Meghan Markle and Prince Harry’s Archewell Foundation has raised $5.3 million in its third year, effectively refuting claims of «missing millions» (Exclusive).
As per the Archewell Foundation’s 2023 tax records, the Sussexes’ nonprofit allocated $1.3 million of the more than $5 million raised to charitable initiatives, covering the period from January to December 2023.
Founded in 2020, shortly after Meghan Markle and Prince Harry stepped down from their roles as senior working royals, Archewell received a $5 million donation from a single donor, along with $335,000 from five individual contributors.
The foundation’s various programs, including The Parents Network and other community-based efforts, have garnered increasing support, resulting in higher funding and assets by year-end. These funds will be directed toward continuing and expanding Archewell’s projects.
Contrary to earlier reports claiming that $4 million had gone unreported in Archewell’s 2022 tax return, the charity has clarified that all funds were properly accounted for. The sum in question has been included in the current 2023 tax filing.
The foundation’s total revenue for the year, including investment income, reached $5.7 million. The filing also revealed the couple’s minimal involvement in Archewell’s operations, noting their one-hour-per-week commitment, a common practice for directors of U.S. tax-exempt organizations. It further confirmed that Meghan and Harry do not draw any salary from the foundation.
The tax records detailed the salaries of several key staff members. James Holt, co-executive director, earned a salary of $228,500, plus $18,428 in benefits.
Co-executive director Shauna Nep received a salary of $272,241, with additional benefits totaling $26,356.
Additionally, the tax return outlined other significant expenditures, including $997,285 in salary costs and over $1 million in total expenses. These expenses were allocated to legal fees, event costs, travel, and other public-facing initiatives of the foundation.
A key emphasis of the Duchess of Sussex’s efforts remains empowering women and girls, with significant resources allocated to initiatives that foster empowerment, well-being, and social justice.
Additionally, the foundation provided a $130,000 contribution to Humanity Crew, a mental health organization focused on preventing trauma among displaced children and their families by offering emergency psychological support and training.
The foundation also donated $125,000 to the NAACP to help fund digital civil rights initiatives.
