Meghan Markle, Prince Harry break silence on charity funding loss

Prince Harry and Meghan Markle pushed back against recent reports suggesting the Archewell Foundation is nearing bankruptcy in the wake of huge financial loss.

Speaking to TMZ, sources with direct knowledge reflected on the organization’s impact report for 2022-2023 which revealed a £8.7m drop in revenue.

It's ‘misleading,’ they noted that the report “doesn’t take into account the organization is not a corporation.”

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The insider went on to explain that the Sussexes finished the year with over £6.3m ($8m) in the bank, reassuring that the foundation is in “good financial health” despite the loss of £535,000.

According to the Daily Express, the financial documents of Archewell unveiled a donation of only £795,210 ($1million) from two donors each, only a fraction of their 2021 total.

They summed up their donations for the year 2021 to around £10.3million ($13million), which is £8.7million ($11million) more than last year.

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They also recorded a loss of £536,357 ($674,485) due to a deficit in donations.

The Duke and Duchess of Sussex founded the Archewell Foundation in 2020, only months after they stepped down from their royal positions.

According to the website, the non-profit organization caters to combating online bullying, “restore trust in information,” and “uplift communities.”