Archewell Foundation Faces Decline in Donations
The Archewell Foundation, established by Prince Harry and Meghan Markle, experienced a significant decrease in donations in 2022 compared to the previous year. The charitable organization, founded two years ago with the aim of uplifting and uniting communities, both locally and globally, disclosed in a recent tax filing that it received just over $2 million in charitable contributions in 2022, a sharp decline from the $13 million received in 2021.
In addition to the decline in donations, Archewell's expenses surpassed its revenue in 2022, resulting in a deficit of over $674,000. This is in contrast to the previous year, when the foundation generated revenue of over $9 million.
The foundation's executive director, James Holt, saw a significant increase in his salary in 2022. He earned $227,405, including a $20,000 bonus, representing a 280% increase from his salary of less than $60,000 in 2021.
Despite the decline in donations and financial challenges, the Archewell Foundation still maintains assets and cash totaling over $8.3 million.
Current Initiatives
The Archewell Foundation is currently focused on various initiatives, including The Welcome Project, which was launched in 2023. This project aims to assist recently resettled Afghan women in building a sense of community through activities such as sewing and hiking.
In addition, the foundation is actively involved in mental health initiatives, particularly in providing support to individuals in Turkey and Syria who have been affected by earthquakes.
The couple also have two non-profit organizations dedicated to media production, Archewell Productions and Archewell Audio. In 2020, Archewell Audio entered into a multi-year partnership with music and podcast company Spotify. However, the collaboration between the two parties fell apart after working on just one series.
According to the Chronicle of Philanthropy, overall contributions to non-profit organizations experienced a decline of more than 10% in 2022. This decrease is attributed to a combination of factors, including higher inflation and a decrease in staffing at charitable groups. Donations by individuals, which make up the majority of giving to non-profits, experienced an even steeper decline of 13.4%.
