Archewell has made loss of £500k

[Viviennemary]

I don't quite get how those foundations work. But can't be great that It's made a loss of more than half a million pounds. Article about it in the Daily Mail.

Working 1 hour a week what do you expect. You get out what you put in and the grifters have put fa in.

No surprise there.

I think they've released their little video today to try and distract from these pitiful numbers.

I'm sure they've paid a lot of wages out of the contributions 🤔

The donations and expenses are bad and the foundation spent more than it brought in this year but the account is still in the black as it had reserves. It’s not uncommon for foundation to spend more in one year than it brought in and vice versa. There are better headlines the mail could of gone for

The foundation director got paid about £200k. Nice work if you can get it.

Same as the Royal Foundation in 2022, Income 10 mil, expenditure 14 mil. Its very normal for foundations like this.

I'm quite interested in the discrepancy in the reserves amount.

IIRC it was £10m last year and now stands at £6m.

Where's that £4m gone?

the director of the Obama foundation gets paid $700,000, haven't been able to find the figures for The Royal Foundation.

https://archewell.com/wp-content/uploads/2023/12/the-archewell-foundation-2022-public-disclosure.pdf

the figures seem right

The Obama foundation is a different beast all together. The salary is not what stands out as much as the percentage of staffing costs to donations. Especially at the infancy stage when archewell mostly piggy back on already established charities, which in itself is not a bad thing and a good way to become established, but not requiring this amount of outlay.

I think that too. But one of those commentators said they released the video to compete with Kate's visit to the baby charity. On this occasion I dont think that's right. It was to do with the release of the figures. The video was totally cringeworthy.

@Cakester maybe so, but the Obama foundation has a revenue of hundreds of millions.

oh of course their director would be paid more, and that pay probably didn't;t start that high but grew as their foundation did.

Absolutely normal for a charity to make a loss or break even. Sometimes funders actually prefer this. It’s not a profit making business.

Please you can’t compare this Foundation with the Obama Foundation! Totally different organisations and structures.
nearly no non profit CEOs in the Uk earn over 150k, I would be surprised if the CEO of the Royal Foundation does. Non profit salaries are completely different in the US, rhe head of a multi billion dollar foundation can earn a million per year.

Well its three times the Director of Archewell, so its not a comparison its an indication of the types of salary for that kind of role in the country this foundation exists in.

Staff costs for The Royal foundation in 2022 were £3.2 million total, 21% of total expenditure, they do outsource to contractors and work with partner organisations 'to manage capacity as required'. They give no sum for their Director.

Seriously just read the report on the charity commission website. Takes 2 mins to find. Royal Foundation highest paid staff members in 2022 were paid between £100k-110. And why these comparisons??
they are completely different orgs with different missions and the market is different in the US too.

That’s like comparing the salary of the CEO of a small tech start up to the salary of Microsoft’s CEO. Same country, same position, same industry and still two completely different organisations.

But as she said - it shows the range in the US.

Here it is a more defined pay structure.

It's a charity, presumably it was spent.

Ive sat on charity boards. You want some cash in reserve but equally you don't want a bunch of money sitting around. It was donated/gifted/granted to be put to work and create outcomes. It shouldn't sit idle for no reason. It's also a risk to have a large sum of money sitting idle.

It’s difficult to compare salaries, not only in size but in function such as with or without fund raising arm of the business. Archewell current platform is very few private donors or maybe themselves which is a completely different job description than a foundation/charity who deal with promotion, fundraising, events, when a sales background is required, and the ability to bring in donations and still achieve good costs to rewards percentage. If you could donate to Archewell I would be unlikely to donate to a foundation who’ll absorb over a third if not a half, to decide to pass to another charity for it to absorb their costs.

That's actually one of the best descriptions I've seen of their efforts - yes they "piggyback" on already established charities.

A spokesperson said it would be 'fiscally responsible not to continue to raise large sums of money with millions still in reserve'.

https://www.telegraph.co.uk/royal-family/2023/12/12/prince-harry-and-meghans-make-11m-less/

That's such weird logic... why don't they use the money they have for charitable purposes whilst also fundraising? It's like they don't want to do any of the actual work involved in running this kind of organisation, which normally consists of both of those things. It was started up in a blaze of glory and now they're bored of it perhaps?