t's "proceeds have" (not "proceeds has"). Some nouns, such as "proceeds", earnings, savings, valuables, and winnings, only have a plural form and take a plural verb.
"Proceeds" is a plural noun. Some nouns, like "proceeds", only have a plural form. They are called pluralia tantum (Latin for "plural only").
The proceeds from the sale will go to the school for children.
The proceed from the sale will go to the school for children.
Be aware that the word "proceed" (without "s") is a verb, and not a noun.
Please proceed to gate 6 and wait for further instructions.
We'll also add that pluralia tantum require a pronoun or a verb in the plural. As a result, we say "proceeds are/have", not "proceeds is/has".
The proceeds have increased in value.
The proceeds has increased in value.
Similarly, the following financial-related terms are plural nouns or pluralia tantum: