Problem with a List Field

I have a problem and need some guidance. Putting it into words is almost as difficult as finding the solution. I am working on a site for an association. There are about 140 member organizations in the association. When a person registers for the site, I have added the module Profile 2 to gather additional info.

I want the users to identify which group the belong. I created 2 fields, one for the Acronym and one for the full group name. To be consistent, I chose the list field type and a select list widget. Since I started the project, some groups have changed. When I go to change the list choices, Drupal tells me I cannot do that.

I only have a few sample items in the database, so adding new fields and removing the current ones is not a big issue, although time consuming.

Is there another solution to having a field in a content type be from choices, where I can change the choices?

To add to my dilemma, I need to use that same info when creating some other content type inputs. For instance, a user from a member organization can upload a copy of a current newsletter from their org and they need to identify the acronym & full organization name in the add content form.

Is there a way to have a place where they can draw that info from, and I can change or add to that info as needed?

Any suggestions?

Thanks.
Hewie Poplock

PS I am hoping to attend tonight’s Orlando Meetup. Thanks Ryan for setting it up.