February 22, 2024


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Prince Harry and Meghan Markle’s Archewell Foundation is seeing an $11 million drop in donations

Prince Harry and Meghan Markle’s Archewell Foundation is seeing an $11 million drop in donations

Prince Harry and Meghan Markle’s charity, the Archewell Foundation, suffered an $11 million drop in donations in 2022 compared to the previous year.

The foundation, which was started by the Duke and Duchess of Sussex two years ago to “uplift and unite communities, local and global, online and off,” according to its website, which was revealed in a statement. Tax declaration on Tuesday that the nonprofit received just over $2 million in charitable contributions in 2022, compared to $13 million in 2021.

Archewell’s total expenses also exceeded its revenues last year, leaving it more than $674,000 in the red, according to the public filing. Its revenues in 2021 exceeded $9 million.

The organization’s executive director, James Holt, earned a salary of $227,405, including a $20,000 bonus, in 2022. That represents a 280% increase from his salary of less than $60,000 in 2021, the organization’s first year in operation. The foundation still holds just over $8.3 million in assets and cash.

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The foundation’s current initiatives include the Welcome Project, launched in 2023, to help recently resettled Afghan women build community through activities such as sewing and hiking. It also focuses on mental health initiatives, including supporting individuals in… Türkiye and Syria affected by earthquakes.

The couple also owns two for-profit media production companies, Archewell Productions and Archewell Audio. The audio arm in 2020 signed what was announced at the time as a multi-year deal with music and podcast company Spotify, but the partnership… It collapsed after the two parties cooperated in one series.

Total contributions to nonprofits fell more than 10% in 2022, according to a report History of philanthropyQuoting estimates from Giving USA. Donations from individuals, which make up the lion’s share of donations to nonprofit organizations, fell by 13.4% amid a sharp rise in inflation and declining headcount at charitable groups.

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