By Nahason Nyagaka
The Duke and Duchess of Sussex have unveiled a new video showcasing the impact of their Archewell Foundation, even as the charity grapples with a significant drop in funding compared to its inception.
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In this one-minute montage, Meghan Markle is seen embracing people, volunteering at a pop-up baby boutique for expectant mothers experiencing homelessness, and surprising a young entrepreneur alongside Prince Harry. The video, set to the uplifting tune of "Happy Place" by Glasgow brother duo SAINT PHNX, aims to spotlight the positive work carried out by the Sussexes' foundation.
However, the timing of this release is intriguing. Just hours before, Kensington Palace shared footage of the Princess of Wales, alongside her children Prince George, Princess Charlotte, and Prince Louis, assisting at the Windsor Baby Bank, a charity supporting families in need.
Is it mere coincidence? Perhaps. But considering the challenges faced by the Sussexes throughout what can only be described as their 'annus horribilis,' it's understandable that they seek to bolster their public image. Notably, the Archewell Foundation has experienced a sharp decline in annual donations, losing nearly $11 million (£8.6 million).
Let's delve into the numbers. According to unaudited figures released by Archewell, the charity generated $5 million in revenue this year, issued grants totaling $1.2 million, and currently holds $11.2 million in remaining funding. However, in 2022, its revenue was $2 million, with grants of $1.2 million and reserves of $8.5 million. Remarkably, during its inaugural year in 2021, Archewell's revenue soared to $13 million, distributing $3 million in grants and maintaining $9.1 million in reserves.
The year-on-year decline from 2021 to 2022 amounts to a staggering $11 million. While there has been a slight recovery this year, the current revenue of $5 million still falls significantly short of the foundation's initial success.
In addition, the annual tax filing for 2022 reveals a loss of $674,485 (£530,064). Although the revenue from two unnamed contributors reached $2 million, total expenses, including grants and salaries, exceeded that amount.
Prince Harry, who has resided in the US since 2020, recently expressed feeling "forced" to step back from his royal duties and leave the UK three years ago. Meanwhile, the foundation's co-executive director, James Holt, received a salary of $227,405, including a bonus, plus non-taxable benefits.
As the Sussexes navigate these challenges, their commitment to charitable endeavors remains steadfast. The Archewell Video serves as a testament to their unwavering dedication, even in the face of financial setbacks.
