Multiple funds were established in the days after the bombing, including the One Fund Boston, set up by Massachusetts Gov. Deval Patrick and Boston Mayor Tom Menino. The fund has already received $20 million.
Kenneth R. Feinberg, who is in charge of administering the One Fund Boston, said the money would be dispersed to victims and their families by the end of June. According to Feinberg, the tentative plan is to disburse the money to victims on a sliding scale according to the length of time they spent in the hospital. Feinberg, who also administered the 9/11 Victim Compensation Fund and victim funds created after the shootings in Aurora, Colo., and at Virginia Tech, said whether a victim had medical insurance would not be considered in the disbursement.
"Hospitalization is a pretty good surrogate for seriousness of injury," said Feinberg. "We would probably look at how long a physically injured victim remained in the hospital and come up with a formula tied to that hospitalization."
The families of the victims who died will also be given a certain amount of the funds.
In addition to the One Fund Boston donations, online fundraisers for victims of the Boston Marathon Bombing and their families have raised more than $2 million so far.