The most recent announcement stated that Princess Diana's Memorial Fund will no longer go directly to the Royal Foundation (which has been the protocol since 2013), but will be split between the Royal Foundation and a philanthropic organization of Harry's choice.
This announcement is a shift from the brothers' December 2019 agreement, which stipulated that the money would be split between the Royal Foundation of the Duke and Duchess of Cambridge and the Sussex Royal foundation. Since then, the Sussex Royal foundation has since been disbanded (with Harry's choice to leave the royal family).
With that in mind, a new approach to splitting the funds was necessary.
According to The Guardian, "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 People, this year, Harry has asked that his share be donated to Sentebale, an HIV/AIDS charity, "which he set up with his friend Prince Seeiso of Lesotho, Africa was inspired by his mother’s work in combating AIDS."
Harry and Meghan are currently working on creating a new charitable foundation, Archewell,in place of Sussex Royal foundation, but coronavirus has delayed the process.