The fund picks up where the Department of Defense and Veterans Affairs have left off, said Arnold, who directs the tournament.
On Monday, the sixth annual Injured Marine Golf Benefit will place at the Costa Mesa Country Club.
In light of the ailing economy, Arnold is expecting to raise about $30,000 — less than last year's $42,000.
"Our goal is to spread the word to the community that our wounded warriors have paid a price for freedom," Arnold said. "It's our responsibility, and our duty, to stand behind them and to make them feel welcomed back into our community, and that we will always stand behind them and we will never forget them.
"We will always be there to help our fellow Americans, who paid a tremendous price for freedom, not just our freedom … freedom around the world."
The golf tournament will feature 36 teams and 144 golfers. The teams will include an active duty group, a Marine team and a sponsored wounded warriors team. A silent auction, raffle, live band, dinner and dance will follow at the American Legion Post 291.
"This is not something nice to do; this is our duty, this is our responsibility," Arnold said. "We're not going to let happen to them what happened when we came home (after Vietnam). It was a whole different story."
If You Go
What: Injured Marine Golf Benefit
When: Tournament: 10 a.m. to 4 p.m. Monday, dinner and dance: 5 to 9 p.m. Monday
Where: Tournament: Costa Mesa Country Club, 1701 Golf Course Drive, Costa Mesa, dinner and dance: American Legion Post 291, 215 East 15th St., Newport Beach
How to Help: Send a check payable to the Injured Marine Golf Benefit to P.O. Box 1221, Costa Mesa, CA 92626