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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Apr. 30, 2023
Apr. 30, 2022
Apr. 30, 2021
Cash flows from operating activities:      
Net income $ 18,069,000 $ 23,822,000 $ 23,280,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 1,349,000 1,336,000 1,293,000
Investment (gains)/losses 125,000 1,402,000 (4,710,000)
Non-voting profits interest in EAM Trust (734,000) (2,142,000) (2,131,000)
Non-voting revenues interest in EAM Trust (10,397,000) (15,899,000) (15,190,000)
Revenues distribution received from EAM Trust 11,284,000 16,608,000 13,907,000
Profits distributions received from EAM Trust 1,043,000 2,439,000 1,602,000
Full forgiveness of SBA, PPP loan 0 (2,331,000) 0
Deferred rent (1,240,000) (1,087,000) (962,000)
Deferred income taxes 20,000 (89,000) 543,000
Changes in operating assets and liabilities:      
Unearned revenue (800,000) (1,315,000) 350,000
Accounts payable & accrued expenses (51,000) (763,000) 21,000
Accrued salaries (176,000) (26,000) 18,000
Accrued taxes on income 185,000 321,000 (1,487,000)
Prepaid and refundable income taxes 163,000 28,000 (616,000)
Prepaid expenses and other current assets (215,000) 34,000 39,000
Accounts receivable (447,000) 2,308,000 453,000
Total adjustments 109,000 824,000 (6,870,000)
Net cash provided by operating activities 18,178,000 24,646,000 16,410,000
Cash flows from investing activities:      
Proceeds from sales of equity securities 4,706,000 12,039,000 8,212,000
Purchases of equity securities (1,732,000) (7,508,000) (12,958,000)
Proceeds from sales of Fixed Income securities 9,907,000 2,496,000 14,902,000
Purchases of Fixed Income securities (38,857,000) (10,405,000) (2,597,000)
Acquisition of property and equipment (30,000) (11,000) (33,000)
Expenditures for capitalized software (110,000) 0 (145,000)
Net cash provided by/(used in) investing activities (26,116,000) (3,389,000) 7,381,000
Cash flows from financing activities:      
Purchase of treasury stock at cost (4,704,000) (2,484,000) (1,526,000)
Receivable from clearing broker 0 0 608,000
Payable to clearing broker 0 0 (588,000)
Dividends paid (9,471,000) (8,405,000) (8,068,000)
Net cash used in financing activities (14,175,000) (10,889,000) (9,574,000)
Net change in cash and cash equivalents (22,113,000) 10,368,000 14,217,000
Cash, cash equivalents and restricted cash at beginning of year 30,008,000 19,640,000 5,423,000
Cash, cash equivalents and restricted cash at end of year $ 7,895,000 $ 30,008,000 $ 19,640,000