018. michael gibbins at diana princess of wales memorial fund
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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
gn:
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desi
gn c
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ltan
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