Archwell Foundation Faces £8.7 Million Drop in Donations

The Archwell Foundation, overseen by Prince Harry and Meghan Markle, has encountered a significant decrease in donations amounting to £8.7 million or $11 million this year, originating from just two contributors.

This unexpected development has cast a shadow over the financial stability of the Foundation, as revealed in their recently disclosed tax filings for the year 2022.

In stark contrast to the previous year, where the Foundation thrived with over £10.3 million or $13 million in contributions from various donors, the landscape has drastically shifted this year.

The detailed financial records indicate that the total donations plummeted by over £8.7 million or $11 million, with only two donors collectively contributing $795,000 or $1 million each, marking a substantial decline within a mere one-year span.

Compounding the financial challenges, the Archwell Foundation reported a loss of £536,000 or $674,000, attributing this setback to the notable shortfall in donations.

This marks a significant departure from the preceding year when the Foundation recorded a profit exceeding £7.1 million.

Delving deeper into the financial intricacies, the total revenue for the Foundation in 2022 amounted to £1,594,000 or $2 million, inclusive of both donations and investment income.

However, expenses surpassed this figure, totaling £2,130,000 or $2,679,000.

The Foundation employed a staff of five individuals during the year, with total salaries reaching £509,000 or $640,000.

Despite holding directorial positions, Prince Harry and Meghan Markle reportedly dedicate merely one hour per week to the Foundation.

Notably, the couple did not draw a salary, while Executive Director James Holt earned £180,000 or $227,000, including a £15,900 bonus.

An intriguing detail from the tax report highlights the usage of royal titles by the couple within the Foundation's framework.

The Archwell Foundation is explicitly described as an impact-driven non-profit established by the Duke and Duchess of Sussex, underscoring the continued integration of their esteemed titles into the Foundation's identity.

As the Archwell Foundation confronts these financial hurdles, global attention is focused on how Prince Harry and Meghan Markle will navigate their philanthropic endeavors in the upcoming years.

The substantial drop in donations for the Foundation in 2022 raises questions about the future impact on the charitable initiatives spearheaded by the royal couple.

Share your thoughts on the implications of this news and how it might influence Prince Harry and Meghan Markle's philanthropic ventures in the comments section.

The unfolding narrative of the Archwell Foundation's financial challenges captivates audiences worldwide, prompting anticipation for the direction Prince Harry and Meghan Markle will steer their charitable efforts in the future.

Stay tuned for more updates as the royal saga continues to unfold.