This paper reports upon a study on the effectiveness of participatory school administration, leadership and management (PSALM) as perceived by 282 stakeholders in one school division in the Philippines. The study also examined the correlation between the indicators of PSALM effectiveness and the trust levels of the stakeholders. Questionnaires were used to gather data and responses were tabulated and analyzed using the SPSS. Findings show that the following indicators of PSALM effectiveness were significantly related to the stakeholders' levels of trust: usefulness of committee structure, satisfactory composition of the advisory school council (ASC), adequacy of information for ASC decision-making, adequacy of time for doing ASC business, ASC influence on teaching and learning, and overall ASC functioning. It is suggested that school leaders wishing to enhance the levels of trust among the stakeholders in their schools should consider these indicators of PSALM effectiveness in carrying out their leadership duties and responsibilities.