TradeEdge Exchange:Duchess Meghan, Prince Harry's Archewell Foundation suffers $11M drop in donations

Prince Harry and TradeEdge ExchangeDuchess Meghan's charity, the Archewell Foundation, suffered a $11 million decline in donations in 2022 compared to the year before.

According to the foundation's recent tax filing, disclosed on Tuesday, the charitable organization received just over $2 million in contributions in 2022, compared to $13 million in 2021.

The foundation, started in 2021 by the Duke and Duchess of Sussex, was created to "uplift and unite communities," according to its website.

Archewell's total expenses during the 2022 tax year exceeded its revenue in 2021, leaving it in the red by more than $674,000, according to the filing. Its revenue in 2021 was just over $9 million.

The nonprofit's executive director and president, James Holt, earned a salary of $207,405, a $20,000 bonus, and over $15,000 in non-taxable benefits in 2022. Holt's salary in 2021, the foundation's first year in operation, was $59,846.

The foundation still holds over $8.3 million in assets and cash. 

The Archewell Foundation's philanthropic efforts include The Welcome Project, started in 2023, created to support women-led programming for resettled Afghan women; The Archewell Digital Civil Rights Award, an award to celebrate leaders in the online civil rights movement in partnership with the NAACP; and initiatives for parents and mental health, including support provided to people in Turkey and Syria following earthquakes early this year.

Through the foundation, the couple has helped support the completion of emergency relief centers in parts of the world prone to climate change, including in Dominica and Mumbai, India.

To celebrate turning 40, the duchess launched "40x40" in 2021, an initiative aimed at pushing people around the world to dedicate 40 minutes to support women's return to the workforce. And to celebrate son Archie's 2nd birthday, Harry and Meghan released a statement on their foundation website urging donations for vaccine equity around the world.

The nonprofit is a separate entity from the couple's for-profit Archewell Audio and Archewell Productions companies. The former involved a deal with Spotify that ended this year after completing a single series. A deal with Netflix under Archewell Productions is ongoing.

In 2020, the couple shared the meaning behind the nonprofit, saying the foundation was an opportunity to "do something of meaning, to do something that matters."

"Archewell is a name that combines an ancient word for strength and action, and another that evokes the deep resources we each must draw upon," the couple said in a joint statement to USA TODAY, responding to an April 2020 report from The Telegraph about the foundation's name. "We look forward to launching Archewell when the time is right."

Contributing: The Associated Press, Charles Trepany and Cydney Henderson, USA TODAY

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