In the past year, Prince Harry and Meghan Markle’s Archewell Foundation experienced a significant decline in donations, with contributions decreasing by approximately $11 million from the previous year.
The foundation, which was launched by the former royal couple following their move from the UK to California and their resignation as senior members of the royal family in 2021, reported receiving two separate donations of $1 million each from anonymous donors in 2022, according to the nonprofit’s tax returns released on Tuesday.
These modest donations marked a stark contrast to the previous year’s financial support, where Archewell received $13 million in contributions, including a substantial $10 million donation from an undisclosed individual, as indicated by the filings.
The reduction in donor contributions, coupled with operational expenses exceeding $2.6 million, resulted in the foundation operating at a loss for the year, with a net revenue deficit of -$674,485, a significant drop from the $9 million net revenue reported in 2021.
Despite this financial setback, the foundation maintains approximately $8 million in assets. Plus, Archewell’s executive director, James Holt, received a considerable salary increase of $170,000, as shown in the IRS forms.
Holt’s total compensation amounted to roughly $227,405, which included a $20,000 bonus, a substantial increase from his previous annual salary of $59,846.
Prince Harry, aged 39, and Meghan, aged 42, do not draw a salary from the Archewell Foundation, as indicated by the filings. The foundation, which prides itself on being an “impact-driven” nonprofit organization, made charitable donations totaling about $1.2 million, as per the 2022 tax forms.
Among Archewell’s philanthropic efforts was a donation of $100,000 to the Halo Trust, a demining charity that gained prominence through the efforts of Harry’s late mother, Princess Diana, in the 1990s, as noted by the BBC.
Also, the foundation contributed $125,000 to the NAACP Empowerment Programs Inc for the establishment of the NAACP-Archewell Digital Civil Rights Award. This initiative was featured prominently in Archewell’s 2022-2023 impact report, published on Monday.
In a joint statement included in the 28-page document, the Duke and Duchess of Sussex expressed their intentions behind the award. “When we founded this award with the NAACP, we wanted to highlight and uplift people across the country who are transforming the digital world for the better,” the couple said.
The annual report also showcased various other achievements supported by Archewell, such as providing 3,176 hours of trauma-informed mental health support to individuals affected by the earthquake in Syria and Turkey. The release of the report was accompanied by a video featuring Harry and Meghan engaging in various Archewell initiatives.
However, some royal observers criticized the video as an attempt to overshadow footage of Kate Middleton and her three children volunteering at a baby bank.
The relationship between Harry and Meghan and the rest of the royal family, including Prince William and Kate, both 41, has been strained since the couple’s departure from their royal duties nearly four years ago.
