Jikan, all of the suggestions above are good, as Chödams are quite expensive, especially the higher quality ones. Just take a look at how much the ones on http://damaruworks.com/
are fetching. This could allow for quite a bit of Dharma activity to be sponsored.
Based on how you acquired the drum, it sounds like perhaps it was given to you. The other option would be to give it away in a similar fashion, perhaps to someone of little means who cannot afford such a ritual instrument but has a sincere desire to practice Chöd. As one of these poor practitioners, I can assure you that there are people out there who would very much appreciate the kindness and generosity if you choose to go that route.
"The Sutras, Tantras, and Philosophical Scriptures are great in number. However life is short, and intelligence is limited, so it's hard to cover them completely. You may know a lot, but if you don't put it into practice, it's like dying of thirst on the shore of a great lake. Likewise, it happens that a common corpse is found in the bed of a great scholar." ~ Karma Chagme དྲིན་ཆེན་རྗེ་བཙུན་བླ་མ་རཱ་ག་ཨ་སྱ་མཁྱེན་ནོ།