The independently run Stansted Community Fund will offer generous grants to help local good causes linked to education, environmental and employment projects within the counties surrounding the UK's third busiest airport.
Ashley Riley, Stansted Airport's Head of Communications, said:
"Stansted Airport is an integral part of the community, and we take seriously the responsibility we have to work with a wide range of community organisations.
"The new Community Fund allows us to work together with local people in deciding where the £70,000 goes. The Fund will support projects linked to education, the environment and employment – areas local people tell us they most value financial assistance."
From the beginning of 2010, BAA divested its charitable giving to each of the six individual UK airports in its group, with the new Fund now supported by an annual donation from Stansted Airport. Local people from various organisations were invited to join the Board of Trustees, who meet every three months to consider grant applications.
Chair of the Community Fund and Servisair Station Manager, Bob Wainwright, said: "The Board of Trustees are such a dynamic group of people who have a wonderful knowledge local projects. We all have a common aim and desire to ensure the local community benefits from the Stansted Community Fund."
Julie Budden, Trustee and Chair of the Stansted Airport Chamber of Commerce, added: "I'm delighted and honoured to be on the Board of Trustees for the airport's new Community Fund. We want to ensure that the local community benefits as much as possible from its proximity to Stansted Airport."
The original BAA Communities Trust has made grants of over £6 million since it was established in 1996. During 2009, the Trust made some 500 grants and donations to charity, worth more than £600,000.