The top boss at Prince Harry and Meghan Markle’s Archewell Foundation has been given a £16k bonus on top of a six figure salary despite the Foundation recording losses.
Archewell Foundation has released their public disclosure of their accounts for 2022 which shows a gloomy prognosis on how their charity is performing.
The report shows that the organisation awarded James Holt – who is listed as the “executive director/president” of the charity – as being awarded £15,645 on top of his annual pay of £277,405.
The report says the extra money is the “estimated amount of other compensation from the organization and related organizations.”
It also states the earnings of its other four role holders – two of which include Prince Harry and Meghan Markle.
Michael Dale Stein – who is the organisation’s senior strategic advisor – earned £140,116 in 2022 and was given £5185 extra.
Co-executive director, treasurer and secretary Shauna Nep earned £92,994 in 2022 and was given an extra £2,533.
In 2021 the foundation received just over £10.3million ($13million) in donations from several donors, but this year the couple had only two donors that gave just a fraction of last year’s total.
The detailed financial documents show that just two donors donated £795,210 ($1million) each – a significant drop of over £8.7million ($11million) in a year.
Harry and Meghan’s Foundation also recorded a loss of £536,357 ($674,485) due to the shortfall in donations. Last year they secured a profit of more than £7.1million ($9million).
Accounts show that Archewell’s total revenue for this year totalled £1,594,437 ($2,005,052) taking into account donations and income from investments) but expenses came to more than this – at a grand total of £2,130,795 ($2,679,537).
The document also reveals that the couple use their royal titles, as the description reads: “Archewell Foundation is an impact-driven nonprofit created by the Duke and Duchess of Sussex.”
Alongside the 2022-23 Impact Report it released a one-minute video highlighting key events from the year.
The video shows the couple chatting with organisation and people they have helped and showcases a number of Archewell events.
