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Consolidated Balance Sheets - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
ASSETS      
Cash and cash equivalents $ 80,187,685 $ 98,478,202  
Investments 142,695,192 128,401,136  
Accounts receivable 19,717,837 17,805,864  
Prepaid expenses 2,810,871 2,977,759  
Income taxes receivable 0 256,538  
Property and equipment, net of accumulated depreciation 6,820,446 6,740,396  
Deferred taxes 7,433,362 8,437,446  
Total assets 259,665,393 263,097,341  
Liabilities      
Accounts payable and accrued expenses 9,306,239 8,002,303  
Accrued incentive compensation 8,236,156 28,400,000  
Income taxes payable 3,647,687   $ 0
Deferred compensation 33,369,087 33,241,952  
Total liabilities 54,559,169 69,644,255  
Redeemable noncontrolling interest 10,665,146 9,372,333  
Permanent Shareholders’ equity      
Common stock, no par value: 7,000,000 shares authorized; 3,197,634 issued and outstanding at March 31, 2021 (inclusive of 215,352 unvested shares); 3,168,823 issued and outstanding at December 31, 2020 (inclusive of 183,718 unvested shares) 85,303,452 80,810,946  
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0  
Deferred equity compensation (19,440,920) (14,748,118)  
Retained earnings 128,578,546 118,017,925  
Total permanent shareholders’ equity 194,441,078 184,080,753 $ 190,779,920
Total liabilities and shareholders’ equity $ 259,665,393 $ 263,097,341  
Book value per share (usd per share) $ 60.81 $ 58.09