Archewell, the U.S. charity launched by Britain's Prince Harry and wife Meghan Markle, reported raising less than $50,000 in 2020, while spending $56,000 in legal fees to dissolve their nonprofit organization United Kingdom Sussex Royal, according to documents obtained by the Daily Mail.
The couple were no longer able to brand themselves as ''royal'' after stepping away from their duties to the family in 2020.
The couple founded the charity in April 2020 and set up a bank account in January 2021, according to the documents.
The organization, consisting of the Archewell Foundation, Archewell Audio and Archewell Productions, seeks to ''unleash the power of compassion to drive systemic cultural change'' with the work of the foundation as well as the ''creative activations through the business verticals of audio and production,'' the charity's website said.
The charity, with a registered location in Beverly Hills, California, was required to file a Form 990-N with the state for nonprofits that earn less than $50,000 per year, which shows limited information.
According to the Daily Mail, the couple incorporated the entity in Delaware, which has more favorable corporation laws than other states, as well as less transparency.
One of Archewell's recent endeavors was a report on misinformation released in November.
''Today, Prince Harry, The Duke of Sussex — co-founder of Archewell — joined a group of his colleagues who have been working together for more than half a year to release an ambitious report on tackling the growing mis- and disinformation problem in technology, media, and social media,'' the organization said in a Nov. 15 press release announcing the report's release.
''As the culmination of the Aspen Commission on Information Disorder, which began its work in spring of 2021, the group has outlined a list of 15 specific recommendations for leaders to consider adopting across the public, private, and non-profit sectors.''
The recommendations in the report included a call for more social media transparency and disclosure, proposing new guidelines for social media platform immunity, reversing the collapse of local journalism and the eroding trust of the media, ''accountability'' for those ''superspreaders'' of misinformation online, and opening a community dialogue and ''resisting'' the imbalances of information power.
On the for-profit side, the couple are partnering with the Ethic financial firm to address issues of climate change, gender equity, health, racial justice, human rights and strengthening democracy by investing in the company, according to that organization.
''They're deeply committed to helping address the defining issues of our time — such as climate, gender equity, health, racial justice, human rights, and strengthening democracy — and understand that these issues are inherently interconnected,'' the company said in a statement. ''So much so, in fact, that they became investors in Ethic earlier this year and have investments managed by Ethic as well.''
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