I would start with Defender for Endpoint which requires an E3 or E5 (or equivalent) license. This is a user license. There are many M365 benefits with E3/E5 and there may be non-profit discounts. This is the biggest bang for your buck and is a predictable price. MDE goes a long way to securing servers and endpoints with a good dashboard. Sort of a cookie cutter Windows SIEM. I would also look into MDI to secure on-prem domain controllers.
Sentinel is a more advanced SIEM. It takes more effort to configure and manage. Best for monitoring signals from a wide range of services in Azure, in other clouds, and on-prem. You pay per GB ingested. Somewhere around $4.5 per GB in the US. There are cost controls but calculating costs is somewhat difficult.
Anyway, I find the value of Sentinel is diminished if the other MS security services are not onboarded first like MDE, MDI, MDO, MDFC (ASC), and MDFCA (MCAS),