Prince Harry Accused of Being the Mysterious Donor Who Donated $10M To Meghan Markle’s Non-Profit Organization To Keep it Afloat, Saving a Fortune on Taxes
Ever since the royal marriage happened between Prince Harry and Meghan Markle, the Royal couple has been in the news. Further, stepping down from the Royal position and moving to the US are a few of the big steps taken by the couple. Recently, Prince Harry released his book, Spare, detailing his life as a royal member, who was bred to be an organ donor for his brother William. Amid the chaos and constant headlines, the couple received an anonymous donation of $10 million to their nonprofit organization, Archewell Foundation.
According to DailyMail’s investigation team, the amount that has been donated anonymously to the organization totals 77% of the couple’s income. A subtle connection between tax hiding and donation is gently trodden upon by the news outlet. The bombshell news report about donations has become a hot topic.
Also read: “I’m scared, for my life and for my children”: Meghan Markle Desperate to Get Sympathy From Mothers
The backstory of Archewell Foundation
Founded in October 2020, by Meghan Markle and Prince Harry, the Archewell Foundation was named after their son Archie. It is a nonprofit charitable organization aiming towards making an impact in the world with its philanthropic deeds. Since the inception of the foundation, it has been growing at a steady pace and helping people with aid.
At the end of January, a 2020-2022 report was released by Archewell Foundation that gave an idea to the people of how they started off relatively small, compared to now. The report showed the foundation could raise a bare minimum of $50k, during its initial years. It was so less, the Royal couple didn’t even have to file a full tax return. But then the foundation witnessed massive growth in the next year when they raised $13M in revenue and donated $3M in grants for different philanthropic aids.
What raises the real question is, how did the foundation come up with $13M in revenue?
Anonymous $10M donation to Meghan Markle’s Archewell Foundation
DailyMail took the initiative of digging deeper into the mysterious rise in revenue from $50k to $13M. The news outlet investigated to find out that the foundation received a mysterious donation from one individual through the Silicon Valley Community Foundation. The SVCF is known for its way of providing scope to wealthy philanthropists to give out tax-free grants anonymously.
As per the investigation of the outlet, SVCF allows a person to set up Donor Advised Fund, which helps them to direct their money as a “gift qualifying for an immediate tax deduction” towards the recipient. This provides DailyMail the benefit of the doubt, that the donor is single-handedly trying to keep Archewell afloat.
The peculiarity of the donation makes people scratch their heads, for it wasn’t designed for any particular project. Instead, the $10M grant was listed under “general nonprofit support” on the website. Meaning, Archewell have full control over the money and can use it in any way they like. It can be used for their office expenses or it can also be used for donations purposes.
People have come up with the biggest theory, that the donation is from Prince Harry himself. He is the one who donated a $10M grant from the $20M he received upon the massive success of his book Spare. If the speculation feels too direct, one can also guess Oprah Winfrey. She might have felt inclined to help, especially after the Royal couple faced a defamation trial based on her bombshell 2021 interview.
Source: DailyMail
