According to the documents, the foundation brought in roughly £1.96 million in revenue but spent about £3.8 million over the same period, resulting in a shortfall of approximately £1.9 million.
Following a recent rebrand, the organization recorded around £1.6 million in donations, distributed close to £940,000 in grants, and held net assets of about £6.2 million. Archewell’s annual informational filing, known as a Form 990, was made public on Friday.
The paperwork also revealed that “revenue less expenses” totaled negative £1.8 million (around $2.5 million), a sharp contrast to the previous year, when the charity reported a positive figure of about £1.8 million (roughly $2.4 million).
Responding to the figures, a spokesperson for the Duke and Duchess of Sussex said the spending was deliberate, explaining that year-to-year changes are normal and responsible in philanthropic work.
They noted that the deficit followed a period focused on fundraising and building reserves, with funds later allocated to long-term projects and commitments.
“The $2.5 million difference simply reflects the Foundation drawing on existing reserves to create impact, rather than holding on to unused funds,” the spokesperson said. “This was a purposeful, mission-aligned choice to maximize the social return from past fundraising.”
The spokesperson added that the foundation did not actually lose money but instead used previously raised funds for their intended purposes, emphasizing that Archewell raises money for specific initiatives and releases those funds as projects reach key implementation stages.
The documents also revealed that, after rebranding under the name Archewell Philanthropies, the organization will be laying off three staff members.
