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Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 38,656,996 $ 63,195,302
Investments 163,210,138 145,675,711
Accounts receivable 18,958,115 17,329,034
Prepaid expenses 3,049,936 3,435,269
Income taxes receivable 723,961 1,463,547
Property and equipment, net of depreciation 3,472,158 4,348,341
Deferred taxes 12,547,288 14,374,206
Total assets 240,618,592 249,821,410
Liabilities    
Accounts payable and accrued expenses 7,425,948 9,177,977
Accrued incentive compensation 13,293,056 32,100,000
Deferred compensation 33,214,525 30,744,990
Total liabilities 53,933,529 72,022,967
Redeemable noncontrolling interest 22,743,998 14,126,198
Permanent shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 2,950,264 issued and outstanding at June 30, 2023 (inclusive of 203,984 unvested shares); 3,010,457 issued and outstanding at December 31, 2022 (inclusive of 219,459 unvested shares) 42,903,550 51,688,631
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (21,087,626) (17,011,144)
Retained earnings 142,125,141 128,994,758
Total permanent shareholders’ equity 163,941,065 163,672,245
Total liabilities and shareholders’ equity $ 240,618,592 $ 249,821,410