CharityWatch is unable to provide a rating for Archewell Philanthropies (Archewell Foundation) based on its fiscal year ended 12/31/2024 due to an inability to obtain the organization's independent audited financial statements. For this reason, we have issued the charity a "?" rating, signifying nondisclosure of financial information and other specific concerns. Per the Organization's IRS Form 990, Part XII, 2b, the Organization responded "Yes" to the question: "Were the organization's financial statements audited by an independent accountant?" Despite reaching out to the Organization by mail on January 6, 2026, we have not received a response as of the date of this note, January 20, 2026. CharityWatch had previously reached out to Archewell Foundation via U.S. mail on 1/22/2024 and 12/6/2024 requesting a copy of the organization's audited financial statements. We similarly did not receive a response from the organization to those inquiries. According to its fiscal 2024 IRS Form 990, the Organization reported raising $2,142,653 in cash contributions and spending $5,105,228 in total cash expenses that year. In its prior fiscal year 2023 reporting, the Organization reported raising $5,336,780 in total cash contributions and spending $3,299,948 in total cash expenses, according to its IRS Form 990 of the same year. The Organization reports that it formed in 2020, according to its IRS tax Form 990. Also, according to Form 990 reporting, it raised approximately $22.5 million in contributions during the four-year period 2021 through 2024, which averages to approximately $5.6 million annually (IRS Form 990, Schedule A, Part II, Section A). However, this average is skewed due the charity having received $13,004,470 in 2021, and a total of $9,480,344 during 2022-2024. This initial influx of contributions was not due to receiving large grants from a few sources in its first year of operations as compared to its second. In fact, the opposite is true. According to the Organization's fiscal 2022 IRS Form 990 (Schedule A, Part II, Section A), the Organization reports that it collected $15,005,381 in "Gifts, grants, contributions, and membership fees received" during its first two years of operations. Of this amount, the "total contributions by each person (other than a governmental unit or publicly supported organization)...that exceeds 2%" per donor is reported as being only $3,699,786. Meaning, over its first two years of operations, the Organization collected the vast majority of its contributions in the form of smaller donations from many sources. Over 50% of this $3,699,786 amount was donated in fiscal 2022, its second year of operations, according to the charity’s tax filing (IRS Form 990, Schedule B), which reports that Archewell Philanthropies received $1 million each that year from two different donors. If Archewell Philanthropies chooses to provide audited financial statements to CharityWatch in the future, we may update our rating of the organization at that time. |
