According to the “delinquency notice” sent by California’s attorney general, Prince Harry and Meghan’s charity, The Archewell Foundation, could face suspension due to late tax returns.
The Archewell Foundation of the Duke and Duchess of Sussex has been informed that it may face fines or have its listing on the charity register revoked.
According to the “delinquency notice” that California’s attorney general sent on May 3, Archewell failed to timely file its 2022 tax return and associated fees.
It says this: “The above captioned entity is listed as delinquent with the Registry of Charities and Fundraisers for failing to submit required annual report(s) and/or renewal fees.
“An organisation that is listed as delinquent is not in good standing and is prohibited from engaging in conduct for which registration is required, including soliciting or disbursing charitable funds.”
The Telegraph has been informed that while Archewell submitted the necessary paperwork on schedule, the payment check that was supposed to be received never showed up.
The Sussexes team didn’t know the check was missing until it got the May 3 warning.
Last year, GreatGameIndia reported that Meghan and Prince Harry were reportedly fired by Spotify. The streaming platform and the Sussexes’ audio production company, Archewell Audio, released a joint statement announcing that Archetypes would not be renewed for a second season.
It anticipates that the issue will be resolved in a few days after sending another check.
It was requested that Archewell deliver all pertinent reports and fees “immediately” to prevent “further adverse actions.”
According to the notice from the California Department of Justice, “The organisation may also be subject to penalties and its registration may be suspended or revoked by the Registry. Once you submit the delinquent record(s), you will be notified of the amount of any late fees that are owed.”
Due to the terrible storms, flooding, and landslides that occurred during the previous winter, the Inland Revenue Service extended the deadline for filing taxes for the majority of people and businesses situated in California to mid-November of that year.
According to Archewell’s 2021 filing, which was submitted in February of last year, the Duke and Duchess raised $13 million (£10.3 million) from affluent donors and $4,500 from the general public as start-up funds.
$10 million, the lion’s share of its revenue, comes from a single contributor. According to the document, Archewell had awarded donations totaling $3 million.
A 2022 tax return was submitted online last year and made public. According to the paper, Archewell’s revenue was a little over $2 million, while donations fell by $11 million from the previous year.
According to the tax return, the foundation had a $674,00 deficit in 2022 because it spent more money than it took in. It did, however, still have about $8.5 million in assets.
With five employees and a total annual salary of $640,441, Archewell was a profitable company. Meghan and Harry did not accept a wage.
