Cutolo was the best man at John "Jackie" DeRoss's wedding. Cutolo was also involved in volunteer work. He was a fundraising chairman for the National Leukemia Research Association in Garden City, New York, along with his son. He sat on the Medical Advisory Committee as Chairman of "Team Leukemia", and was associated with the New York chapter of the Leukemia and Lymphoma Society. He helped raise $400,000 for Local 204 as well as many other locals over the years. In 1988, Cutolo was honored as the National Leukemia Association's Man of the Year. William paid for their holiday parties and dressed up every year as Santa Claus for the National Children's Leukemia Association as his son handed out gifts and posed for pictures with the stricken children.