Prince Harry and Meghan Markle, known for their philanthropic efforts, established the Archul Foundation in October 2020.
The foundation serves both as a non-profit charitable organization and a for-profit business catering to media entities like Artuel Audio and Actual Productions.
Since its inception post-Megxit, the Archul Foundation has amassed a substantial $13 million in funds.
However, recent revelations from a French newspaper, Envoy Special, shed light on potential discrepancies in the foundation's financial practices.
Envoy Special's analysis of the Archul Foundation's tax records unveiled intriguing insights.
The couple reported raising $13 million in donations, with a notable $2,250,000 disbursed to various charities through 22 checks.
Surprisingly, a significant portion, amounting to $1 million, was allocated towards operational expenses, leaving a substantial $9 million unutilized.
This surplus raises concerns about the foundation's commitment to its purported philanthropic mission.
Notably, this pattern of financial allocation is not new for Prince Harry and Meghan Markle.
During their tenure as working members of the royal family, they oversaw the Queen's Commonwealth Trust.
The Trust's 2019-2020 annual report revealed that out of £782,000 raised in donations, a staggering £705,000 was directed towards operational costs rather than charitable endeavors, highlighting a concerning trend of resource allocation.
The Archul Foundation's financial landscape further unravels with revelations of substantial donations received.
A single anonymous donor contributed a remarkable $10 million via the Silicon Valley Community Foundation (SVCF).
The SVCF, renowned for its philanthropic endeavors, distributed a record-breaking $2.7 billion in grants to numerous non-profit organizations in 2021.
Additionally, the foundation received $3 million from another undisclosed donor and $4,470 from public contributions.
Despite these significant donations, questions arise regarding the couple's level of involvement in the foundation's operations.
Tax returns indicate that Prince Harry and Meghan Markle dedicate just one hour per week to the charitable aspects of the foundation, a standard reporting practice for such entities.
In 2021, the foundation allocated $163,085 towards salaries, with the chief executive, James Holt, receiving $59,846 in salary and $3,832 in benefits for his weekly hour of work.
Further breakdown of the 2021 expenses reveals a comprehensive overview of the foundation's financial outlays.
Legal fees amounting to $110,000, conference expenses totaling around $69,000, and travel costs of $12,000 underscore the diverse nature of expenditures.
Notably, over $3 million was channeled towards grants benefiting 40 organizations, including initiatives focused on vaccine equity and refugee resettlement.
As Prince Harry and Meghan Markle transitioned away from their royal duties, scrutiny intensified regarding their commitment to the Archul Foundation.
Despite reportedly investing only one hour per week in 2021, the couple managed to raise $13 million from generous benefactors.
Their tax filing emphasized the foundation's core mission of fostering compassion and unity within communities, both locally and globally, through tangible actions and storytelling.
In conclusion, the Archul Foundation's financial disclosures have sparked debates about the efficacy of its charitable endeavors.
While the foundation has garnered substantial donations and outlined ambitious goals, questions persist about the optimal utilization of resources and the couple's level of engagement.
As Prince Harry and Meghan Markle navigate their philanthropic journey, transparency and accountability will remain paramount in upholding the foundation's mission of driving cultural change through compassion and community empowerment.
