"I don't believe they should feel any less secure than they did a week ago, because this was a crime of opportunity," said Police Chief Pete Cumming.
The City of Longboat Key, Zota Beach Resort, and several small organizations have donated to the fund.
"We are tracking some good leads and I'm confident that we will make an arrest," said Chief Cumming.
Resident Lynn Larson said people on Longboat Key take this crime personally.
"This really is one of the safest communities in the country and it still is," said Larson.
Zota Beach Resort reopened over the weekend, but there is now a full-time police officer on the property.
Anyone with information on the crime is urged to call the Longboat Key Police Department 941-316-1977.
The Family of one of the victims, Tim Hurley, released a statement regarding the tragic incident:
“Tim was the glue that held our family together. We feel lost and hopeless without him. He worked in the hospitality industry because he loved to serve people. He was the most selfless, loving and compassionate man that we have ever known. Our lives will never be the same without him. Please keep our family in your prayers.”