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Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 40,334,923 $ 63,195,302
Investments 154,784,963 145,675,711
Accounts receivable 18,835,657 17,329,034
Prepaid expenses 3,430,543 3,435,269
Income taxes receivable 0 1,463,547
Property and equipment, net of depreciation 3,913,207 4,348,341
Deferred taxes 13,231,398 14,374,206
Total assets 234,530,691 249,821,410
Liabilities    
Accounts payable and accrued expenses 8,356,311 9,177,977
Accrued incentive compensation 6,068,220 32,100,000
Income taxes payable 2,294,207 0
Deferred compensation 31,231,801 30,744,990
Total liabilities 47,950,539 72,022,967
Redeemable noncontrolling interest 17,332,798 14,126,198
Permanent Shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 3,027,738 issued and outstanding at March 31, 2023 (inclusive of 254,558 unvested shares); 3,010,457 issued and outstanding at December 31, 2022 (inclusive of 219,459 unvested shares) 55,690,092 51,688,631
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (23,568,556) (17,011,144)
Retained earnings 137,125,818 128,994,758
Total permanent shareholders’ equity 169,247,354 163,672,245
Total liabilities and shareholders’ equity $ 234,530,691 $ 249,821,410