Are the members of your after-school club tripping over the name Student Parachuting League & Aerial Team? Why not use each word's first letter to make an acronym, and call the club SPLAT? There, that’s better.
What do NASA, sonar, and scuba have in common? They are all acronyms. Not only does each letter come from the first letter of another word, but each group of letters is easy to pronounce as its own word. Though its roots are classic (acro means “tip” and nym means “name”), acronym is fairly new as English words go; it has only been around since the early 1940s.