> The parent was using "efficient" in the same way that a non-profit or other fund might say efficient (i.e. that money in is mostly money out, administration _by the program_ is not a significant source of cost).

Correct. Example: Watsi.org. They are amazingly efficient at delivering healthcare to people in the third world, and they run off donations. [+]

[+] Its true they are partially funded by YC now to run their ops, but I believe all of their healthcare provider spending is still entirely donation driven.