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Investments (Tables)
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of available-for-sale securities as of March 31, 2016 and December 31, 2015:

 
 
 
As of March 31, 2016
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
78,572,862

 
$
113,561

 
$
(117,133
)
 
$
78,569,290

US corporate debt securities
Less than 2
 
26,509,854

 
11,272

 
(27,766
)
 
26,493,360

Municipal bonds
Less than 1
 
100,793

 
—

 
(61
)
 
100,732

Investment in affiliated entity (PLS)
---
 
—

 
5,026,917

 
—

 
5,026,917

Total investments
 
 
$
105,183,509

 
$
5,151,750

 
$
(144,960
)
 
$
110,190,299

 
 
 
As of December 31, 2015
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
78,571,294

 
$
435

 
$
(185,737
)
 
$
78,385,992

US corporate debt securities
Less than 2
 
26,923,855

 
—

 
(54,452
)
 
26,869,403

Municipal bonds
Less than 1
 
101,936

 
—

 
(54
)
 
101,882

Investment in affiliated entity (PLS)
---
 
—

 
5,045,915

 
—

 
5,045,915

Total investments
 
 
$
105,597,085

 
$
5,046,350

 
$
(240,243
)
 
$
110,403,192