Abstract: A Portable Tool Organizer is provided that provides for the transport and storage of a wide variety of tools, equipment, parts, etc., and also houses a spool for dispensing line of different types within the frame. The frame has a cutter assembly attached that has a pivoting portion with a sharpened cutting edge that cuts the spooled out line when the pivoting portion scissors with respect to the remaining cutter assembly. The cutting edge has several semi-circular notches into which the line is nestled and positioned for cutting as the cutter assembly is closed by pushing against a thumb rest on the pivoting portion. Two aligned rows of receptacles have top openings and extend within the frame. The rows are stepped to assist in access and visual identification of the tools, etc. that extend from the receptacles during ordinary storage and transportation. A closed compartment for parts, etc. is at the top of the frame and has a hinged lid.