The Archewell Foundation, established by Prince Harry and Meghan Markle, did not report $4 million on its latest tax return, raising questions about the foundation’s financial transparency. This omission has attracted attention as public scrutiny increases regarding the couple’s finances and how their charitable funds are utilized.
With their upcoming tax declaration expected, there are growing concerns over the whereabouts of the missing funds and how the foundation is managing its resources. The situation has sparked discussions about accountability and the impact of celebrity philanthropy on charitable organizations. As the Sussexes prepare to release further financial information, many are keen to see how they address these concerns.
Prince Harry and Meghan Markle’s charity, Archewell, reportedly received two grants totaling over $6 million in the past two years; however, these grants are not reflected in the charity’s latest IRS Form 990 tax return. This discrepancy has raised eyebrows and prompted inquiries into the foundation’s financial practices.
The missing funds have added to the scrutiny surrounding the couple’s philanthropic efforts and financial transparency. As public interest grows, many are questioning how Archewell is managing its resources and what implications this may have for their charitable initiatives.
The revelation regarding the missing millions has fueled speculation about the financial status of Prince Harry and Meghan Markle’s Archewell Foundation. While Archewell maintains that its reported income of $2,000,911 is accurate, it is understood that the money may appear in the charity’s next tax return.
This situation is particularly challenging for the Duke and Duchess, as their foundation had only recently regained approval to fundraise and spend after being labeled as “delinquent” and “not in good standing” earlier this year. As the Internal Revenue Service (IRS) awaits Archewell’s upcoming tax return, there are concerns about how the foundation’s finances are managed.
Additionally, this latest information has intensified speculation that Archewell relies heavily on a limited number of wealthy donors, raising questions about its overall sustainability and transparency.
The two recent grants to Prince Harry and Meghan Markle’s Archewell Foundation were made during the 2022/23 financial year, with one grant totaling $6 million from Fidelity Charitable and another of $10,050 from Tisbet Philanthropy, as revealed in their respective IRS Form 990 filings.
It’s possible that individual donors utilized these organizations to provide anonymous donations, similar to previous contributions to Archewell. Notably, in 2021, a significant anonymous donation of $10 million was made through the Silicon Valley Community Foundation, allowing wealthy philanthropists to give tax-free grants without revealing their identities.
In 2022, Archewell also reported receiving two grants of $1 million each from anonymous donors. Fidelity Charitable could potentially serve as a conduit for these or other anonymous contributions, as both Fidelity and Tisbet disclosed grants given between the second half of 2022 and the first half of 2023. This pattern raises further questions about the foundation’s funding sources and transparency.
This means that Fidelity Charitable’s $6 million grant to Archewell could have been distributed over two years, allowing it to be reported as two separate donations on Archewell’s tax filings while appearing as a single donation from Fidelity.
Similarly, the funds from Tisbet Philanthropy could follow the same pattern, potentially allowing for flexibility in how these contributions are recorded. This structure could explain the discrepancies in the reported amounts and the timeline of the donations, further complicating the narrative around Archewell’s financial transparency and the origins of its funding.
