The Sussex Milkmen raised $2 million at this year's Archwell Fondation.

On Monday, Archewell released its Sustainability Report 2022-23, which shows the charities and NGOs that Archewell partners with. The Duke and Duchess of Sussex made a cool video with footage from their charity work. The Report seems to have been published at the same time as the BBC and others got their hands on Archewell's 990 tax report, effectively a public document (although I think the BBC requested it under the Freedom of Information Act). It turned out that Sussex had raised the salaries of staff at its Archewell fondation. Not only that, but they also got less money than last year. This is considered HUGE news in the UK.

Donations to the Archewell Foundation, the foundation of Prince Harry and Meghan Markle, have plummeted over the past year, with their charity only able to raise $2 million compared to the previous year's $13 million. The figures on the 990 form obtained by the BBC came out at the same time as their annual report and a short film highlighting their work over the past year. The fund recorded a loss of $674,485 on expenses of $2.67 million. About $1.2 million in grants have been awarded, including $100,000 for the Halo Trust, a mine-clearing charity made famous by Princess Diana. Reports show $8.5 million left in the fund at the end of 2022.

Sources close to the pair told the Daily Beast that "the numbers reflect a healthy fund" seeking "deliberate, gradual growth." The source said Archewell currently has more than $11 million dollars in his bank account and "plans to have millions of dollars in his bank account each year for philanthropic purposes." They added that "it is unusual for high profile foundations to receive a significant influx of funds in the first year, which are then used over several years as a financial blueprint for developing the charity's work.

It is widely believed that Harry and Meghan personally donated several million to the Archewell Foundation to launch it in its first year.

Executive director James Holt, who moved from London to California with the couple and is considered their most trusted assistant, increased his income from $59,846 to $227,405, according to a just-released tax report. [From Daily Beast]

Is it true that Sussex got some big grants from companies in the first year of Archewell? A 'source' seems to say so - Archewell had a lot of money in 2020/21 and they decided to use it over time rather than spend it all at once. Plus, you know Harry has put a chunk of his savings into Archewell and they are not actively fundraising. They don't organize stock events, and they don't mess with dubious despots to grab money in a bag (unlike Harry's father). My point is that they already have a healthy amount of foundation money and are clearly planning for what comes next and where to put their foundation money. I'm not scared, although I see that the Daily Mail considers this story a fifth-degree firestorm. I really wish the Mail, Telegraph and Daily Beast would devote such energy to finding out how the King's Fund spent £12.1 million on Earthshot when only £5 million went on prize money. It really should be a bigger story - £7.1 million just disappeared in the name of Earthshot.