Prince Harry and Meghan Markle’s Archewell Foundation has made quite an impact in their first year, outdoing both the Obama and Clinton foundations. According to data released on the foundation’s website, the organization generated $13,005,600 in revenue while spending $3,987,070.
This is a huge achievement, considering that the Obama Foundation raised $5.5 million and spent $1.9 million in their first year, while the Clinton Foundation raised $10 million and spent $2.9 million.
The Archewell Foundation has already awarded $3,096,319 in grants to over 40 organizations, focusing on key areas such as vaccine equity, relief centers, refugee resettlement, and building a better online world.
Additionally, they’ve spent $520,826 to deliver programs and campaigns that align with their priorities, including vaccine equity and conservation.
Archewell gives 80% of its expenses to charity
The foundation follows the standard practice for organizations of its size, with a 90/10 ratio of program services to administrative expenses. This ensures that 80 percent of total expenses go towards their programs, while 20 percent or less is spent on administrative costs.
Through their foundation, they have provided 12.66 million COVID-19 vaccines, helped resettle 174,497 refugees, served 50,000 meals to the hungry, and rescued 7,468 individuals from Afghanistan.
They have also supported academic fellows, created a guide on positive masculinity, and built a play space in Texas after a tragic school shooting.
Co-Executive Directors of The Archewell Foundation, James Holt, and Shauna Nep expressed their gratitude for the experience they’ve had over the past two years. “It has been rich with learning, growth, inspiration, and action. We’ve made new partnerships and strengthened existing ones,” they said.
The Archewell Foundation’s commitment to building a better world online is particularly noteworthy. The organization aims to work to restore trust in information and uplift communities both online and offline, locally and globally.