Prince Harry and Meghan Markle’s charity Archewell is facing scrutiny over its tax returns.
Two grants totalling over $6million are missing from the organisation’s latest 990 form.
The grants, one of $6million from Fidelity Charitable and another of $10,050 from Tisbet Philanthropy, were made in the 2022/23 financial year.
However, Archewell’s most recent tax return only declared $2million in income. Leading to speculation regarding at least $4million worth of income.
The report on Archewell’s finances from the Mail comes at a challenging time for the Duke and Duchess of Sussex’s foundation, which recently faced issues with California charity officials.
Prince Harry and Meghan Markle’s charity Archewell is facing scrutiny over its tax returns.
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Archewell maintains that its records are correct. It’s possible the funds may appear on the next tax return.
The missing grants have raised questions about Archewell’s funding sources.
It’s possible that individual donors used Fidelity Charitable and Tisbet Philanthropy to make anonymous contributions, a practice previously seen with Archewell.
In 2021, an anonymous $10 million donation was made through the Silicon Valley Community Foundation.
The timing of the grants, spanning late 2022 and early 2023, suggests they could be split across two financial years. This could explain their absence from the latest tax return.
The missing grants have raised questions about Archewell’s funding sources.
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Archewell’s next tax return, due on November 15 2024, should show the millions of pounds in grants and clarify the charity’s financial situation.
The situation has fuelled speculation that the charity relies heavily on a small number of wealthy donors.
Archewell’s recent troubles with California charity officials have added to the scrutiny.
In May, the Registry of Charities and Fundraisers, part of the state’s Department of Justice, declared the charity ‘delinquent’ and ‘not in good standing’.
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Archewell’s recent troubles with California charity officials have added to the scrutiny.
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The foundation was temporarily banned from fundraising or distributing charitable funds.
Sussex sources offered conflicting explanations for the issue. Initially, they claimed a $200 cheque had gone missing in the post.
Later, they suggested the Attorney General’s office had failed to process the cheque.
By mid-May, Archewell had regained its active charity status. However, the incident has raised concerns about the foundation’s administrative practices.