Archewell tax returns show Harry and Meghan worked an hour a week in 2021
Prince Harry and Meghan Markle’s foundation issued $3 million in grants in 2021, raising $13 million from wealthy benefactors and $4,500 in public donations, tax records show.
The humanitarian charity has released its latest tax return, which shows that it was mainly supported by two wealthy philanthropists, who together contributed $13 million while raising a meager $4,470 from the public.
Overall, Archewell received a total of $13,005,660 – with $10 million coming from a single donor, DailyMail.com first reported, $3 million from another, and $4,470 from other “contributions and grants.” . The remaining $1,190 came from “investment income,” DailyMail.com documents show.
The Archewell Foundation’s 2021 tax returns show it was primarily supported by two philanthropists, whose contributions make up the majority of the charity’s $13 million in revenue
In total, the charity raised $13,005,660 — $13 million from two donations, $4,470 from other “Contributions and Grants,” and $1,190 from “Investment Income.”
This has led to speculation that the larger donation was made by Oprah Winfrey in return for the Duke and Duchess of Sussex’s March 2021 interview that rocked Buckingham Palace, and the other $3 million by Harry himself as part the $20 million advance he received for his controversial autobiography Spare.
Archewell paid out $3,096,319 in grants — or 24 percent of his income — for 2021, tax returns show
The charity distributed $3,096,319 in grants, representing 24 percent of its income, and had $9,018,590 in reserves at the end of 2021.
The document also reveals that Harry and Meghan worked an hour a week at the foundation, making 52 hours a year.
This compares to a week of full-time work, which raises questions about how the couple spent their time when Archewell was reportedly their main focus.
According to the filings, the charity spent $163,085 on salaries.
While Harry and Meghan don’t earn a salary, CEO James Holt also works an hour a week and receives a salary of $59,846 and $3,832 in other benefits, meaning he makes $1,224 an hour.
There are two other salaries on the tax return – $40,867 for “Program Services” and $22,811 for “Administrative and General Expenses.”
Two unidentified wealthy donors combined donated $13 million to Harry and Meghan’s Archewell Foundation, accounting for approximately 99% of the charity’s total revenue for 2021
The Sussexes launched Archewell in April 2020 after filing for trademark registration a month earlier
This suggests that the charity has three paid employees, one of whom is the CEO, another runs programs, and an administrative assistant.
Since 2018, 16 employees have left the Archewell brand, which is a mix of not-for-profit and for-profit companies including Archewell Productions and Archewell Audio.
Other return shipping expenses total $727,666, including $427,110 for legal fees, $69,042 for conferences, conventions and meetings, and $12,096 for travel.
It awarded more than $3 million in grants to 25 U.S. institutions or NGOs and $186,319 to three European causes.
Tax Form 990 is a summary of all income, donations, and expenses for tax-exempt organizations.
Archewell’s 2021 tax return should have been filed with the IRS by May 15, 2022, but appeared on its website ten months after that deadline.
In 2020, Archewell was allowed to send in an abbreviated 990 form called an “ePostcard” because it had made less than $50,000 in revenue and had been in the US for less than a year.
The foundation released its impact report in January and said it helped pay for 12.66 million Covid-19 shots around the world while working with charity Global Citizen.
Money was also given to charities supporting refugees from Afghanistan and Ukraine.
A handout from Archewell shows Prince Harry taking part in a Q&A with San Francisco-based BetterUp, which provides coaching and mental health services to businesses and individuals in 2021
Archewell released its 2020-2022 impact report in late January, saying it has raised $13 million in revenue and distributed $3 million in grants to projects, including sourcing 12.66 million Covid-19 Splash around the world while partnering with an anti-poverty charity World Citizens
Harry and Meghan say in their filing that Archewell’s primary purpose is to “elevate and unite communities — local and global, online and offline — one act of compassion at a time.”
They add, “The Archewell Foundation believes that compassion is the defining cultural force of the 21st century, and through its work, the Archewell Foundation supports a growing community of partner organizations driving systemic cultural change.
“The Archewell Foundation listens to people and their communities, helps them tell their stories, puts real action behind their words and spotlights a new generation of leaders.”
Archewell, named after her 3-year-old son Archie, is also spending money on “building a better online world”.
It included cash donations to a foundation that provided an online guide “to advance gender equality by promoting positive masculinity in boys and men” and aimed to “combat harmful gender stereotypes”.
The Duchess has selected several projects herself. This includes a program in Antioch, Tennessee, where children can braid their hair for free. After attending the vigil for the Uvalde massacre in Texas, she also decided to build a play park for local children after seeing their “grief” firsthand.
Archewell says it will spend the next year working on “three main pillars” – building a better online world, restoring trust in information and empowering communities.
https://www.dailymail.co.uk/news/article-11916253/Archewell-tax-filings-Harry-Meghan-worked-one-hour-week-2021.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Archewell tax returns show Harry and Meghan worked an hour a week in 2021