Pros
Lots of learning experiences, if you can tolerate the toxicity. Could be a nice challenge temporarily for an extremely hungry and experienced nonprofit professional with a lot to prove. If you have thick skin and the utmost respect for authority/crave dramatic conflict, you may be able to put your seatbelt on and ride the rollercoaster.
Cons
Very dysfunctional. Management is often in conflict. Micromanagement, contradictory leadership, and constantly shifting goal posts make success difficult. Blatant manipulation, rampant verbal abuse, and mind games or sheer incompetency [difficult to tell which] is commonplace. Near-autocratic project management suited only for those who can keep their head down and take orders, not ideal for creativity or healthy teamwork. Negative environment was a detriment to physical and psychological health of many employees who rotate through quickly.