Prince Harry and Meghan Markle have been defended over claims that $4million was missing from the organisation’s most recent tax return.
However, this has been rubbished by sources close to the Duke and Duchess of Sussex.
The Mail claimed that 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.
Prince Harry and Meghan Markle have been defended over claims that $4million was missing from the organisation’s most recent tax return.
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Archewell’s most recent tax return only declared $2million in income.
The organisation maintains that its records are correct and that the funds will appear in the next tax return.
A source close to the Sussexes told the Express regarding the Mail report: “It’s so unfair to do this to a charity when they have done everything correctly.
“The claims are ludicrous because they [the Sussexes] have always been upfront and transparent about their finances.”
The claim has been rubbished by sources close to the Duke and Duchess of Sussex.
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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.
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.
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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By mid-May, Archewell had regained its active charity status.
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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.