Don't let it fool you. People may still want a PTO and be more than willing to volunteer, but are afraid of the title of "leader", "PTO President". It really only takes a few "leaders".
It's easier for someone to be second at , "I'll do that, too", than to say, "I'll do that".
When PTO's are in jeopardy of dissolving sometimes thinking outside the PTO norm is required. There is one middle school in our city that has a parent teacher network. They do very little fundraising and started with just a few parent volunteers. Their focus is on encouraging families to be in the school and focus on education and school spirit such as Math Nights, Science Nights, "Are you smarter than your 7th grader?", etc. They have a great relationship with their principal and teachers. From the few parents they had to start out with to over 100 that attend PTN meetings now they are definately a success story. Don't give up!
We had a very successful PTO at our middle school for 5 years with only 2 people serving as officers and a handful of parents helping out. Fortunately we also had a wonderful staff of teachers who helped us out when needed (chaperoning, fundraiser pickup, set up/clean up, etc.) and a fantastic Principal who we absolutely loved. It is possible to run a PTO with 1 or 2 people, you just need to realize that you are giving way more time to put on events and get things done. Let me know if you have any other questions!
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Not necessary new but some folks prefer that option to divide up the work a bit. I personally couldn't serve as one a of a co-president team. Too much confusion as to who's in charge...but I know some groups have that and it works fine for them.
Our organization allows for co-chair of many of our committees, especially the larger ones that require more work. Expanding your Executive Board might also help -- ex. two recording secretaries, two VPs, treasuer and assistant treasurer. Getting committed volunteers is very difficult. Keep trying -- after all, it is for the kids.