Large endowments causes that unless you have very strict rules around it like the Nobel prize endowment. You can see how every large charity starts to focus on growing larger rather than its mission, Mozilla is a good example of that.

> a large endowment should either free you

A large endowment attracts greedy people who then want to make it larger, that is true regardless where you go.

A large endowment requires more management, so you bring in a finance department to manage it. With what metric are those employees going to be evaluated, given that there is always going to be someone who will want the stability of a government job? It's not going to be "just maintain, don't worry". It's going to be "who can get us the most ROI?".