12 December 2023 , 13:28
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Prince Harry and Meghan Markle have been dealt a huge blow as it's been revealed donations to their charitable foundation have plunged by £9million compared to the previous year.
The couple's Archewell Foundation, named after son Prince Archie, has today released its accounts for 2022, which show it received two donations amounting to £1.6million. This compares to the previous year when it received over £10.4million in donations - a drop of over £8.7million. After salaries, expenses and grants are taken into account, this means that Archewell made a loss in revenue of approximately £536,000, although the foundation is still holding more than £6.8million in funds.
Prince Harry and Meghan Markle at the Invictus Games earlier this year (Getty Images)In 2021, Archewell handed out more than £2.4million in grants, but in 2022 that number has slipped to just over £1million. Expenses were up slightly from £578,188 to £624,699. However, one area that saw the biggest jump is salaries, where £508,881 was paid out compared to £129,584 last year.
The accounts show that five people are listed as employees of Archewell including Harry and Meghan, who are referred to by their royal titles, although they do not take a salary and are listed as just working one hour per week for the Foundation.
The highest paid is Archewell's co-director James Holt, who received £180,691 in a salary as well as £12,431 in other compensation and a bonus of just under £16,000. The other two paid employees are fellow co-director Shauna Nep, who receives a £73,891 salary and strategic advisor Michael Stein, who gets a salary of £111,333.
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Archewell said it was not unusual for high-profile foundations to receive a significant influx of funding in its first year to be used over several years as part of a financial plan to build its philanthropic work. It said: "It is most fiscally responsible not to continue to raise large sums of money with millions still in reserve.
"In 2022, (The Archewell Foundation) focused on building out original programming that successfully launched in 2023." It added: "The Archewell Foundation is grateful for such a successful year and looks forward to continued growth in 2024."
The accounts come as Harry and Meghan have released brand new slick behind-the-scenes footage of their post-royal charity work - just hours after the Princess of Wales shared a film of her taking her children to a baby bank.
The Sussexes' one-minute clip shows the work over the last year from their Archewell Foundation, which was set up after they stepped down from their royal roles. It accompanies a 28-page report detailing the causes that it has helped over the past year. The glossy footage then shows the charitable projects that Archewell has supported as well as events that Harry and Meghan themselves have attended.
In one clip, Meghan can be seen embracing military families while in another both Harry and Meghan can be seen making surprise calls to young grant winners. There are also clips of the Sussexes visiting a Brooklyn school as well as Meghan packing gift bags for a charity that supports expectant mothers.
It is believed the footage may raise eyebrows in royal circles given it was released so soon after a video yesterday showing Kate, Prince George, Princess Charlotte and Prince Louis volunteering at a baby bank near their home in Windsor. The Archewell video comes alongside a report, which was published on the Archewell site that states: "We are committed to a simple but profound mission: Show Up, Do Good."
Meanwhile the report, details the charitable projects that have been supported by Archewell, which include assisting Afghan women refugees and highlighting the importance of online safety. However, it does not contain any accounts or figures on how much exactly has been donated to charities and organisations.