Feulner was a founding trustee of the Heritage Foundation from 1973 until 1977, when he left Representative Crane's office to run the outfit full-time. It had nine employees and in those four years had churned through four presidents. As president, he changed the foundation's direction. He wanted it to be more aggressive, more market-driven and less ivory-tower, creating easily accessed, concise studies. By focusing the foundation's marketing, he transformed it from a small operation into a booming enterprise of conservative ideals, eventually creating the think tank that The New York Times calls "the Parthenon of the conservative metropolis." This new marketing strategy was called the "briefcase test", a concept that revolutionized the influence of think tanks on public policy and boosted Heritage's popularity. Now the focus was on easily accessed, timely, concise research that could fit in a briefcase. A further fillip was the foundation's publishing of policy reports and papers ahead of related legislation, rather than the established think-tank practice of waiting until it had been passed. As Feulner related to The Washington Examiner, "It doesn't do us any good to have great ideas if we are not out there peddling our products." Within a year and a half of Feulner becoming president, Heritage's budget had increased to $2.5 million with a donor pool of about 120,000. The institution has around 250 employees and annual income of about $80 million and a donor pool of about 600,000. In January 2013, Feulner published a column, "Economic Freedom on the Wane", to review the results of the annual Index of Economic Freedom, which has been a joint project of The Wall Street Journal and the Heritage Foundation since 1995. The index measures individual countries' policies in four broad areas: the rule of law, limited government, regulatory efficiency and open markets. In the 2013 edition, citizens of the United States were
lucky we didn't fall out of the top 10 altogether. Our Index score went down a bit over the last year. We held onto the No. 10 slot mostly because Ireland declined enough to wind up in 11th place. As recently as 2008, the U.S. ranked seventh worldwide, had a score of 81, and was listed as a "free" economy. Today, the U.S. has a score of 76 and is "mostly free," the Index's second-highest category.
In 1989 Feulner received the Presidential Citizens Medal, the second-highest civilian award in the United States. He is frequently recognized by media and in conservative circles as an influence in US right-wing policy thought. In Forbes Magazine, in 2009, Karl Rove called Feulner the sixth most powerful conservative in Washington. In 2007 GQ magazine considered him one of the "50 most powerful people in D.C." And in both 2007 and 2010, the UK's Daily Telegraph named him "one of the 100 most influential conservatives in America". In June 2012, Feulner received the conservative Bradley Prize for "extraordinary talent and dedication". In 2018, he took the National Review's William F. Buckley Jr. Prize for Leadership in Political Thought. He has been awarded eleven honorary degrees, and has received honors from the governments of Taiwan, South Korea and the Czech Republic.