Since its inception, the Archewell Foundation has managed to raise $13 million, as reported by Meg in 2020. A recent article published by French newspaper Envoy Special analyzed tax records of the actual organization, shedding light on its financial activities.
In their most recent financial report, the couple stated that they raised $13 million in donation money, with the breakdown listed in a table. They distributed 22 checks totaling $2.25 million to various charities.
However, a significant portion of the funds, $9 million, remains unspent and seemingly inactive. This raises questions about why this money, meant for good causes, is not being utilized as promised by their foundation.
This discrepancy between figures and their philanthropic discourse is not unfamiliar territory for the couple. During their time as working members of the royal family, they were associated with another foundation, the Queen's Commonwealth Trust. In the annual report for 2019-2020, it was revealed that they had raised £782,000 in donation money. Surprisingly, out of that amount, £705,000 was spent on operating costs rather than charitable endeavors, meaning that a significant 90% of the money did not directly benefit anyone in need.
Tax returns indicate that a single anonymous donor made a massive donation of $10 million through the Silicon Valley Community Foundation (SVCF). The SVCF, as per its annual report, granted a staggering $2.7 billion to nearly 6,000 non-profit organizations in 2021, making it a prominent charitable contributor. Archewell also received an additional $3 million from another unknown donor and $4,470 from public donations.
Regarding the couple's tax returns, they reported working only one hour per week for the charitable aspect of the foundation. However, this is standard practice for reporting in such tax forms. In 2021, the first full year of operation, the charity spent $163,085 on salaries. The documents indicate that James Holt, the foundation's chief executive, worked one hour a week and received a salary of $59,846 along with $3,832 in other benefits.
Wages amounting to $40,867 were paid for program services, while $22,811 covered management and general expenses. Other expenses in 2021 totaled $727,666, including $442,711 for legal fees, approximately $69,000 for conferences, meetings, and conventions, and $12,000 allocated for travel.
Overall, the charity's expenses in 2021 amounted to $3,987,070. The majority of this, over $3 million, was allocated as grants to 40 organizations, including initiatives related to vaccine equity, relief centers, and refugee resettlement. Employee compensation, benefits, taxes, legal fees, events, and travel accounted for around $369,925.
After stepping down from their royal duties, Prince Harry and Meghan Markle reportedly dedicated only one hour per week to their actual foundation in 2021. As they have publicly prioritized humanitarian charity since their move to the United States, there will inevitably be questions about how they have utilized their time.
According to a 2021 tax filing report, Prince Harry (38) and Meghan Markle (41) reported a total of 52 hours contributed throughout the year. Nonetheless, they managed to raise $13 million from affluent donors who support their cause.
In their filing, Harry and Meghan stated that the core purpose of the Archewell Foundation is to uplift and unite communities, both locally and globally, through acts of compassion. They believe compassion is the defining cultural force
