I work at a respectable, medium-sized non-profit organization with a legitimate mission - no one at the executive level is stealing money.
I'd say that 60% of my co-workers' time is either spent doing nothing/personal things (idle chat, Facebook, etc.), or on work that results in very little or nothing three months down the road. There are lots of projects that go nowhere, after many hours of labor time involving multiple people. People where I work tend to spend a lot of time thinking about what they're going to eat for lunch. After a hard project, some seem to not really show up to work for a couple days (work days M-F), or they leave very early, or they "work from home". People seem to come in late on a regular basis and nothing seems to ever be said about it.
That said, from my understanding you could say very similar things about working in large, for-profit corporations.
Like with a lot of things in the modern economy, I don't think that an increase in money coming in (funding/grants) is necessarily a good thing at my non-profit. I'd say - instead focus on how to make existing dynamics work properly/better, and focus on what you already have before spending more money.