On December 12, Prince Harry and Meghan Markle’s Archewell Foundation released their annual report on their charitable activities.
Accompanied by a flashy advertisement showing the good work they can do in 2023. However, leaked documents show that the organization’s financial situation has decreased significantly compared to 2022.
An income tax return filed in the US revealed that in 2022, the amount of money the fund raised was just over 2 million USD, a decrease of 11 million USD compared to 12.9 million USD in 2021.
The fund Archewell recorded a loss of $674,485 in 2022 because revenue only reached $2 million but expenses were $2.67 million.
Meanwhile, the organization founded by the Sussexes earned a profit of 9 million USD in 2021.
Two years ago, an anonymous wealthy donor gave Harry and Meghan $10 million. However, this person did not continue to support in 2022, instead only two benefactors spent about 1 million USD/person.
Regarding operations, in the past year, the Archewell Foundation awarded 200,000 USD to the gender equality initiative of Georgetown University (Washington, D.C., USA), 100,000 USD to Halo Trust (an organization tasked with removing landmines). that Princess Diana once supported), $10,000 for flood relief in Nigeria and $50,000 for a Ukraine crisis response charity. The annual report also shows funds donated to other charitable projects.
Notably, despite the loss, Harry and Meghan significantly increased salaries for their employees. CEO James Holt, the Sussexes’ right-hand man, is paid $227,405 a year, including a $20,000 bonus. Compared to a starting salary of $59,846 in 2021, Mr. Holt received a salary increase of about $170,000. However, because Holt begins taking office in mid-2021, the above salary does not reflect the full 12 months of work.
The foundation employs five people, with a total salary of $640,441 for the year. Harry and Meghan do not receive salaries.
Despite losses in 2022, the fund still holds about $8.3 million in cash and assets thanks to its massive first-year endowment.
The news follows a tumultuous year for the estranged royal couple, when Harry’s memoir Spare topped the bestseller list but their personal popularity ratings plummeted.
They are also the subject of ridicule from famous television shows such as South Park and Family Guy… regarding claims of being chased by cars on New York streets by paparazzi. Additionally, the couple lost their lucrative podcast deal with Spotify. Harry also repeatedly failed in lawsuits against the British press. The most recent was being forced to pay more than 60,000 USD to The Mail on Sunday.
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Source: Tampa Bay Times
