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Consolidated Balance Sheets - USD ($)
Sep. 30, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 45,741,395 $ 63,195,302
Investments 164,628,201 145,675,711
Accounts receivable 22,597,262 17,329,034
Prepaid expenses 3,856,648 3,435,269
Income taxes receivable 968,832 1,463,547
Property and equipment, net of depreciation 3,032,022 4,348,341
Deferred taxes 13,486,001 14,374,206
Total assets 254,310,361 249,821,410
Liabilities    
Accounts payable and accrued expenses 12,238,747 9,177,977
Accrued incentive compensation 20,807,724 32,100,000
Deferred compensation 32,355,274 30,744,990
Total liabilities 65,401,745 72,022,967
Redeemable noncontrolling interest 25,336,181 14,126,198
Permanent shareholders’ equity    
Common stock, no par value: 7,000,000 shares authorized; 2,918,762 issued and outstanding at September 30, 2023 (inclusive of 193,287 unvested shares); 3,010,457 issued and outstanding at December 31, 2022 (inclusive of 219,459 unvested shares) 37,597,398 51,688,631
Preferred stock, undesignated, 1,000,000 shares authorized and unissued 0 0
Deferred equity compensation (18,214,588) (17,011,144)
Retained earnings 144,189,625 128,994,758
Total permanent shareholders’ equity 163,572,435 163,672,245
Total liabilities and shareholders’ equity $ 254,310,361 $ 249,821,410