Andy,
It is really a LOT more involved than that. A system that really works is one with a fair number of volunteers, led but a core group of totally dedicated EXPERIENCED "hands on" folks, and one DICTATOR!
The problem with large volunteer organizations has generally been, sooner or later, SOMEONE joins that wants to be "in control", but really has not much knowledge of the item being restored (old ship, old air craft, old diesel unit, or old steam locomotive). The FWRRHS always had EXCELLENT LEADERSHIP (the late Glen Brendal sp.). Which has NOT been the norm in many "steam locomotive restoration projects"!
The Friends of SP4449 organization has worked well for for some 35 years, mainly due to the fact of the "Dictator" keeps everything focused and headed in the right direction. Various "joiners" have come and gone, but when trying to "take over" from the Dictator, they quickly realized why the 4449 STILL operates, and operates WELL, and the need for "another person in charge" was NOT needed, nor desired.