Meghan Markle and Prince Harry’s Archewell have hit back after a staggering £8.7m drop in revenue was shown in their accounts for 2022.
The Duke and Duchess of Sussex published the Archewell Foundation’s Impact Report 2022-2023 this week.
The latest accounts for the year 2022 show that donations to Harry and Meghan’s organisation have dried up.
However, sources with direct knowledge of Archewell accounts have told TMZ that the organisation finished the year with over £6.3m ($8m) in the bank.
The latest accounts for the year 2022 show that donations to Harry and Meghan’s organisation have dried up.
PA
The organisation feels that despite making a loss of £535,000, the context of the remaining millions in the bank shows it is in good financial health, according to the outlet.
In 2021, the foundation received just over £10.3m in donations from multiple donors.
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 Duke and Duchess of Sussex do not take a salary from Archewell.
Getty
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 Duke and Duchess of Sussex do not take a salary from Archewell.
The Duke and Duchess of Sussex founded Archewell after stepping down as working royals in 2020.
Getty
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.
The Duke and Duchess of Sussex founded Archewell after stepping down as working royals in 2020.
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