Harry-Markle Foundation Loses Millions In Donations

Donations to the Archewell Foundation, run by Prince Harry and Meghan Markle, fell by $11 million in 2022 compared to the previous year.

Funds donated to the foundation, which the Duke and Duchess of Sussex set up two years ago with the goal of “uplifting and uniting communities, both local and global, online and offline,” came to just over $2 million in 2022, down from $13 million the previous year. It lost almost $674,000 last year due to its overall costs being higher than its income. According to the couple’s annual report and a short video showcasing their efforts from the previous year, the organization suffered a loss of $674,485 on $2.67 million in expenses.

Among the organization’s $1.2 million in gifts was $100,000 to the Halo Trust, the mine-clearing charity that Princess Diana helped bring fame. However, according to the returns, as of the end of 2022, the foundation had $8.5 million left over. The figures show a solid base aiming for measured expansion according to those close to the pair. They elaborated that prominent foundations often get a large sum of money in their initial year and then spread it out over several years to expand their charitable endeavors.

Including a $20,000 bonus, James Holt’s 2022 compensation was $227,405 as the foundation’s executive director. Compared to his pay of less than $60,000 in 2021, the first year the company was operational, this is a 280% rise. The foundation still possesses a little over $8.3 million in assets and cash.

Archewell Audio and Archewell Productions are the couple’s for-profit media production enterprises. Although the audio division inked a multi-year arrangement with Spotify in 2020, the collaboration fell apart after completing a single series.

Contributions to nonprofits declined by over 10% in 2022, with individual donations decreasing by 13.4% due to rising inflation and a decrease in charity group personnel.