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The think tank raised just less than $74 million in 2011, only 4 percent of which came from corporations, according to its most recent annual report. Unlike some other think tanks, Heritage does not do contract work for companies, Heritage Vice President of Development John Fogarty told Roll Call last year.
Prominent conservative activist Paul Weyrich and Joseph Coors, president of Coors Brewing Co., both now deceased, helped Feulner found Heritage in 1973. Throughout the 1980s, it remained small, focusing primarily on tax and trade issues. When President Bill Clinton took office, it became an outpost for displaced Republicans and started to attract larger donations.
Feulner had been planning to step down for more than a year. He will be named chancellor of Heritage, a new position, and will continue in a part-time capacity as chairman of the foundationís Asian Studies Center.