Sources close to the couple, speaking to TMZ, emphasized that the reported £8.7 million decline in revenue, as indicated in the organization's impact report for 2022-2023, is "misleading" as it doesn't consider the non-corporate nature of the foundation.
The insiders clarified that the Sussexes concluded the year with over £6.3 million ($8 million) in the bank, asserting that the foundation remains in "good financial health" despite the loss of £535,000.
Financial documents of Archewell, as reported by the Daily Express, revealed a donation of £795,210 ($1 million) from two donors, a fraction of their 2021 total.
The total donations for 2021 amounted to approximately £10.3 million ($13 million), representing a decrease of £8.7 million ($11 million) compared to the previous year. The foundation recorded a loss of £536,357 ($674,485) due to a deficit in donations.
Founded by the Duke and Duchess of Sussex in 2020, shortly after stepping down from their royal positions, the Archewell Foundation focuses on combating online bullying, restoring trust in information, and uplifting communities, according to its website. Despite financial challenges, Meghan and Harry are determined to continue their philanthropic efforts through the foundation.
