XML 36 R22.htm IDEA: XBRL DOCUMENT v3.25.1
Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Disaggregation of Revenue
Revenue from contracts with clients that was earned during the three months ended March 31, 2025 and 2024, include:
Three Months Ended March 31, 2025
Investment advisoryFund
administration, net		Total revenue
Proprietary Funds$23,611,231 $1,807,399 $25,418,630 
SMAs5,821,210 — 5,821,210 
Other pooled vehicles2,762,414 — 2,762,414 
CITs1,711,541 — 1,711,541 
Model delivery1,402,415 — 1,402,415 
$35,308,811 $1,807,399 $37,116,210 
Three Months Ended March 31, 2024
Investment advisoryFund
administration, net		Total revenue
Proprietary Funds$22,095,183 $1,943,137 $24,038,320 
SMAs6,779,253 — 6,779,253 
Other pooled vehicles2,770,713 — 2,770,713 
CITs1,397,010 — 1,397,010 
Model delivery1,309,634 — 1,309,634 
$34,351,793 $1,943,137 $36,294,930 
Mutual Fund Administration Gross and Net Revenue und administration gross and net revenue are summarized below:
 Three Months Ended 
 March 31,
 20252024
Fund administration:
Administration revenue, gross$6,642,148 $5,718,610 
Fund related expense(4,834,749)(3,775,473)
Fund administration revenue, net$1,807,399 $1,943,137