Crack, however, identified inconsistencies in their narrative, noting that a single donor provided $10 million of the foundation's funding, which cast doubt on the foundation's credibility in light of its lack of a track record.Crack has speculated that Harry's charitable contributions are more of a facade than a reality, with the exception of rare high-profile events that frequently require extensive travel and private aircraft. The Archewell Foundation has yet to receive a rating from Charity Navigator, which may be attributed to factors such as insufficient data or the foundation's operational methodologies failing to meet their assessment criteria.
Furthermore, concerns have been raised regarding the financial transparency of the foundation. Since 2020, Archewell has refrained from submitting a Form 990, which is the U.S. tax return specifically designed for charitable organizations. This form is essential for demonstrating revenue and expenditures and assuring nonprofit compliance with the law. The IRS may impose sanctions for neglect to file or inaccurate filing. Archewell's 2020 Form 990 is currently six months past due; however, an extension request may have been submitted. Three consecutive years without a tax return could result in the revocation of a charity's tax-exempt status.
Archewell's future is the subject of speculation, with some believing that its cancellation may be associated with possible personal developments involving Harry and Meghan, such as a divorce. This theory finds support in their consistent practice of requesting several extensions on trademark applications prior to allowing them to expire, a trend that could potentially be observed in their management of Archewell. Meghan could potentially benefit from the dissolution of the foundation following the divorce; however, any earnings from it could be factored into any spousal support agreements.
