Prince Harry and Meghan Markle have released their annual financial report, which reveals a few glaring issues for their beloved Archewell Foundation.
Donations are down dramatically and the Foundation reported a loss this year, but one thing really stood out – the fact that only two people made donations this year.
The tax filling details that Archewell received two donations of £795,210 ($1million) each. It does not name who or what organisation gave the money.
Another eyebrow-raising finding is that Harry and Meghan only work one hour a week, despite the pair making Archewell their priority since stepping back as working members of the Royal Family.
It also details that their finances are taking a turn for the worse, as it has lost £8.7million ($11m) in donations this year – sending accounts into the red.
Official paperwork published on their website yesterday (Tuesday, December 11) shows that the pair received donations from just two individuals in 2022 totalling £1.6m ($2m), which is down from £10.3million ($13m) the year before. This marks a substantial drop of £8.7m ($11m) in just 12 months.
The Duke and Duchess of Sussex’s Foundation also recorded a loss of £536,357 ($674,485), as its income of £1,594,437 ($2,005,052) failed to outweigh the £2,130,795 ($2,679,537) spent on expenses.
But despite heading into the red – having recorded over £7m ($9m) in profits the previous year – Harry and Meghan awarded boss James Holt a whopping 280 per cent pay rise.
The Executive Director saw his salary rise from £47,641 ($59,846) in 2021 to £181,030 ($227,405). He was also handed a £15,904 ($20,000) bonus.
Mr Holt works 40 hours a week, alongside senior strategic advisor Michael Dale Stein and co-executive director, treasurer and secretary Shauna Nep. They are on salaries of £111,743 ($140,116) and £74,163 ($92,994) respectively.
The charity spent £90,377 ($113,326) on legal fees, £45,678 ($57,277) on office expenses and £27,494 ($34,475) on travel.
Archewell is “an impact-driven nonprofit” intended to “uplift and unite communities, both local and global, online and offline”.
Through the Foundation, Harry and Meghan aim to “build meaningful initiatives, and drive long-term change” with a focus on creating a better world online, restoring trust in information and uplifting communities.
Alongside their financials, the couple also released their 2022/23 Impact Report and a glitzy one-minute long video highlighting the work they have completed this year.
The montage shows Meghan hugging people, volunteering at a pop-up baby boutique she staged for expectant mothers experiencing homelessness, and surprise calling a young entrepreneur alongside Harry.
It was released less than 24 hours after Princess Kate released a video showing her children, Prince George, Princess Charlotte, Prince Louis, volunteering at a baby bank.
Set to the song Happy Place by Glasgow brother duo SAINT PHNX, the soundtrack of Harry and Meghan’s clip features the lyrics: “Over the hills and far away, looking out for a better day, when it seems like there’s no escape, take me to my happy place.”
