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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of Investment Values Based Upon Fair Value Hierarchy | The following table summarizes investments that are recognized in the Company’s consolidated balance sheet using fair value measurements (excludes investments classified as equity method investments) determined based upon the differing levels as of December 31, 2023 and 2022:
December 31, 2023 | Level 1 | Level 2 | Level 3 | Total
Cash equivalents | $ | 44,171,397 |  | — |  | — |  | $ | 44,171,397 |
Fair value investments |  |  |  |
Company-sponsored investments | 63,208,573 |  | — |  | — |  | 63,208,573 |
December 31, 2022 |  |  |  |
Cash equivalents | 60,412,001 |  | — |  | — |  | 60,412,001 |
Fair value investments |  |  |  |
Securities held in Consolidated Funds(a) | 21,542,950 |  | $ | 33,198,043 |  | — |  | 54,740,993 |
Company-sponsored investments | $ | 66,828,910 |  | — |  | — |  | $ | 66,828,910 |
(a) Of the securities held in the Consolidated Funds as of December 31, 2022, the Company directly held $37.5 million and non-controlling shareholders held $17.2 million.

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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