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The one thing maybe a bit unique is start up a venture capital fund to support business here in Iowa, to help get them started. The kid with the good idea in the Ames Lab, that kind of thing. Try to make the DM-Ames are sort of a mini silicon valley in terms of new startups.
If they make money, then keep rolling it over into new ventures. If it all gets blown, well, I am still OK and had some fun and gave it a whirl. I would want to be involved in the vetting and selection, enjoy that kind of thing.
I'd spend all of it trying to earn BodeClone's friendship.
donate my money to 5* football recruits.
Lump sum
Buy a parcel of land in Iowa with a stream and/or a good sized pond - Maybe 40 acres or so. Build homes for myself and siblings - basically a compound. Build a centrally located recreational area on the land with a pool, basketball court, theater, kitchenette, Picnic shelter, changing rooms, etc for weekends and holidays.
Also a huge (thinking 24-car sized) garage/shop for me to store my auto collection as I build it up. Probably need to hire someone to keep them cleaned and serviced at all times.
Get a nice condo in Ames for game days and basketball nights. Top donor season tickets of course - goes w/o saying.
Partial ownership of a jet for flights avoiding commercial air travel.
Keep my FL condo but maybe add an additional unit in the same building for visitors and family.
Charity donations, but to none that beg, and always incognito.