kidde Thorn Fire Prevention • Lawrence Graham • Professor Diana Leat • Legal & General • Leith’s • Littlewoods Lotteries

9

A telephone counsellor at ChildLine, which has received a grant

of £52,000 to keep one of its 24hr confidential telephone lines

open for a year. (Photo courtesy of Larry Bray for ChildLine)

Young girl reading literature giving advice on issues affecting young people at

the British Red Cross drop-in centre in Heswell, Merseyside. The project is funded

by a £58,240 grant from the Fund. (Photo courtesy of the British Red Cross)

The Fund is dedicated to bringing new money into the

charity sector, money that would otherwise not be

available to help disadvantaged people.

Several million pounds were donated by

individuals and organisations in the weeks

following the Princess’s death.

Subsequently, over £1million was raised from

fundraising events initiated by outside

organisations and individuals. These events ranged

from celebrity-studded concerts and balls to

sponsored walks and cake

sales. They were spontaneous

demonstrations of affection

and admiration for the

Princess, involving numerous

individuals many of whom had

never experienced charity

fundraising before, and to

whom the Trustees are deeply

grateful. The Fund does not

want to attract funds away

from other charitable

organisations so will not initiate

fundraising events itself.

The Fund has received most of

its income from the sale of

products which bring a

donation or royalty to the Fund.

A unique example was the

single “Candle in the Wind”

which thanks to the generosity

of Sir Elton John and Polygram

brought in a staggering

£33 million donation from worldwide sales and publishing income.

There have been other notable successes. A compilation album,“Diana, Princess of Wales - A Tribute”

made with the kind support of many people in the music industry, has raised £14.9 million.

New Money for Charity

• Metropolitan Estate Management Services • Professor Mark Mildred • Mishcon de Reya

• NCVO: Pauline Doyle, Stuart Etherington, Tracey Kiernan

10

“Coming to the Swings and

Roundabout Community Centre’s

Mother and Baby group gets me out

of the house and gives me the

opportunity to get advice and

support from other mums. It also

gives our children the chance to mix.”

Mother at the Swings and Roundabout

Community Centre, West Yorkshire, recently

refurbished by a £50,000 grant from the

Fund to Barnardos, UK.

Children involved with the Serpentine

Gallery’s education programme for

disadvantaged adults and children.

The programme is run by an educational

worker and supported by a £41,770

grant from the Fund.

(Photo courtesy of Chris Ofili)

A nurse and outpatient at

the Leprosy Mission’s

hospital in Vicicanagram,

India. The Fund is

financing the

establishment of a

Health Education Centre

near New Dehli through

a grant of £889,600.

(Photo courtesy of

The Leprosy Mission)

• National Lotteries Charities Board: Andrew Cooper, Mike Day, Timothy Hornsby, IT Department, Gerald Oppenheim, Chris Penney

The Royal Mail’s beautiful sets of stamps

commemorating the life of the Princess were

extremely popular and brought in £8.9 million. And

by December 1998, the Fund had received £5.8

million from the sale of the “Princess” Beanie Baby

made by Ty Inc., with millions more in the pipeline

for 1999. Other officially endorsed products are

also bringing much needed money into the

charity sector through the Fund.

For products to be officially endorsed, they have to

be approved by both the Trustees of the Fund, and

the Estate of Diana, Princess of Wales. Whilst all

proposed products are assessed very carefully, the Trustees

believe that it is right that a limited range of carefully selected

products should bring in income to support the work of the Fund.

Once a product has been fully approved, it is licensed to carry the Fund’s logo

and the Hallmark of the Estate. Thus,

each product’s official approval is clear

and indicates to the buyer that a

proportion of money from the product

they buy will help continue the

charitable work of the Princess.

Sadly, some companies have developed

insensitive products exploiting the

memory of the Princess without seeking the

approval of the Fund or the Princess’s Estate. Under

the terms of its Licence Agreement with the Estate,

the Fund is obliged to curb the unauthorised and

inappropriate exploitation of the Princess’s memory.

The Fund has joined with the Estate in litigation to

stop the US Franklin Mint Corporation from the

unauthorised sale of items exploiting the Princess’s

name and image. The Trustees are committed both

to curbing the worst abuses of the Princess’s

memory and ensuring that a portion of profits from

the trade in products associated with the Princess is

brought into the charity sector.

• Mitel Telecom • Chris Moon • John Morrison • Muraspec • Andrew Murray/SYGMA • Professor Vivienne Nathanson

11

“Your support is

wonderful news for the

additional young

dancers we will now be

able to reach and will,

we hope, be fitting

tribute to the Princess

who had such a passion

for dance herself.”

Lara Jukes, American Friends

of Covent Garden and the

Royal Ballet. The Fund is

supporting its “Chance to

Dance” programme.

Visitors to Leonard Cheshire’s

Park House, a country house

hotel for disabled people and

birthplace of Diana, Princess of

Wales. Leonard Cheshire has

received a grant of £1 million

for Park House.

(Photo courtesy of Leonard Cheshire)

The Fund aims to be transparent and open about all

aspects of its work, including its income and expenditure.

The summary figures in the following pages show that the total income of the Fund had reached

over £93.8 million by the end of 1998. By that date, the Fund had already actually awarded over

£13.7 million in grants and had committed a further £2 million in grants not yet paid. After

deducting other costs, over £75 million of uncommitted funds was left: the basis for a vigorous

programme of grant-giving and other support

for charitable causes for many years to come.

The initial costs of setting up the Fund were

heavy. In the absence of permanent staff, an

enormous amount of work had to be done

quickly by paid advisers - albeit at a substantial

discount. A substantial investment was made in

the legal and financial framework of the Fund.

For example, the legal costs of the Fund in its

first 16 months came to some £397,000, mostly

incurred in the early months. The operating

expenses of the Fund’s trading companies over

the same period amounted to £2.4 million,

about half of which was for litigation and other

legal costs, compared with the companies’ gross

profit of £32.3 million. This brought a huge net

inflow of resources into the Fund for the support

of charitable causes. Income resulting from this

investment will continue for years and, if the

Fund is successful in its litigation in the USA, will

be greatly augmented by the receipt of damages.

The summarised financial statements shown on the following two pages are extracted from the full, 32-page, financial

statements which have received an unqualified report from the auditors PricewaterhouseCoopers. These summarised financial

statements may not contain sufficient information to allow a full understanding of the financial affairs of the Fund. For further

information the full statements and the auditors’ report thereon and the Trustees’ Report should be consulted. Copies are

available from the Chief Executive at the Fund’s offices. The separate Accounts of our two active trading companies will be sent

if specifically requested. Copies of the Trustees’ Report and full financial statements, which were approved by the Trustees on

4th May 1999, have been submitted to the Charity Commission.

The Finances of the Fund

• National Westminster Bank plc (Charing Cross Corporate Business Centre) • NCVCCO: Andrew Haines

• Partnership Forum: Ted Unsworth and other members • Pel Project Management • Pinnacle Records

12

“The Princess was involved

with Refuge both publicly and

privately through her informal

visits to the refuges. It is an

honour for us to receive a grant

in her memory. It will go a long

way in supporting the

thousands of women and

children victims of domestic

violence who come through

Refuge’s doors every year.”

Sandra Horley, Refuge.

• Polygram (now Universal) • PricewaterhouseCoopers (formerly Coopers & Lybrand) • Quadrigan UK

Statement of financial activities for the period from 4 September 1997 to 31 December 1998

General Designated TotalFunds Funds Funds

£ £ £

Income and expenditure

Incoming Resources

Donations and gifts 59,450,504 - 59,450,504

Investment income 3,196,013 - 3,196,013

Interest receivable 434,610 - 434,610

Net income of trading subsidiaries 30,754,335 - 30,754,335

Total incoming resources 93,835,462 - 93,835,462

Resources expended

Direct charitable expenditure 13,922,563 - 13,922,563

Fundraising and publicity 815,849 - 815,849

Intellectual property rights 927,621 - 927,621

Set up expenditure 121,980 - 121,980

Management and administration of the Fund 759,535 - 759,535

Total resources expended 16,547,548 - 16,547,548

Net incoming resources before transfers 77,287,914 - 77,287,914

Transfers to Designated Funds (2,000,000) 2,000,000 -

Net movement in funds 75,287,914 2,000,000 77,287,914

Balance at 4 September 1997 - - -

Balance at 31 December 1998 75,287,914 2,000,000 77,287,914

• Office Projects • Belinda Olins • OneWorld Communications • Oscar Faber • Vivienne Parry

13

Balance Sheetat 31 December 1998

£Fixed assets

Tangible assets 587,632Investments 56,846,013

57,433,645

Current assets

Debtors 4,329,844Cash at bank and in hand 19,267,330

23,597,174

Creditors: amounts falling due within one year (3,590,649)

Net current assets 20,006,525

Total assets less current liabilities 77,440,170

Creditors: amounts falling due after more than one year (152,256)

Net assets 77,287,914

Funds

Unrestricted Funds- General Funds 75,287,914- Designated Funds 2,000,000

77,287,914

The summarised financial statements were approved by the Trustees on 4th May 1999 and weresigned on their behalf by:

Christopher Spence Anthony JuliusTrustee Trustee

Auditors’ statement to the Trustees of The Diana, Princess ofWales Memorial Fund -We have examined the summarised financialstatements set out on pages 13 & 14.

Respective responsibilities of the Trustees and auditors - You areresponsible as Trustees for the preparation of the summary financialstatements. We have agreed to report to you our opinion on thesummarised statements’ consistency with the full financial statements,on which we reported to you on 4th May 1999.

Basis of opinion - We have carried out the procedures necessary toascertain whether the summarised financial statements are consistentwith the full financial statements from which they have beenprepared.

Opinion - In our opinion the summarised financial statements areconsistent with the full financial statements for the period to 31December 1998.

PricewaterhouseCoopers • 4th May 1999 • Chartered Accountants and Registered Auditors • 1 Embankment Place, London WC2N 6NN

• Heather Rabbatts, CE for the London Borough of Lambeth • RHWL Architects • Rivermeade Signs

• Siemens Information Systems • Slatkin & Co • The Rt. Hon. The Earl of Snowdon

14

• Sony Music Entertainment UK: Caroline Beckett, Paul Burger, David Malone, Brian Yates • Sound and Vision • The Rt. Hon. The Earl Spencer

TrusteesJenny BrindleThe Rt. Hon. The Earl CairnsJohn EversleyMichael Gibbins LVO (Hon.Treasurer, to March 1999)

Andrew Hind (Hon.Treasurer)

Anthony Julius (Chair, to March 1999)

Lady Sarah McCorquodale (President)

Vivienne Parry (to June 1998)

Baroness Pitkeathley OBEJohn ReizensteinChristopher Spence MBE (Chair)

Nalini Varma

Staff Past and Present(including secondees)Jacqueline AllenMaggie BaxterRob BrittonJoanna BuckleyPaul BurrellCandi CareyAmanda ClowDebra CookSarah Cooper Gavin Coopey Vanessa CorringhamOlivia DixJoanna GreenstedJane HarrisBrian HutchinsonLeila KamaliMarleen LaurmanLucy McCredie Clare MillsPaulette MerrimanAndrew Purkis Catherine Rampton Colin SimonRoma StephensJulie Taylor

In addition, the Trustees are extremely grateful

to the temporary staff who have worked for

the Fund.

• Roger Preston & Partners • The Royal Mail • Dr Wendy Savage • Savita Kapur • Secom • Selectaglaze • Shirayama Shokusan Company

15

“On behalf of all of us at

Lighthouse, I would like to thank

the Trustees for this grant which

will be of tremendous benefit to

the many children, young people

and families who depend on

London Lighthouse to help them

cope with the trauma of living

with HIV in the family.”

Susie Parsons, London Lighthouse.

Recipient of a Scholarship for training students suffering financial

hardship or injury in dance notation. The Benesh Institute received

£30,000 from the Fund. (Photo courtesy of Pete Jones)

The Fund aims at the highest standards of good practiceand cost effectiveness in our work, consulting widely in

developing our priorities and policies, and disseminatinglessons learned from the work we fund.

We welcome extensive public interest in the Fund. We are committed to being

open, transparent and equitable in our decision-making, holding ourselves fully

accountable for all we do.

Throughout the period

covered by this Review, the

Board of Trustees has been

chaired by Anthony Julius,

who played a central role in

setting up the Fund

immediately after the death of

Diana, Princess of Wales.

I pay the warmest tribute to Anthony’s vision,

focus and diligence in leading the Fund through

exceedingly difficult early days, often at great

detriment to his professional and academic

interests. The Board is delighted that Anthony’s

exceptional gifts remain available to the Fund

through his continuing involvement as a Trustee.

By the end of 1999 the Fund’s total income is set

to top £100 million and we intend to have

distributed over £22 million in grants. With

national and international grant-giving policies

now in place, we aim to settle into a pattern of

disbursing at least £4-5 million in grants every

year, about a quarter of it overseas. Also we hope

that success in developing commercial

partnerships will in turn mean more disposable

income for grants.

But we want the Fund to do more than distribute

money. We also want to use the Fund’s high profile

to support responsible campaigning by other

• Stuart Crystal • Colin Tebbutt MVO • Technology College’s Trust • Teffont • Mario Testino

• Virgin Group: Jackie McQuillan • Virgin Records • Warner Music • Waterman Partnership

16

The Work Continues…

Costume-making for the Chester Summer Music Festival. The

Festival has been given £28,615 to fund its Education Outreach

Programme. (Photo courtesy of Clint Hughes)

Copyright of theFund

• Whitbread: Ian Anderson, Stuart Guest • Whittards of Chelsea • The Wren Press • Zomba Records and many, many more…

charities to promote public awareness of issues relating to our current themes and to collaborate

with others engaged in such work. In this spirit, we will continue to make our offices and meeting

rooms at County Hall available to other charities, particularly on

occasions when a venue close to Westminster and Whitehall can

make a difference.

We are very conscious of our responsibility to shape the Fund in a

way which faithfully reflects the spirit of Diana, Princess of Wales

and of her public work. To succeed, the Fund must remain a

resolute and influential champion of vulnerable people on the

margins of society, and of the charities that work alongside them.

All of us are most grateful for the generous and imaginative

support we receive from far and wide in tackling this challenging

task. The work continues.

Christopher Spence MBEChair (from March 1999)

• Metropolitan Police • Neil Thin • Thorn • Tim Graham Picture Library • The Total Package • Ty Inc. • V2: Steve Abbott, Pier Reed, David Steele

17

“As soon as I found out

about the British Red Cross

project I realised how useful

it would be. It has been of

great help to my family and

me...I don’t know what I

would have done without it.

I would recommend it to

everyone who has similar

problems to me.”

Asylum Seeker at the British Red

Cross London Branch Refugee

Project, which was given £58,240

by the Fund.

The parents of Timothy Goggs visiting their son’s Memorial Stone in

Afghanistan. Tim’s Fund/Christian Aid was set up to help people affected by

landmines after Tim was killed by a landmine in 1992. It has received £70,000

from the Fund. (Photo courtesy of Christian Aid/Dave Hampson)

The Diana, Princess of Wales Memorial FundThe County Hall, Westminster Bridge Road, London SE1 7PBTel: 0171 902 5500 Fax: 0171 902 5511e-mail: memorialfund@memfund.org.uk

The Diana, Princess of Wales Memorial Fund is a registered charity in England, number 1064238.Cover photo courtesy of the Tim Graham Picture Library.This report is printed on paper taken from sustainable resources.

“My son was in a special care unit for 10

days after he was born, when he eventually

came home he was constantly upset and

hardly slept. In desperation, we phoned the

Osteopathic Centre for Children and after

only one session the difference was

extraordinary. Having had a baby who only

slept for a maximum of two hours at a time,

we took him home and he slept for so long

we ended up having to wake

him. Ever since then the

OCC has helped my

family and I with

its astounding

work.”

Mother at the OCC

which, thanks to the

£1 million grant from

the Fund, now has

new premises essential

for its continued work.

“I competed in both track

and field events at the 1998

National Junior Athletics

Championships in

Blackpool. The

success I achieved,

particularly in

wheelchair track

racing, has

encouraged me to

train for these

activities at a higher

level. Support from The

Diana, Princess of Wales

Memorial Fund enabled my

club, Gateshead Kestrels, to

take a full team with escorts

to the Championships”.

15year old competitor at Disability

Sport England’s National Junior

Championships in Blackpool

which is supported by the Fund. desi

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