According to data released on the foundation's website, in the first full year of operation, they reported an incredible $13,005,600 in revenue and spent a total of $3,987,070.
WATCH: Prince Archie is a mini foodie like Meghan Markle
The Obama Foundation raised $5.5million and spent $1.9million, while the Clinton Foundation raised $10million and spent $2.9million in their first years of operation, according to the respective foundation's reports.
With a passion for making a difference, Harry and Meghan's foundation has already awarded $3,096,319 in grants to over 40 organizations.
2022 was a very successful year for the former royal couple
These grants focus on key areas like vaccine equity, relief centers, refugee resettlement, and building a better online world.
They've also spent $520,826 to deliver programs and campaigns that align with their priorities, including vaccine equity and conservation.
The Archewell Foundation follows the standard practice for organizations of its size, with a 90/10 ratio of program services to administrative expenses.
This approach ensures that 80 percent of total expenses go towards their programs, while 20 percent or less is spent on administrative costs.
Archewell Foundation has outperformed Obama and Clinton's foundations
It's evident that Harry and Meghan are dedicated to making a lasting impact.
Through their foundation, they've provided 12.66 million COVID-19 vaccines, helped resettle 174,497 refugees, served 50,000 meals to the hungry, and rescued 7,468 individuals from Afghanistan.
Additionally, they've supported academic fellows, created a guide on positive masculinity, and built a play space in Texas after a tragic school shooting.
As we approach our third year at The Archewell Foundation, we reflect on the depth of the experience," James Holt and Shauna Nep, Co-Executive Directors of The Archewell Foundation, said. "It has been rich with learning, growth, inspiration, and action. We've made new partnerships and strengthened existing ones.
"We've rolled up our sleeves, opened our arms, and opened our hearts, creating connections through care and compassion, in times of need and times of crisis.
LISTEN: Will Meghan Markle wear a tiara to King Charles' coronation?
"And we've seen the transformative power of leading through this lens. We're excited to embark on the next chapter with a renewed spirit, and an unwavering commitment to key issues which have an overwhelming ripple effect on our collective well-being.
"Dovetailing off of the impact we've made during this start-up phase we will continue to build a better world online, work to restore trust in information, and above all, uplift communities online and offline, local and global."
Make sure you never miss a ROYAL story! Sign up to The Royal Explainer newsletter to receive your weekly dose of royal features and other exclusive content straight to your inbox.