The Archwell Foundation, led by Prince Harry and Meghan Markle, has experienced a surprising decrease in donations this year, with only two donors contributing a total of £795,000 or $1 million.
This marks a staggering drop of £8.7 million or $11 million compared to the previous year’s contributions.
The Foundation’s tax filings for 2022 have raised concerns about its financial health.
In 2021, the Archwell Foundation thrived with over £10.3 million or $13 million in donations from various sources.
However, this year has seen a drastic change, with only two donors stepping forward to support the Foundation, resulting in a significant shortfall.
The detailed financial records reveal that these two donors collectively contributed just a fraction of the previous year’s total.
Furthermore, the Archwell Foundation reported a loss of £536,000 or $674,000, attributing this setback to the notable decline in donations.
This is a stark contrast to the previous year when the Foundation recorded a profit exceeding £7.1 million.
These financial challenges have put the spotlight on Prince Harry and Meghan Markle’s involvement in the Foundation.
Despite holding directorial roles, the Sussexes reportedly dedicate only one hour per week to the Foundation.
This raises questions about their level of engagement and the impact it may have on the Foundation’s operations.
The tax report also highlights the Foundation’s total revenue for the year, which amounted to £1,594,000 or $2 million, considering both donations and income from investments.
However, expenses surpassed this figure, reaching a total of £2,130,000 or $2,679,000.
In terms of employment, the Foundation had a staff of five individuals in 2022, with salaries totaling £509,000 or $640,000 for the year.
It is worth noting that while Prince Harry and Meghan Markle are listed as trustees or directors, they did not draw a salary.
On the other hand, Executive Director James Holt earned £180,000 or $227,000, including a £15,900 bonus.
An interesting aspect revealed in the tax documents is the couple’s usage of their royal titles.
The Foundation’s description explicitly states that the Archwell Foundation is an impact-driven non-profit created by the Duke and Duchess of Sussex, emphasizing the continued integration of their prestigious titles into the Foundation’s identity.
As the Archwell Foundation navigates these financial challenges, there is anticipation surrounding how Prince Harry and Meghan Markle will steer their philanthropic venture in the coming years.
The significant drop in donations raises concerns about the future of the Foundation’s charitable initiatives and their ability to make a lasting impact.
What are your thoughts on this news?
How do you think the decrease in donations to the Archwell Foundation in 2022 will affect Prince Harry and Meghan Markle’s charitable endeavors?
Share your opinions in the comments below.
We will have to wait and see how the situation unfolds.
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