Prince Harry and Meghan Markle’s Archewell Foundation, now rebranded as Archewell Philanthropies, has reported a significant rise in expenses alongside a sharp drop in donations and grants in 2024, according to newly released figures.
The charity also confirmed the departure of three staff members amid a restructuring effort.
Expenses Soar While Contributions Drop
The charity’s 990 form, filed with the IRS and made public on Friday, shows total expenses reached $5.1 million, up 54 percent from $3.3 million the previous year.
Meanwhile, donations and grants fell dramatically to $2.1 million from $5.3 million in 2023.
Grants issued by Archewell totaled $1.25 million during the year.
The increase in costs may be partly linked to the couple’s high-profile trips to Nigeria and Colombia.
“Other expenses” rose from $1 million to $2.9 million, while salaries totaled $913,000.
The organization recorded a deficit of $2.5 million, a stark contrast to the prior year’s surplus of $2.4 million.
Net assets now stand at $8.2 million, down from $10.7 million.
Staff Reductions Amid Restructuring
Three employees, including Kristen Slevin, the director of programs and operations, were recently let go as Archewell reorganizes under its new name.
Slevin had been on a salary of $146,000.
A spokesperson confirmed that redundancies, particularly in junior administrative roles, were unavoidable as the charity shifted focus, though they emphasized ongoing respect for staff contributions.
Remaining staff include Harry’s longtime advisor James Holt and charity professional Shauna Nep, known for her work with Hailey Bieber and Scooter Braun.
Leadership and Daily Involvement
Harry and Meghan remain directors of the foundation but do not take a salary and reportedly contribute an average of just one hour per week to operations.
Founded in 2020, Archewell is named in part after their son Archie, and its mission emphasizes action and meaningful impact in areas like mental health, responsible technology, and community wellbeing.
Shift to Archewell Philanthropies
The rebranding to Archewell Philanthropies accompanies a new operational model: acting as a fiscal sponsor to streamline administration and allow greater flexibility in global philanthropic efforts.
The couple has stated that the organization will remain fully charitable, IRS-compliant, and tax-deductible, focusing on long-term impact rather than day-to-day operations.
Recent Activities and Fundraising
In 2024, Archewell granted $50,000 to refurbish basketball courts in Nigeria and hosted various charitable events, including a session with Our Big Kitchen Los Angeles to help food-insecure community members.
The charity has also auctioned personal access to the Duke and Duchess through platforms like CharityBuzz, raising funds through gala dinners and high-profile events.
Transparency, Challenges, and Legacy
Despite its global profile, Archewell has faced scrutiny for its initial modest fundraising and comparisons to smaller local charities.
The IRS filings underscore the foundation’s legal obligation to direct funds toward existing charities and projects rather than launching its own ventures.
Moving Forward
The Sussexes continue to advocate for causes close to their mission, from mental health to social responsibility online.
As Archewell Philanthropies enters this new chapter, the organization aims to maintain impact while navigating operational and financial challenges, balancing its global ambitions with a leaner, more focused structure.
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