Meghan Markle & Harry's Charity Loses $11 Million In Donations
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00:00 As donations to Harry and Meghan's Archwell Foundation have plunged by 11 million dollars.
00:07 Meghan Markle and Harry's charity is down 11 million dollars in donations. So of course I'm
00:15 wondering what's going on? Are way less people just donating? Like what's happening with this
00:20 whole charity? The news that donations dropped to just two million dollars comes as the Duke
00:25 and Duchess of Sussex. Back in 2020, Prince Harry and Meghan Markle established Archwell Inc.,
00:30 comprising both for-profit as well as not-for-profit entities, encompassing their
00:35 charitable foundation as well as media ventures like Archwell Audio and Archwell Productions.
00:42 Intended as a hub for the Sussexes' business and charitable endeavors in their new life in the
00:48 United States, Archwell faced typical challenges encountered by new ventures, and this included
00:54 the discontinuation of Meghan's Spotify podcast after its first season. But aside from that,
01:09 the most concerning development is the recent significant decrease in donations to Archwell's
01:16 charitable division. And it's pretty concerning because we know Meghan Markle's podcast was
01:21 cancelled. That was like a 20 million dollar deal. It was a lot of money. And now to hear that their
01:28 charity is down by 11 million dollars in donations. Yeah, this is concerning guys.
01:33 And it's this donations to Harry and Meghan's Archwell Foundation has plunged.
01:38 A recent report from the New York Post reveals that Archwell's tax returns show it received just
01:43 two substantial donations in 2022, each totaling one million dollars from undisclosed contributors.
01:50 And this starkly contrasts with the prior year. And during 2021, Archwell garnered 13 million
01:58 dollars in contributions. The duchess hugging veterans and taking selfies to highlight the
02:05 impact of the foundation. Compounding the issues now, the organization's operational costs surged
02:11 to over 2.6 million dollars in the year 2022, adding to concerns about its financial situation.
02:19 And of course, 2023 at the time of filming this video isn't complete yet, but we're going to be
02:25 seeing those numbers really soon. We can only go based off of the previous years, though,
02:30 at the time of filming this. And in 2022, Archwell Foundation, it faced financial setbacks,
02:37 incurring losses estimated at approximately 670 thousand dollars, which is a notable contrast to
02:43 the 9 million dollar net revenue reported in 2021. Surprisingly, during the same year of financial
02:50 challenges, the organization's board granted executive director James Holt a significant
02:56 raise. James Holt's compensation totaled around 227 thousand 405 dollars in 2022, including a
03:04 20 thousand dollar raise, marking a substantial increase from his 59 thousand 846 salary in 2021.
03:11 And this is according to the New York Post. So this guy is being paid a lot to do what, though?
03:18 Like, why is he getting so much money, yet the foundation is in decline? Now, despite these
03:23 financial challenges, though, the Archwell Foundation retains approximately 8 million
03:27 dollars in assets, as indicated by tax filings and recent impact reports. It's essential to note
03:34 that the foundation, being a non-profit entity, operates under different standards than a for-profit
03:40 corporation. Of course, that's 100 percent understandable. And now in 2022, though,
03:45 despite financial fluctuations, the organization managed to make significant contributions to
03:50 causes such as the NAACP and Project Halo, aligning with Prince Harry's commitment to the
03:58 anti-landmine initiative, championed by his late mother, Princess Diana. And while the year 2023
04:04 presented a lot of hurdles for Harry and Meghan, there were some notable positive aspects, though,
04:11 including Harry's debut memoir, Spare, that became the best-selling book of the year in the UK.
04:18 So Harry and Meghan, their financial situation is up and down. It seems like it's a lot more down
04:25 than up, though. Like, money is being blown. They're losing deals. So they still have their
04:31 assets, though. So they're still pretty rich, you know. They're still royalty. They still have their
04:37 royal titles. And Prince Harry, of course, he had a massive net worth coming into the marriage with
04:42 Meghan Markle. And she also had a pretty sizable net worth as well, too. So they're not poor by
04:48 any stretch of the term. They just had some huge financial mishaps, not just on their for-profit
04:55 side, but also their non-profit charitable organization. It just seems like a lot of
04:59 people aren't really backing the Sussexes as much as before. But guys, I want to know what your
05:06 thoughts are about this. Do you think that it will change, that this is just a temporary setback for
05:10 the Duke and Duchess of Sussex, Harry and Meghan? Or do you think that, yeah, like many people are
05:16 predicting, they are continuing to fall and that's not going to stop? Be sure to join in on the
05:21 conversation down below. Thanks for hanging out with me here on FTD News, and I'll catch you guys
05:25 next time.