Harry and Meghan’s missing millions: Archewell Foundation failed to declare $4 million on latest tax return – as all eyes turn to Sussexes’ upcoming statement with questions about where the money went
Archewell, Prince Harry and Meghan Markle’s charity, received two grants worth more than $6 million in the past two years, but both are missing from the charity’s latest 990 tax return, MailOnline can reveal.
The discovery has sparked speculation about what happened to the Sussexes’ missing millions, although it is understood Archewell believes his records showing just $2,000,911 are correct and MailOnline can confirm it is legal and that the money may appear on the next refund.
The apparent discrepancy couldn’t have come at a worse time for the Duke and Duchess’ beleaguered foundation, as it was only given the green light to spend and raise money again earlier this year after charity officials branded the foundation as ‘delinquent ‘ and ‘not in good condition’. to stand’.
Now, Archewell may face another tense few months as the Internal Revenue Service (IRS) awaits the charity’s next tax return — which could explain the “missing” millions donated to the couple’s foundation.
Still, this latest revelation will add to speculation that Meghan and Harry’s charity is backed by a handful of wealthy donors.
Prince Harry and Meghan Markle’s charity Archewell received two grants worth more than $6 million in the past two years – but both are missing from the charity’s latest tax returns, MailOnline can reveal
The last two awards took place in the 2022/23 financial year. One totaling $6 million came from Fidelity Charitable (pictured)
Another amount worth $10,050 was from Tisbest Philanthropy (pictured), as both revealed their 990 forms
However, Harry and Meghan’s Archewell Foundation has declared only $2,000,911 in grants in 2022
It could mean more trouble for Archewell, who was briefly labeled a ‘delinquent’ earlier this year
The two latest donations were made in the 2022/23 financial year – one totaling $6 million from Fidelity Charitable and another of $10,050 from Tisbest Philanthropy, both revealing their 990 forms.
Presumably, individual donors could have used the companies to donate the money anonymously, as was previously the case with large donations to Archewell.
In 2021, an anonymous donation of $10 million was made through the Silicon Valley Community Foundation, a mega-wealthy nonprofit and a vehicle for extremely wealthy philanthropists to anonymously provide tax-free grants.
In 2022, Archewell said it received just two grants of $1 million each from anonymous donors.
Fidelity Charitable could have been the vessel used by one or both donors.
Both Fidelity and Tisbest declare subsidies made in the second half of 2022 and the first half of 2023.
This latest revelation will add to speculation that Meghan and Harry’s charity is backed by a handful of wealthy donors
It was revealed that Archewell had received a $10 million grant from another mysterious donor through the Silicon Valley Community Foundation (pictured)
It means that Fidelity’s $6 million could have been spread over two years and appeared as two separate donations to Archewell, while it was just one to Fidelity.
The same could be the case for Tisbest’s money.
Still, all eyes will be on Archewell’s next return on November 15, 2024.
Archewell bosses hope the problems with charity officers at the Registry of Charities and Fundraisers will not recur.
The registry is part of the Department of Justice in California, the state where the Duke and Duchess of Sussex live in a $12 million mansion and operate the charity.
In May, it said Archewell had failed to properly file its annual report or renewal fees and had banned the company from soliciting or distributing charitable funds.
Sussex sources claimed that the “delinquency notice” was actually issued because Attorney General Rob Bonta’s office failed to process a $200 check.
That was a different statement from the same Sussex sources the night before, who claimed the paperwork had been submitted on time, but the discrepancy was due to a check accompanying the documents going missing in the mail.
Sussex sources previously told MailOnline that the Archewell Foundation’s 2022 tax returns have been filed in full compliance with all US regulations.
In mid-May, the attorney general’s office confirmed that Archwell had regained its active charity status, but alarm bells will ring if the charity gets into trouble again.