If the membership ranks would swell the board could vote to spend the money on what the membership was interested in, within the bylaws. IWA is not a conservation organization first order. The original mission and guiding principles are here: http://www.idahowaterfowl.org/?action=mission
While conservation is in the mission we have never really been big enough to fund much. What we have provided is manpower and the USFWS has been able to use our manpower to get more grants. Previous projects have included nesting surveys, goose nest maintenance, trash cleanup, banding birds, youth hunts and participation in waterfowl fairs.
What IWA really tries to do is provide feedback to IDFG, USFWS, Idaho legislature and other state agencies on issues of concern to waterfowl hunters.
With the type of membership numbers we have and the funding that comes in it really just covers mostly the bills. IWA is a member of the Idaho Sportsmen's Caucus Advisory Council which was $200 year, but has recently moved to $300. We also pay for the website, but have somewhat recently just started using Facebook.
There has been previous discussion of doing away with IWA and focusing efforts on creating a Delta Waterfowl chapter in Idaho, but it would get away from the real reason IWA was initially formed. IWA lets us take a position on local issues, be them political or not, where DU and Delta won't take these positions. They are conservation focused only.
Personally, I am with you in that I am losing faith in DU and their management. More and more it seems they just purchase land and easements that end up being private duck clubs shortly there after. Doesn't seem like they focus on the average duck hunter anymore... granted I still gave them my money this year, :)