Investments (Tables)

3 Months Ended

Mar. 31, 2022

Investments [Abstract]

Investment Securities Stated at Fair Value

Assets or liabilities that have recurring fair value measurements are shown below as of March 31, 2022 and December 31, 2021:

As of March 31, 2022:

			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	March 31, 2022		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	279,708,413	$	279,708,413	$	—	$	—
Short-Term Investments:
Certificate of Deposit	753,625		753,625		—		—
Corporate Bonds	2,001,860		—		2,001,860		—
Municipal Bonds	1,251,802		—		1,251,802		—
Other	2,884,333		2,884,333		—		—
Long-Term Investments:
Asset Backed Securities	24,781,272		—		24,781,272		—
Certificate of Deposit	1,767,238		1,767,238		—		—
Corporate Bonds	41,177,112		—		41,177,112		—
Government Securities	38,685,508		—		38,685,508		—
Municipal Bonds	50,853,579		—		50,853,579		—
Total	$	443,864,742	$	285,113,609	$	158,751,133	$	—

As of December 31, 2021:

			Fair Value Measurements at Reporting Date Using
	Total as of		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Description	December 31, 2021		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	262,311,670	$	262,311,670	$	—	$	—
Short-Term Investments:
Certificate of Deposit	1,507,770		1,507,770		—		—
Corporate Bonds	2,018,440		—		2,018,440		—
Government Securities	—		—		—		—
Municipal Bonds	—		—		—		—
Other	1,897,402		1,897,402		—		—
Long-Term Investments:
Asset-backed Securities	25,799,513		—		25,799,513		—
Certificate of Deposit	2,056,710		2,056,710				—
Corporate Bonds	40,354,929		—		40,354,929		—
Governmental Securities	47,944,036		—		47,944,036		—
Municipal Bonds	74,720,480		—		74,720,480		—
Total	$	458,610,950	$	267,773,552	$	190,837,398	$	—

Schedule of Amortized Cost, Unrealized Gains and Losses, And Market Value of Investment Securities

The amortized cost, unrealized gains and losses, and market value of investment securities are shown as of March 31, 2022 and December 31, 2021:

As of March 31, 2022:

			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	751,354	$	2,600	$	(329)	$	753,625
Corporate Bonds	1,996,774		5,086		—		2,001,860
Municipal Bonds	1,250,203		1,599		—		1,251,802
Other	2,884,333		—		—		2,884,333
Long-Term Investments:
Asset Backed Securities	25,406,929		—		(625,657)		24,781,272
Certificate of Deposit	1,750,000		19,888		(2,650)		1,767,238
Corporate Bonds	43,589,074		—		(2,411,962)		41,177,112
Government Securities	40,547,178		—		(1,861,670)		38,685,508
Municipal Bonds	52,501,468		254,830		(1,902,719)		50,853,579
Total	$	170,677,313	$	284,003	$	(6,804,987)	$	164,156,329

As of December 31, 2021:    

			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,500,543	$	7,227			$	1,507,770
Corporate Bonds	1,994,639		23,801		—		2,018,440
Government Securities					—		—
Municipal Bonds	—						—
Other	1,897,402						1,897,402
Long-Term Investments:
Asset-backed Securities	26,352,630		34,771		(587,888)		25,799,513
Certificate of Deposit	2,001,714		54,996		—		2,056,710
Corporate Bonds	40,716,866		168,416		(530,353)		40,354,929
Government Securities	48,385,672		55,939		(497,575)		47,944,036
Municipal Bonds	72,175,568		2,747,964		(203,052)		74,720,480
Total	$	195,025,034	$	3,093,114	$	(1,818,868)	$	196,299,280

Schedule of Unrealized Loss on Investments

Unrealized losses on investments as of March 31, 2022, are as follows:

	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	5,817,906	$	135,887,611
Loss duration of greater than one year	987,081		10,371,045
Total	$	6,804,987	$	146,258,656

Unrealized losses on investments as of December 31, 2021, are as follows:

	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	1,244,053	$	94,417,123
Loss duration of greater than one year	574,815		6,875,230
Total	$	1,818,868	$	101,292,353

Investments Classified by Contractual Maturity Date

Fixed income securities as of March 31, 2022 have contractual maturities as follows:

Due within one year	$	4,007,287
Due between one and five years	96,407,502
Due over five years	60,857,208
	$	161,271,997