A kitchen set gets a lot of play even from the really little ones that aren't really pretending but just putting stuff in and out of the various parts.
You could also consider putting the money into teaching resources that you might use with the kids such as bulletin board kits and borders to decorate the walls or seasonal decorations. I of course am partial to using the feltboard - as you might guess from my name so that would be fun - mine is just a large board covered in felt. I also love love love my pocket chart and have a full size one as well as a smaller one I use in lessons when not using the feltboard cause then I can just put the figures in the pockets - great for counting and matching games.
What about putting the money towards colored cardstock for making games for the kids as in the money goes towards the craft supplies but then the result is games and teaching resources for the kids.
Another option is to just wait a bit and watch the children play and then see about adding to what you already have. Sometimes it isn't something new we need to add but more of what we have - more blocks or more puzzles or another puppet.
Halloween is a good time to pick up fun stuff for playing dress up.