While I know nothing of that particular group, and they may be out of line, that link is highly biased. The only bad thing I take from that is that this particular group might use some unethical tactics to obtain land. But with all the other ridiculous statements in the piece, I'd also want to get the other side of the argument.
But a lot of it is easy to see through B.S.
What a conservancy does is look for large tracts of private land, buy them, and sell them to the government. Typically they sell them at a loss, they use private donations (individuals, corporations, etc.) to break even, they are not-for-profit organizations. But they do sell them, that land gets turned into public land of some sort like parks, state forests, nature preserves, etc. Often there's a pre-agreed buyer, like the fish commission or DCNR, etc. There is also often work to be done first, as you are taking private land and returning it to supposedly pristine conditions. That means removing sewage and water lines, gas lines, tearing down buildings, moving landfills, etc. The eventual buyer (often government) sometimes contracts the conservancy to do that work, who probably contracts it out to businesses with the proper equipment. All this drives down the worth of the land, so the government may pay more than fair value, but its still less than the initial cost of the land + all the work that is done. Plus the conservancy handled all the consulting work and such that comes with such an endeavor (someone has to be on the lookout for land opportunities in a wide range of locations, somebody has to do the engineering work to decide how the contract work will be carried out, etc.)
So, yes, they sell land to the government and recieve money in return. And yes, they get contracts from the government to prepare the property for its intended use. Yes, they're sustained on grant money (private grants, not taxpayer grants), thats how a conservancy stays afloat. Yes, they're going to hire consultants, thats probably the best way to keep an eye out for land, and engineering fees, etc.
I don't know much about the board members' compensation, perhaps they do get too much, although the figures given are still far below what is typical for a business of the same size. It's sad, but in this day and age, for a chief operating officer, $200,000 salary is peanuts.
So they invest in securities, stocks and bonds. I'm sure at any given time an organization of this size has a few million on hand, which may not be used for years. I'd be a little worried if they kept it in cash rather than invested it.
Then they get on them about the land. They currently have over a million acres, and say they've protected over 10.5 million, and consider it a bad thing that the rest was sold to the government? Of course it was, thats their mission! That million they have right now will probably be sold too.
Like I said, the only negative thing here is that perhaps this particular group MAY be overly aggressive about how they get their land, at least it is based on this side of the argument.