Title: Archewell Foundation Sees Significant Drop in Donations, But Remains Committed to Philanthropic Pursuits
Subtitle: Prince Harry and Meghan Markle’s foundation, Archewell, reported a decrease in donations last year, but maintains substantial funding for their philanthropic initiatives.
Donations to Archewell, the foundation established by Prince Harry and Meghan Markle, experienced a significant decline in 2022, raising only $2 million compared to the previous year’s $13 million. This revelation comes from the foundation’s recently obtained Form 990, as reported by the BBC.
In addition, the foundation recorded a loss of $674,485, despite incurring costs amounting to $2.67 million. However, Archewell was able to make grants totaling $1.2 million, with one notable recipient being the Halo Trust, receiving $100,000. Despite this downturn in donations, the foundation still retains a sizable remaining funding of $8.5 million as of the end of 2022.
Although the figures indicate a decrease in public contributions, sources close to the couple have revealed that Archewell is deliberately seeking slow and intentional growth. The foundation currently boasts over $11 million in reserve specifically allocated for philanthropic endeavors. It is also rumored that Prince Harry and Meghan Markle personally donated several millions to jump-start Archewell in its inaugural year.
The tax filing further disclosed that the foundation’s executive director, James Holt, witnessed a significant increase in income, from $59,846 to $227,405 during this period.
Archewell’s recently released “impact report” outlined various initiatives supported by the foundation, ranging from programs centered on gender justice to the establishment of a playground at the site of a school shooting. Other notable efforts include an immigrant welcome program and anti-disinformation initiatives. However, specific amounts contributed to each program were not disclosed.
News outlets have approached Archewell for comment regarding the decline in income. While the foundation has yet to release a statement, its commitment to their philanthropic pursuits remains resolute.
Despite facing financial challenges in the previous year, Archewell continues to carve a path towards positive social change, demonstrating an unwavering determination to address pressing societal issues through their charitable endeavors.
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