Meghan Markle and Prince Harry's Archewell suffers £8.7m drop in revenue as donations dry up
Meghan Markle and Prince Harry's Archewell Foundation has suffered a significant £9 million drop in revenue in the space of 12 months.
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Meghan Markle and Prince Harry's Archewell Foundation has suffered a significant £8.7 million drop in revenue in the space of 12 months.
The Duke and Duchess of Sussex's charitable organisation has released records of its accounts for 2022.
The latest accounts show that donations to Harry and Meghan's organisation have dried up.
In 2021, the foundation received just over £10.3m in donations from multiple donors.
The Duke and Duchess of Sussex's charitable organisation has released records of its accounts for 2022.
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However, the couple's organisation received just under £1.6m in donations in 2022.
This came in the form of two donors contributing £794,215 ($1million) each.
The huge difference in the amount donated to Archewell equated to a total drop in donations of £8.7 million in just 12 months.
This resulted in Archewell making a loss of £535,000 for 2022 as the foundation had expenses totalling £2,129,795.
The latest accounts show that donations to Harry and Meghan's organisation have dried up.
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The Duke and Duchess of Sussex do not take a salary from Archewell.
James Holt, the Executive Director of Archewell, earned almost £200k with a salary of £180,835 in addition to a bonus of £15,904.
Archewell employed five people in 2022 with salaries equalling £508,984 for the year.
Prince Harry and Meghan Markle released a new video alongside the Archewell Foundation's Impact Report 2022-2023.
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Meghan and Harry both feature throughout the 60-second montage of their engagements.
Archewell
Meghan and Harry both feature throughout the 60-second montage of their engagements.
The summary of the impact report that accompanies the video has been split into three sections that are titled: uplifting communities, building a better online world and restoring trust in information.
The Duke and Duchess of Sussex founded Archewell after stepping down as working royals in 2020.