According to the Last Will and Testament of Milton Kutz, admitted to probate on June 24, 1953 and pursuant to the By-laws of the Milton and Hattie Kutz Foundation, the funds must be administered exclusively for educational, scientific and charitable purposes.
 
The Charter of the Foundation notes that the use to which funds are applied shall not be restricted to the people of any race, faith, color or creed, but shall be administered on an interdenominational basis.