Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 98,478,202	$ 93,176,253
Investments	128,401,136	139,437,178
Accounts receivable	17,805,864	17,223,362
Prepaid expenses	2,977,759	2,857,468
Income taxes receivable	256,538	3,849,099
Property and equipment, net of depreciation	6,740,396	5,733,737
Deferred taxes	8,437,446	10,386,853
Total assets	263,097,341	272,663,950
Liabilities
Accounts payable and accrued expenses	8,002,303	8,671,731
Accrued incentive compensation	28,400,000	26,615,510
Deferred compensation	33,241,952	30,342,204
Total liabilities	69,644,255	65,629,445
Redeemable noncontrolling interest	9,372,333	14,178,824
Permanent Shareholders’ Equity
Common stock, no par value 7,000,000 shares authorized; 3,168,823 issued and outstanding at December 31, 2020 (inclusive of 183,718 unvested shares); 3,294,672 issued and outstanding at December 31, 2019 (inclusive of 227,844 unvested shares)	80,810,946	95,853,477
Preferred stock, undesignated, 1,000,000 shares authorized and unissued	0	0
Deferred equity compensation	(14,748,118)	(20,331,890)
Retained Earnings	118,017,925	117,334,094
Total permanent shareholders’ equity	184,080,753	192,855,681
Total liabilities and shareholders’ equity	$ 263,097,341	$ 272,663,950
Book value per share (in dollars per share)	$ 58.09	$ 58.54