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I think it depends on the situation the church is in. Is their minister working full-time because they can't pay him a living wage? Then there is one obvious thing to do. But assuming that the church itself is fine financially, I think I would do the following:
Find a good Reformed person who was planning to go to Iceland and having trouble raising support because of the high cost of living and enable them to get there and settle in.
Fund the publication and wide distribution of a complete metrical Psalter in Spanish. As much as possible send Psalters free of charge to all sorts of congregations in the hopes of sparking an interest in singing the Psalms throughout Latin America. Also fund the translation of actual Puritan and Reformation texts (though a lot is being translated, I think it's true that Piper and MacArthur and such are more translated into Spanish than Perkins or Peter Martyr).
Distribute significant amounts to trusted missionaries with instructions to disburse responsibly as they know of needs.
Contribute to funding the translation of the Bible into the most spoken language still without one.
Set up a fund to assist projects like what TimV was talking about in another thread.
If anything was left over, I'd give some tired servant of God a chance to rest and a nice set of books.
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