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Investments (Tables)
12 Months Ended
Dec. 31, 2012
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of investments as of December 31, 2012 and 2011:
 
 
 
 
As of December 31, 2012
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
7,500,063

 
$
83,868

 
$

 
$
7,583,931

Certificates of deposit
Less than 1
 
250,000

 

 

 
250,000

Municipal bonds
Less than 1
 
201,470

 

 
(1,400
)
 
200,070

Total investments
 
 
$
7,951,533

 
$
83,868

 
$
(1,400
)
 
$
8,034,001

 
 
 
As of December 31, 2011
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
Less than 1
 
$
6,000,000

 
$
37,115

 
$

 
$
6,037,115

Certificates of deposit
Less than 1
 
5,771,000

 

 
(2,696
)
 
5,768,304

Municipal bonds
Less than 1
 
1,056,614

 
1,387

 

 
1,058,001

Total investments
 
 
$
12,827,614

 
$
38,502

 
$
(2,696
)
 
$
12,863,420