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Investments (Tables)
 9 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Summary of investments
The following is a summary of available-for-sale securities as of September 30, 2016 and December 31, 2015:

 
 
 
As of September 30, 2016
 
Contractual
Maturity (in years)
Cost
 
Gross Unrealized
Gains
 
Gross Unrealized
Losses
 
Fair Market Value
Mutual funds
---
 
$
70,053,356

 
$
244,865

 
$
(62,554
)
 
$
70,235,667

US corporate debt securities
Less than 2
 
26,221,990

 
15,380

 
(37,452
)
 
26,199,918

Investment in affiliated entity (PLS)
---
 
—

 
4,537,761

 
—

 
4,537,761

Total investments
 
 
$
96,275,346

 
$
4,798,006

 
$
(100,006
)
 
$
100,973,346

 
 
 
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