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Investments (Tables)
 9 Months Ended
Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of short-term investments as of September 30, 2014 and December 31, 2013:
 
 
 
 
As of September 30, 2014
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
29,564,317

 
$
—

 
$
(106,544
)
 
$
29,457,773

Municipal bonds
Less than 1
 
805,144

 
—

 
(3,632
)
 
801,512

Total investments
 
 
$
30,369,461

 
$
—

 
$
(110,176
)
 
$
30,259,285

 
 
 
As of December 31, 2013
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
18,178,518

 
$
—

 
$
(78,614
)
 
$
18,099,904

Municipal bonds
Less than 1
 
805,144

 
560

 
—

 
805,704

Total investments
 
 
$
18,983,662

 
$
560

 
$
(78,614
)
 
$
18,905,608