Newly released financial documents have revealed a significant shift in the fiscal health of the Duke and Duchess of Sussex's charitable organisation. The Archewell Foundation, which has just been rebranded as Archewell Philanthropies, recorded unprecedented expenses of $5.1 million in 2024, a sharp 54% increase from the $3.3 million spent the previous year.
Financial Figures Show a Dramatic Turn
According to the annual 990 form filed with the US Internal Revenue Service (IRS) and made public on Friday, the picture for the Sussexes' foundation has changed markedly. While expenses surged, the revenue from contributions and grants plummeted to $2.1 million, down dramatically from $5.3 million in 2023.
This imbalance resulted in the charity recording a deficit of $2.5 million for the year, a stark reversal from the previous year's positive balance of $2.4 million. The organisation's net assets now stand at $8.2 million, reduced from $10.7 million.
The filings detail that salaries cost $913,000, while a category listed as 'other expenses' ballooned to $2.9 million from $1 million. A significant portion of the increased expenditure is believed to be linked to the couple's high-profile, quasi-royal tours to Nigeria in May and Colombia in August of 2024.
Staff Redundancies Amid Rebranding
Concurrent with the release of these figures, it has emerged that three members of staff at the foundation are being made redundant as part of a 'restructuring' under its new name, Archewell Philanthropies. The staff, informed just over a week ago, include Kristen Slevin, the director of programs and operations, who was on a salary of $146,000.
This news followed repeated denials from the Sussexes' office last week regarding any staffing changes. A spokesperson for the couple later stated, "Currently, the same full team remain in place," but acknowledged that "some staff redundancies are inevitable." They confirmed the organisation would not discuss personnel details further.
The remaining team includes Prince Harry's long-time advisor James Holt and charity professional Shauna Nep. The Duke and Duchess serve as directors of the charity but do not draw a salary, with the form suggesting they contribute an average of one hour per week to its operations.
A New Model for Philanthropy
The rebrand to Archewell Philanthropies signals a change in operating model. The organisation will now act as a 'fiscal sponsor', processing donations for other projects. Sources indicate this move is designed to streamline administration and offer greater flexibility to expand their global charitable work, focusing more on impact than day-to-day operations.
Founded in 2020, the foundation remains dedicated to its core causes: mental health, responsible technology, and community wellbeing. Its recent activities include a $50,000 grant to refurbish basketball courts in Nigeria and advocacy on issues of online harm.
The financial revelations come as the couple released a festive 'Happy Holidays' video featuring their children, Archie and Lilibet, and announced the charity's new direction, aiming to put recent turbulence behind them and refocus on their philanthropic mission.
