Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments [Abstract]

Investment Securities Stated at Fair Value

Assets or liabilities that have recurring fair value measurements are shown below as of June 30, 2022 and December 31, 2021:

As of June 30, 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	June 30, 2022		(Level 1)		(Level 2)		(Level 3)
Cash & Cash Equivalents	$	269,372,471	$	269,372,471	$	—	$	—
Short-Term Investments:
Certificate of Deposit	1,752,930		1,752,930		—		—
Corporate Bonds	5,467,319		—		5,467,319		—
Municipal Bonds	1,729,072		—		1,729,072		—
Other	3,042,833		3,042,833		—		—
Long-Term Investments:
Asset Backed Securities	23,356,697		—		23,356,697		—
Certificate of Deposit	735,897		735,897		—		—
Corporate Bonds	34,178,081		—		34,178,081		—
Government Securities	38,901,568		—		38,901,568		—
Municipal Bonds	52,972,792		—		52,972,792		—
Total	$	431,509,660	$	274,904,131	$	156,605,529	$	—

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 June 30, 2022 and December 31, 2021:

As of June 30, 2022:

			Unrealized
	Cost		Gains		Losses		Market Value
Short-Term Investments:
Certificate of Deposit	$	1,750,990	$	4,098	$	(2,158)	$	1,752,930
Corporate Bonds	5,630,319		—		(163,000)		5,467,319
Municipal Bonds	1,740,477		760		(12,165)		1,729,072
Other	3,042,833		—		—		3,042,833
Long-Term Investments:
Asset Backed Securities	24,055,501		—		(698,804)		23,356,697
Certificate of Deposit	750,000		—		(14,103)		735,897
Corporate Bonds	37,765,445		—		(3,587,364)		34,178,081
Government Securities	41,238,181		2,361		(2,338,974)		38,901,568
Municipal Bonds	56,098,534		188,395		(3,314,137)		52,972,792
Total	$	172,072,280	$	195,614	$	(10,130,705)	$	162,137,189

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
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 June 30, 2022, are as follows:

	Aggregate Unrealized Losses		Aggregate Fair Value of Investments
Loss duration of less than one year	$	8,893,651	$	143,233,962
Loss duration of greater than one year	1,237,054		9,273,913
Total	$	10,130,705	$	152,507,875

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 June 30, 2022 have contractual maturities as follows:

Due within one year	$	8,949,321
Due between one and five years	89,732,074
Due over five years	60,412,961
	$	159,094,356