I'd say to fold it as is until you find the project you'll be using it in. You never know if little bits would be just what you need until the time comes.
Also, my first few years of playing in fabric, I didn't applique. Now that I do, there are considerably smaller pieces that would really work for me. If you're not interested in dealing with the pieces under a specific measurement and sincerely doubt you'll change your mind later on or have no interest in learning other techniques, then by all means, cut it into some pieces that fit your needs and hang on to the tiny scraps for a quilty friend or local quilt charity. Someone will make good use of what's leftover. Happy organizing!
Heather