If a non-profit organization is:
not solving some public good (in the economic sense: https://en.wikipedia.org/wiki/Public_good_(economics))
not redistributing money directly
not helping agents that can’t help themselves / use money
not helping the donor directly
relying on donations
Then:
it’s probably mostly done for signaling purposes and/or misguided
it’s likely performing worse than the average company
although there could be less efficient ways of redistributing money that would arguably be better than the average company
If a non-profit organization is:
not solving some public good (in the economic sense: https://en.wikipedia.org/wiki/Public_good_(economics))
not redistributing money directly
not helping agents that can’t help themselves / use money
not helping the donor directly
relying on donations
Then:
it’s probably mostly done for signaling purposes and/or misguided
it’s likely performing worse than the average company
although there could be less efficient ways of redistributing money that would arguably be better than the average company