Prince William and Kate's move discussed by commentator
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The Royal Foundation is the Duke and Duchess of Cambridge’s main charitable organisation, working on causes including conservation, early years, mental health, and emergency responders. In 2021, the organisation also started the – later spin-out – Earthshot Prize, awarding £1million to five winners yearly for their environmental contributions.
Harry and Meghan announced they were stepping down from senior members of the Royal Family in early 2020 and moved to California, US, declaring they wished to become financially independent.
But in the meantime, Kate and William’s Royal Foundation thrived, as their income skyrocketed, mainly due to the launch of the Earthshot Prize.
The Cambridges’ organisation’s total income for the year to December 31, 2021 was £20.4 million, an increase of 73 percent on 2020 (£11.8million), according to their published accounts.
This in turn was an increase of 77 percent on 2019 (£6.7million).
The majority (98 percent) of the total income consisted of donations, grants, royalty and legacy income.
The organisation’s restricted fund income nearly quadrupled to £18.6million in 2021, due primarily to income relating to the inaugural Earthshot Prize.
Exchanges related to Earthshot accounted for 89 percent of the restricted income and 81 percent of the total income in the year.
Prince William and Kate announced that with the Earthshot Prize spinning out to become an independent charity in the second half of 2022, income is expected to revert back to a lower level in 2022.
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Moreover, unrestricted income fell by 3.6 percent to £1.8million, reflecting some large unrestricted donations that the couple’s charity received in 2021.
In 2019, Harry and Meghan registered Sussex Royal Foundation, a private company limited by guarantee in England and Wales.
However, after a meeting with senior members of the Royal Family in 2020, it was confirmed that the couple would not use “Sussex Royal” as a brand name after they stepped down as working royals.
Later that year, Sussex Royal Foundation was renamed “MWX Foundation” and dissolved.
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