Prince Harry and Meghan Markle’s charity, the Archewell Foundation, released its tax record for 2023.
Prince Harry and Meghan Markle’s charity released its tax record for 2023
Prince Harry and Meghan Markle have hit back at various reports suggesting their charity, the Archewell Foundation, had hidden funds in a “missing millions” scandal.
The Mail reported back in September that the Duke and Duchess of Sussex were given two grants of more than £4.5 million ($6 million) over the last two years – but said that they were missing from the charity’s tax return. The charity at the time told the publication that the records, which declared $2,000,911 in tax return, are correct and the money will appear on the next tax return.
The Daily Express previously revealed that the Sussexe’s records were correct.
And today, People magazine reported that Archewell saw growth in its third year of operation, receiving a total of £4,1 million ($5.3 million) in grants more than double the £1,5 million ($2 million) raised the previous year.
The Sussexes’s charity revealed its 2023 tax records
The foundation’s 2023 tax records, which the outlet claims to have reviewed, allocated allocated £1 million ($1.3 million) of the over £3,9 million ($5 million) raised to charitable causes from January to December 2023.
According to the outlet, the foundation received a £3,9 million ($5 million) donation from an individual donor and another £264,484 ($335,000) from five different contributors.
The report read: “PEOPLE understands that Archewell’s efforts, including initiatives like The Parents Network and other community-based programs, have attracted more backing, leading to higher funding and assets at the end of the year.
“These funds will be used to support ongoing projects and expand the foundation’s work.”
Regarding the “missing million” claims, the charity’s records show that in separate reports for the 2022-2023 fiscal year, Fidelity Charitable contributed £4,7 million ($6 million) to Archewell, while TisBest Philanthropy reported a grant of £7,897 $10,000.
Archewell reportedly confirmed that it received two separate £789,727 ($1 million) grants from anonymous donors.
The report said: “This discrepancy in reported amounts stems from differences in the timing of the grants, which has been clarified in the charity’s current filing.”
Archewell’s total revenue of the year amounted to £4,5 million ($5.7 million), while the tax filing disclosed the couple’s “nominal one-hour-per-week involvement in Archewell’s operations”, which is “a standard practice for directors of U.S. tax-exempt organisations” and it also reportedly confirmed that the Sussexes do not receive any salary from the charity.
The records outlined salaries for key staff members while they also unveiled key expenditures like £787,271 ($997,285) in salary costs and £789,475 ($1 million) in overall expenses covering fees, event costs, and travel.
According to the outlet, the year-over-year increase in expenses is attributed to the expansion of key programmes the charity is involved in.
Archewell ‘s distributed £1 million ($1.3 million) in grants for causes it supports like mental health initiatives, online safety, community building, empowerment of women and girls and efforts to combat misinformation
In the foundation’s 2024 Impact Report, co-executive directors James Holt and Shauna Nep said: “Our purpose is simple yet impactful: to show up, do good. To drive positive change, rally for communities in need, and nurture spaces where everyone is seen, valued, and supported. In 2024, we were honoured to work alongside communities, families, and individuals who, despite facing tremendous hardship, are redefining what’s possible.”