Autopopulate a new field with Account Name when I add a contact through a Lookup field

Question

I want a custom new field called "Organization" to auto-populate with "Account Name" related to the contact I add in my look-up field called "Class host":

To paint the picture:

Anne works at an organization called HAPPY.

I create a class/campaign and add Anne as "Class host" through my look-up field that feeds from "contacts". Then field "Organization" automatically populates to say "HAPPY", the account name = organization Anne works at.

How do I do that?

Thank you!

Answer 1

If I understand correctly, what you need is formula field of type TEXT on your class/campaign object. It will be populated with Contact's (Class host) Account Name field.