Pros
As a not-for-profit co-op everything we do is for the same aim, to be the best digital agency for the third sector. Everyone has shared ownership of what this looks like and although we disagree on the how sometimes it's always with the best intentions. This is the first place where I've experienced management being their to support their works do great work rather than just telling them what to do. The difference it makes in the day to day running and how it build a positive environment can not be understated.
Cons
This shape of company is very rare but we're still a digital agency and combining the 2 isn't easy and can cause issues. We also have a tendency to reinvent the wheel because people are always trying to do what's best. Perfect is the enemy of good is a phase that best describes it.