NY1 had the most hilarious headline in its story about the financial irregularities at the James Beard Society, one of the city's most prestigious cooking societys: Probe Finds Dough Is Missing At Culinary Institute. Gothamist thought that NY1 was reporting that some specially made dough for an elaborate bread was stolen but in fact, NY1 was following up on the NY Times's article about how the James Beard Society makes millions of dollars a year, but spends a fraction of that money on scholarships - most the money is spent on galas and other meals - most notably the James Beard Awards to chefs, restaurants, and others related in the culinary fields, but also the lunches and dinners held at the Greenwich Village offices. One person calls the James Beard Society "an expensive dining club," versus being a resource that gives back via scholarships; in fact, a link on their website only goes to 2002 scholarships and that link is broken. The JBS is also being investigated because it hasn't paid taxes in over two years.
More at Gothamist Food on the scandal. And the James Beard Society does have great events because, as the NY Times article points out, similar meals eaten at restaurant would cost much much more. Gothamist hopes the society finds its bearings.