Meghan Markle and Prince Harry’s charity foundation, Archewell, has been rocked by controversy as $10 million was allegedly stolen from the organization.
Oprah Winfrey, who has been a generous donor, expressed her anger and decided to cut off funding.
This revelation has tarnished Meghan’s reputation as a philanthropist and put the foundation in a precarious financial situation.
Archewell aimed to be more than just an organization that throws money at problems.
However, recent financial reports tell a different story.
Donations have plummeted by a staggering 81% since Oprah stopped contributing.
The foundation’s overall expenses have also skyrocketed to alarming levels, raising concerns about their financial management.
One of the major reasons behind the increased expenses is the rise in employee costs.
Some employees took on roles in both the for-profit and non-profit sectors, relying heavily on the dwindling funds.
Expenses related to employees alone jumped from $163,000 to a whopping $640,000.
This raises questions about why a charity receiving just $2 million in donations needs to allocate such a significant portion to three full-time staff members.
Furthermore, non-grant related expenses have seen a significant increase.
In 2022, these expenses reached a staggering $1.4 million, compared to $890,000 in the previous year.
Fees for independent contractors also saw a notable increase from $325,000 to $428,000.
These figures are concerning, especially when considering the decrease in fund-to-funds from $13 million in 2021 to just $2 million in 2022.
Adding to the controversy is the absence of the alleged $10 million from Archewell’s tax forms.
This has raised serious suspicions and contradicts the Sussexes’ claims of supporting charitable causes.
Their lack of donations to previously supported groups like the Invictus Games and Healthy Baby further raises red flags.
The numbers speak for themselves and paint a picture of a foundation more focused on self-interest than on genuine philanthropy.
This situation is not just a public relations disaster; it serves as a case study on how not to manage a charity.
The Sussexes need to act swiftly to rectify the situation if they want to salvage their fund’s reputation and prevent further damage to their own standing.
Failure to address these concerns promptly could result in the loss of their platform and severe damage to their reputation.
It is crucial for Meghan and Harry to take immediate action to restore trust and ensure that Archewell’s mission of making a positive impact is not overshadowed by financial mismanagement and allegations of theft.