The late Rabbi Henry Gutterman was deeply committed to Jewish education. When the various members of the committee established to perpetuate his memory either moved or passed away, the Foundation Fund was turned over to the Jewish Federation. For many years, the Foundation was chaired by the late Larry Preven. It is now administered by the Investments Committee of the Federation.

The money is prudently invested through a trust and the annual income is reviewed for distribution to several sources: a) Jewish Family Service Passover Fund, which makes cash grants to congregational rabbis who submit a financial request, without revealing names of individuals; b) Hebrew schools and c) small stipends for students who excel in their studies, as determined by their individual Hebrew schools. The latter presentations are made at graduation exercises.