Okay I'm not defending the IEEE, but I'd like to inject some data into this discussion. From their latest annual report, in 2010 their revenues and expenses from periodicals was $134.65m and $120.63m respectively.
Lord only knows how they spent $120m to curate a bunch of journals and magazines, but the $14m profit is less than what they earned in investment income ($25m).
Lord only knows how they spent $120m to curate a bunch of journals and magazines, but the $14m profit is less than what they earned in investment income ($25m).