Prince Harry and Meghan Markle abandoned by donors as Archewell loses £9m in one year

Archewell Foundation have released their public disclosure of their accounts for 2022, and it paints a dismal picture of how Prince Harry and Meghan Markle’s foundation is progressing.

In 2021 the Foundation received just over £10.3million ($13million) in donations from several donors, but this year the couple had only two donors that gave just a fraction of last year’s total.

The detailed financial documents show that just two donors donated £795,210 ($1million) each – a significant drop of over £8.7million ($11million) in a year.

Harry and Meghan’s Foundation also recorded a loss of £536,357 ($674,485) due to the shortfall in donations. Last year they secured a profit of more than £7.1million ($9million).

Accounts show that Archewell’s total revenue for this year totalled £1,594,437 ($2,005,052) taking into account donations and income from investments) but expenses came to more than this – at a grand total of £2,130,795 ($2,679,537).

Other figures reveal that the Foundation employed five people in 2022, with salaries totaling £509,285 ($640,441) for the year.

But while Harry and Meghan are listed as a trustee or director, they did not take a salary. Its Executive Director James Holt however earned £180,835 ($227,405) – which included a £15,904 ($20,000) bonus.

The document also reveals that the couple use their royal titles, as the description reads: “Archewell Foundation is an impact-driven nonprofit created by the Duke and Duchess of Sussex.”

SOURCE

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