2019 Annual Report

Principled Leadership in a Challenging World

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Principled Leadership in a Challenging World

Heritage Leadership

The Heritage Foundation Board of Trustees: (from left) Steve Forbes, New York, N.Y.; Robert Pennington, Darien, Conn.; Larry P. Arnn, Hillsdale, Mich.; Virginia Heckman, Atlanta, Ga.; Robert P. George, Princeton, N.J.; Brian Tracy, Solana Beach, Calif.; Michael W. Gleba, Vice Chairman, Pittsburgh, Pa.; Edwin J. Feulner, Alexandria, Va.; Nersi Nazari, Atherton, Calif.; Barb Van Andel-Gaby, Chairman, Duluth, Ga.; Kay C. James, Midlothian, Va.; Jerry Hume, San Francisco, Calif.; Mark A. Kolokotrones, La Canada, Calif.; J. William Middendorf II, Little Compton, R.I.; Thomas A. Saunders III, Palm Beach, Fla.; William L. Walton, Washington, Va.; Abby Moffat, Bethesda, Md.; Edwin Meese III, McLean, Va.; Anthony J. Saliba, Chicago, Ill.; (Not pictured) Ryan Haggerty, Fort Worth, Texas; Rebekah A. Mercer, New York, N.Y.

Our mission: To formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense.

Board of Trustees*

Barb Van Andel-Gaby, Chairman

Michael W. Gleba, Vice Chairman

The Hon. Kay Coles James, President

Larry P. Arnn, Ph.D.

Edwin J. Feulner, Ph.D.

Steve Forbes

Robert P. George, Ph.D.

Ryan Haggerty

Virginia Heckman

Jerry Hume

Mark A. Kolokotrones

The Hon. Edwin Meese III

Rebekah A. Mercer

The Hon. J. William Middendorf II

Abby Spencer Moffat

Nersi Nazari, Ph.D.

Robert Pennington

Anthony J. Saliba

Thomas A. Saunders III, Chairman Emeritus

Brian Tracy

William L. Walton

Honorary Trustees*

David R. Brown, M.D., Chairman Emeritus

The Hon. Frank Shakespeare

Society of emeritus Trustees*

Phillip N. Truluck, Chairman

Belden H. Bell

Midge Decter

J. Frederic “Fritz” Rench

William E. Simon, Jr.


The Hon. Kay Coles James, President

The Hon. Kim R. Holmes, Ph.D., Executive Vice President

John P. Backiel, Vice President

Thomas P. Binion, Vice President

Robert B. Bluey, Vice President

Christopher G. Byrnes, General Counsel and Secretary

James Jay Carafano, Ph.D., Vice President

Wes Dyck, Vice President

Eric Korsvall, Vice President

John Malcolm, Vice President

Andrew P. McIndoe, Vice President

Angela Sailor, Vice President

Jack Spencer, Vice President

Bridgett G. Wagner, Vice President

Charmaine Yoest, Ph.D., Vice President

*As of December 31, 2019

As a nonprofit 501(c)(3) organization, we rely on the financial contributions of the general public: individuals, foundations, and corporations. We accept no government funds and perform no contract work. We welcome your support.

People Are Policy

Heritage is home to some of America’s most thoughtful and insightful policy analysts. And we’ve been blessed with donors who are committed to making sure that we can continue to attract and retain top-flight scholars. Here are the fellowships—and the analysts they support*—that played such a crucial role in our 2019 successes.

Joseph C. And Elizabeth A. Anderlik Fellow

Charmaine Yoest, Ph.D.

Angeles T. Arredondo E Pluribus Unum Senior Fellow

Mike Gonzalez

Richard F. Aster Fellow

Paul Winfree

AWC Family Foundation Fellow


Chung Ju-yung Fellow for Foreign Policy Studies

Edwin J. Feulner, Ph.D.

Ed Gilbertson and Sherry Lindberg Gilbertson Senior Legal Fellow

John G. Malcolm

Marilyn and Fred Guardabassi Fellow in Media and Public Policy

Kenneth McIntyre

Jay Kingham Senior Fellow in International Regulatory Affairs

Brett D. Schaefer

Mark A. Kolokotrones Fellow in Economic Freedom

Ambassador Terry Miller

Bernard and Barbara Lomas Senior Research Fellow

Nile Gardiner, Ph.D.

Herbert and Joyce Morgan Fellow

Nicolas Loris

E.W. Richardson Fellow

James Jay Carafano, Ph.D.

John, Barbara, and Victoria Rumpel Senior Legal Fellow

Paul J. Larkin, Jr.

William E. Simon Senior Research Fellow in American Principles and Public Policy

Ryan T. Anderson, Ph.D.

Will Skillman Fellow in Education Policy

Lindsey M. Burke, Ph.D.

Margaret Thatcher Fellow

Robin Simcox

Jay Van Andel Senior Analyst in Trade Policy

Tori K. Smith

John Von Kannon Fellow in Philanthropy

Carsten E. Walter

Preston A. Wells, Jr. Fellow in Health Policy

Edmund F. Haislmaier

*as of 12/31/2019

Distinguished Fellows

A select few of our scholars are designated as Distinguished Fellows. Heritage reserves that title to honor individuals who, in addition to their demonstrated commitment to rigorous research and conservative principles, have compiled a record of outstanding achievement outside the think tank world. In 2019, Heritage was home to five distinguished fellows.

Ronald Reagan Distinguished Fellow Emeritus Edwin Meese III
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There’s Edwin Meese III, of course, our Ronald Reagan Distinguished Fellow Emeritus. His contributions won national recognition when President Donald Trump awarded him the country’s highest civilian honor, the Presidential Medal of Freedom. Meese continued to play a leadership role in the conservative movement, leading our biannual Legal Strategy Forums, as well as monthly coordinating meetings of freedom-based public interest law groups.

Distinguished Visiting Fellow Rick Dearborn
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Distinguished Visiting Fellow Rick Dearborn is no stranger to the halls of power in Washington—those inside government as well as out. Over the past 30 years, he has served two U.S. presidents and six U.S. senators. He also served as Heritage’s director of congressional relations from 1993 to 1996.

In 2018, he returned to Heritage to take charge of a new initiative: the Federalism Project. In 2019, he worked on developing a master plan for devolving power back to the states and the people—as the Founders intended.

He also advised Vice President Tommy Binion on how best to maneuver Heritage policy recommendations through the executive branch. Thanks to Dearborn’s tenure as President Donald Trump’s deputy chief of staff, his insights and contacts proved invaluable, helping get Heritage research into the right hands before final decisions were made.

Ronald Reagan Distinguished Fellow Becky Norton Dunlop
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Becky Norton Dunlop, our Ronald Reagan Distinguished Fellow, maintained a busy schedule. Her advice on policy and personnel matters is regularly sought by administration officials. In the first quarter of the year alone, she met with officials at the White House, Peace Corps, Office of Personnel Management, and the departments of Labor, Justice, Interior, State, Transportation, and Homeland Security.

She was also involved in building a principles-based conservative movement in Brazil, meeting extensively with elected and appointed government officials as well as faith and civil society leaders. And her leadership in building the Association of American Educators, an alternative to the teachers’ unions, proved quite valuable to allies running union opt-out campaigns across the country.

Distinguished Fellow in Conservative Thought Dr. Lee Edwards
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Our Distinguished Fellow in Conservative Thought, Dr. Lee Edwards, is widely regarded as the leading historian of the conservative movement. In 2019, however, he concentrated much of his attention on combatting a current problem: the growing acceptance of socialism in America.

In a series of commentaries, Edwards documented the dangers and disappointment of this seductive ideology. Among these writings were: “Socialism: A Clear and Present Danger” (for FoxBusiness.com), “Three Nations That Tried Socialism and Rejected It” (National Review), “The Totally, Utterly Irrefutable Case Against Socialism” (The Daily Signal), “THESE Are the Most Telling Failures of Socialism” (Fox News), and “The God That Failed … Over and Over Again” (American Thinker).

In August, C-SPAN aired “In Depth With Lee Edwards,” in which he discussed The Conservative Revolution, Goldwater, and Just Right: A Life in Pursuit of Liberty—just three of his more than 25 books. During the two-hour interview, he also gave a personal testimony—about how his exposure to communism in Europe turned him into a lifelong conservative.

Distinguished Visiting Fellow Stephen Moore
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Distinguished Visiting Fellow Stephen Moore continued to write his weekly syndicated column, while also contributing analyses to The Wall Street Journal, Fox News, The Hill, and other news outlets.

In addition to commenting on the news, he made news in 2019 with groundbreaking research that showed median household income had soared by $5,000, to an all-time high of $66,000, in less than three years.

These findings triggered two completely opposite reactions. President Trump enthusiastically tweeted out the good news about middle-class income gains and took to reciting Moore’s statistics in virtually every speech.

The Left, however, tried to bury them. When that failed, they simply denounced his findings—ignoring the fact that they were based wholly on reliable economic data from the U.S. Census Bureau.

Making a Difference … Permanently

Left to right: John Malcolm, Andrew McIndoe, Carolyn Arredondo, Caesar Arredondo, and Mike Gonzalez.

A New York real estate investor, Caesar Arredondo had supported Heritage’s broad research program for years. In 2019, he decided to “go big” in a way that would accomplish three goals: encourage patriotic assimilation, discourage identity politics, and permanently attach his family’s name to The Heritage Foundation. His $1.5 million gift established, for all time, the Angeles Arredondo E Pluribus Unum Fellowship. Heritage designated Mike Gonzalez as our first Arredondo Fellow.

2019 Financial Statements

Operating Revenues


90 %

Program Revenue & Other Income

10 %
Operating Expenses


19 %

Management & General

2 %


79 %

Preliminary results for The Heritage Foundation only. Heritage Action reports its financials separately. Final audited financial statements will be available on or after July 31, 2020.