I am a new PTO pres. Our Principal told me that he had a agreement with the past two presidents that he got 50% of any profit we made during that year. I have no formal contract. He eluded that we "used" HIS kids to make money so he needed it to help run his school. We are a public school and he puts the money into the general fund. What is the average split in situations like this. Is it even legal for him to demand this money?