Endowment funds are not a checking account, they are not just cash on hand for universities to spend as they please. They could certainly liquidate, but then each year their disbursement would get lower. There is no situation where they could continue operating as they do now.

See my other comment on the likelihood that any corporation would want to pay for basic science. When would any company choose to fund something that would not guarantee a return on investment? It goes against the nature of the goals of a corporation. I would love to know of for-profit examples of this. I'm sure there are a few, but I doubt there are many.