Can you create a new customer label or do you have to choose from the pre-defined list? (Donors, members, etc.)

Good morning, @akissel.

At this time, all of the customer labels are available in the drop-down you are referring to.  I can understand the need for additional customer labels, and I'm more than happy to submit this to our developers as feedback.  

Please let me know if there's anything additional I can help you with, I'm here! 

Yes, please submit this as feedback.  Thank you.