Harry and Meghan raised less than $50,000 for Archewell in its first year

New documents have revealed that Prince Harry and Meghan Markle were only able to raise $50,000 for their charitable foundation Archewell in its first year, and spent more than that on dissolving their previous charity "Sussex Royal."

Charities in the United States are required to file a public "Form 990" with Internal Revenue Service (IRS) each year detailing their finances. However, those charities that receive less than $50,000 are required to only file a "postcard" with some very limited information.

As per documents obtained by Mail Online, Archewell told IRS in a filing in December last year that its gross receipts for the year 2020 were less than $50,000. The Sussexes' lawyers clarified that the charity was launched just a month after the couple quit as working royals in March 2020, but a bank account in its name was not opened until January 2021.

Meanwhile, UK Companies House filings show that the Sussexes spent more than $55,000 between June 2020 and June 2021 on legal fees including attorneys' costs to wrap up their UK charity. The Duke and the Duchess of Sussex reportedly wanted to retain their Sussex Royal charitable foundation after quitting as senior British royals, but were asked by Queen Elizabeth II to close the royal organisation and stop using the brand.

The couple changed Sussex Royal's name to MWX Foundation last year, and are currently in the process of dissolving it. As per UK Companies House filings, the defunct British charity had more than $380,000 in its accounts in 2020, of which at least $55,600 was spent on attorneys. Around $35,000 was transferred to Harbottle & Lewis while $20,600 was deposited to an unidentified law firm.

The couple's new charity made a lot of headlines when it was launched in April 2020, which is why the lack of donations is unexpected. Sources close to the duo had told the Telegraph last year that Archewell will currently focus on the coronavirus pandemic and the Black Lives Matter movement, and would begin its official projects only "when the time is right."