Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value of Assets and Liabilities

Summary of financial assets and liabilities measured at fair value on a recurring basis

	Level 1		Level 2		Level 3		Fair Value
March 31, 2020
Assets
Money market accounts	$	4,117,161	$	—	$	—	$	4,117,161
Total assets measured at fair value	$	4,117,161	$	—	$	—	$	4,117,161
Liabilities
Acquisition-related contingent consideration-short term	$	—	$	—	$	7,675,000	$	7,675,000
Acquisition-related contingent consideration-long term		—		—		5,050,000		5,050,000
Interest rate swap agreements-short term		—		5,373,647		—		5,373,647
Interest rate swap agreements-long term		—		13,675,476		—		13,675,476
Total liabilities measured at fair value	$	—	$	19,049,123	$	12,725,000	$	31,774,123

	Level 1		Level 2		Level 3		Fair Value
December 31, 2019
Assets
Money market accounts	$	54,014,591	$	—	$	—	$	54,014,591
Total assets measured at fair value	$	54,014,591	$	—	$	—	$	54,014,591
Liabilities
Acquisition-related contingent consideration-short term	$	—	$	—	$	4,825,000	$	4,825,000
Acquisition-related contingent consideration-long term		—		—		9,900,000		9,900,000
Interest rate swap agreements-short term		—		2,157,324		—		2,157,324
Interest rate swap agreements-long term		—		6,181,964		—		6,181,964
Total liabilities measured at fair value	$	—	$	8,339,288	$	14,725,000	$	23,064,288

Reconciliation of contingent consideration liabilities related to acquisitions

Three Months Ended March 31, 2020	Beginning Balance		Additions		Payments		Change in Fair Value		Ending Balance
Contingent consideration - Level 3 liabilities	$	14,725,000	$	—	$	—	$	(2,000,000)	$	12,725,000
Three Months Ended March 31, 2019	Beginning Balance		Additions		Payments		Change in Fair Value		Ending Balance
Contingent consideration - Level 3 liabilities	$	15,250,000	$	1,500,000	$	(12,000,000)	$	—	$	4,750,000