In the past year alone, Archewell faced a staggering $1 million drop in its donations, painting a dire picture for the foundation. This decline is a far cry from the financial glory of the previous year, when they raised a whopping $13 million in contributions. What happened to the lavish donations from undisclosed individuals that once filled Archewell’s coffers? Well, it seems those golden days are over.
The Archewell Foundation’s 2022 tax returns revealed that two anonymous donors contributed only $1 million each, a stark contrast to the previous year’s windfall, which included a stunning donation of 10 million dollars from a mysterious benefactor. The financial situation has certainly turned around and Archewell is now operating at a loss, with a net revenue deficit of $674,500 reported in 2021. But wait, there’s more. Archewell’s executive director, James Holt, appears to enjoy a good salary despite the foundation’s financial difficulties. Holt received a staggering $170,000 pay raise, bringing his total compensation to approximately $227,450, which includes a generous $220,000 bonus.
This salary increase raises eyebrows and questions about the allocation of funds. Let’s not forget that Prince Harry and Meghan themselves do not receive a salary from Archewell. However, with operational expenses exceeding $2.6 million and a foundation operating at a loss, one can’t help but wonder about the financial management of this impactful nonprofit. Despite the setbacks, Archewell proudly boasts of maintaining $8 million in assets.
However, financial difficulties are evident, raising questions about the sustainability of their major philanthropic projects. This drop in donations perhaps indicates a shift in public opinion towards the Duke and Duchess of Sussex in terms of their charitable efforts.
Archewell made donations totaling about $1.2 million, of which $100,000 went to the Halo Trust, a landmine clearance organization closely associated with Princess Diana. An additional $125,000 was awarded to the NAACP Empowerment Programs Inc. for the NAACP Archewell Digital Civil Rights Award. These initiatives were highlighted in Archewell’s 2022-2023 Impact Report, released this week.
The report also contained a joint statement from Prince Harry and Meghan expressing their intentions behind the award, stating: “When we created this award with the NAACP, we wanted to highlight and elevate people across the country who are transforming the world digital for the best. “. This is indeed a laudable effort.
However, Archewell’s financial difficulties inevitably cast a shadow over their charitable efforts. In response to the financial downturn, Archewell released a video showcasing Harry and Meghan’s involvement in various initiatives. Still, critics say it could be an attempt to distract from images of Kate Middleton and her children volunteering at a baby bank.
The dynamic within the royal family continues to be a hotbed of tension and competition, even in the area of philanthropy. As Archewell struggles financially, questions arise about its future and the effectiveness of its charitable contributions. What went wrong, and can Harry and Meghan recover from this setback? Only time will tell, but one thing is certain: The Archewell Foundation is facing a storm, and the fallout could be monumental.
