The Archwell Foundation, the charitable organization associated with Meghan Markle and Prince Harry, is currently under scrutiny by the Internal Revenue Service (IRS) due to suspicions of money laundering activities.
The investigation was prompted by the discovery of questionable financial dealings and grant-related concerns outlined in the foundation’s 990 tax form.
Meghan Markle has expressed outrage over the situation, as the IRS delves into Archwell’s operations.
The latest tax documents have revealed a decline in contributions for the foundation.
In 2022, Archwell suffered an $11 million decrease in donations compared to its first year in operation, 2021.
While the foundation received $13 million in donations in 2021, it only managed to secure a little over $2 million in 2022.
Surprisingly, almost 100% of these donations came from just two unidentified donors.
Despite the drop in contributions, Archwell still maintains assets worth $8.3 million.
This provides some solace amidst the financial challenges faced by the philanthropic organization.
In 2020, Archwell reported receiving a mere $50,000 in donations, while their expenditures exceeded this amount, with legal fees alone amounting to over $55,000.
These legal fees were incurred during the establishment and dissolution of their previous charities, Sussex Royal and MWX Foundation.
Notably, the MWX Foundation had to be renamed after the Queen prohibited the use of the royal name.
The tax documents also unveiled a significant anonymous donation of $10 million, out of the $13 million raised by Archwell in 2020.
The identity and intentions of this generous benefactor remain unknown, leading to speculation that it could be a close friend or business partner of Meghan and Harry.
Critics have raised concerns about the couple’s involvement with Archwell, suggesting that the foundation may serve as a front for money laundering and tax evasion.
There are also suspicions that it is being utilized as a platform to promote their political agenda and personal branding.
Questions have been raised regarding the decision to incorporate Archwell in Delaware, a state known for its business-friendly laws and low taxes.
This choice often attracts businesses seeking to conceal their financial activities and evade scrutiny from authorities.
In an attempt to divert attention from the damning Foundation report and overshadow their royal rivals, Prince William and Princess Kate, Harry and Meghan released a glamorous video showcasing their interactions with military veterans, Nigerian school girls, and their participation in various charitable functions.
This promotional video, which typically is released in January, was unveiled earlier than usual this year.
According to sources, the couple’s motive behind the early release of the video was to distract from the negative publicity surrounding Archwell and present themselves as global ambassadors.
It is evident that Harry and Meghan are striving to maintain their relevance in Hollywood’s circles, as their influence appears to be diminishing.
Their efforts have been met with disappointment, as they were excluded from the invitation lists of George and Amal Clooney’s star-studded Albie Awards gala in September.
Meghan recently signed with super-agent Ari Emanuel from William Morrison-Devver agency.