Am I being used? Website gurus your help is needed

Ok, here's the situation, I don't want to make any waves so I am asking for your help anonymously and the e-mail account that I provided is very old and I never use it so if you wanna get in touch with me privately let me know and I'll e-mail you. Ok I work for another wake website, not naming any names, and I do quite a fair amount for this site and I love what I do but I am a student and I am trying to make ends meet, anytime I do anything for any other website I'm usually rewarded somehow. Anyway the site admin is claiming that any and all money made is going straight back into the site, which I think is awesome but I don't see how he is not making a profit and what urks me is I feel like the staff and I do 90% of the work. Ok so what I am asking is is it possible that he is putting all the money comming in back into the site (mind you I have not seen one improvement or upgrade in well over a month) there are several sponsors to the site and he even makes a % off everysale at the online wakestores that came from a click on our site. He has been saying for months that we'd be getting our own e-mail, never happened, that he'd put the photo gallery up, still hasn't happened, he keeps saying he'll do all these things and never does. Not to mention he is only in HS so what are the odds that he is actually paying for the whole thing out of his pocket and that mummy and daddy aren't helping out? How much does it really cost to run a website? I asked him what programs he uses and what start up costs are for a site (cause I'm trying to put my own together plus I wanted to see hoe much he was actually spending on the site). He said he does the whole thing from scratch (is that possible) and he says that there is never enuff room on the server which makes me think that the monthly payment is pretty low. What really bothers me tho is that I work my butt off for stuff that could have been put on my site or that could be in a place where it will get more exposure and instead I am giving him my services for free. Am I a fool? Is it possible that all the $$ are going back into the site? Should I stop altogether and put all my energy towards my site? Or should I at least keep the title of staff until I am up and running? WHat should I do? Am I being used?