Picklist options must be activated for the record types you want them to appear on. For a picklist on a donation record: 
  1. In Setup, select Customize > Opportunities > Record Types
  2. Click on the name of the record type you would like to feature the new item
  3. Click on Edit next to the desired picklist
  4. Add the item to the available options
  5. Click Save

For a picklist on a contact record:
  1. Setup, select Customize > Contacts > Record Types
  2. Follow steps 2 - 5 above