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Prince William’s charity, the Earthshot Prize, has achieved remarkable success by raising an impressive £22.5 million in its first nine months, signaling robust financial support from various quarters. The Earthshot Prize, initiated by Prince William in 2019, is dedicated to recognizing individuals and organizations that devise solutions to some of the world’s most pressing environmental challenges.

Initially administered by the Royal Foundation, established in 2009 by Prince William and Prince Harry to further their charitable causes, the Earthshot Prize transitioned into a separate charity in 2022. The new charity, retaining the name Earthshot Prize, demonstrated its financial prowess, with £22.5 million in income during the initial nine months of operation, as reported by The Mail Online.

While the Royal Foundation transferred £8.6 million to the Earthshot Prize, the remaining funds were sourced from various channels, according to the Charity Commission’s published accounts. Donations played a significant role, contributing £7 million, while “gifts in kind” amounted to just over £3 million. Additionally, a grant from the American Friends of the Royal Foundation added another £2.7 million to the charity’s financial pool. The remaining five percent, equivalent to £1.1 million, was derived from sponsorship and licensing income.

In contrast, the financial performance of Prince Harry and Meghan Markle’s Archewell Foundation saw a decline in revenue last year. According to figures published by US tax authorities just before Christmas, Archewell’s donations experienced a significant drop of £8.7 million, decreasing from £10.3 million to just under £1.6 million within a year. This downturn resulted in Archewell incurring a loss of £535,000 for 2022, given that the foundation had expenses totaling £2.1 million.

The divergent financial trajectories of these charitable foundations highlight the varying degrees of success in fundraising efforts. While the Earthshot Prize thrived with substantial support from donations, gifts, grants, and other sources, Archewell faced financial challenges leading to a significant drop in revenue and a subsequent loss for the year. The financial dynamics of these foundations underscore the importance of effective fundraising strategies and financial management in the philanthropic sector.

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