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Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
ASSETS    
Cash and cash equivalents $ 58,779,282 $ 80,550,393
Investments 161,930,168 166,656,001
Accounts receivable 21,133,187 20,443,562
Prepaid expenses 3,157,795 2,555,296
Property and equipment, net of accumulated depreciation 5,642,790 6,100,599
Deferred taxes 10,723,101 9,847,552
Total assets 261,366,323 286,153,403
Liabilities    
Accounts payable and accrued expenses 9,765,278 8,588,713
Accrued incentive compensation 9,400,752 37,235,418
Income taxes payable 4,883,055 801,740
Deferred compensation 33,968,699 37,348,294
Total liabilities 58,017,784 83,974,165
Redeemable noncontrolling interest 20,738,520 17,756,336
Permanent Shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 3,191,487 issued and outstanding at March 31, 2022 (inclusive of 263,702 unvested shares); 3,171,536 issued and outstanding at December 31, 2021 (inclusive of 201,170 unvested shares) 83,517,125 80,434,049
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (24,476,298) (15,268,705)
Retained earnings 123,569,192 119,257,558
Total permanent shareholders’ equity 182,610,019 184,422,902
Total liabilities and shareholders’ equity $ 261,366,323 $ 286,153,403
Book value per share (usd per share) $ 57.22 $ 58.15