Twenty-nine million 401(k) accounts in this country are just sitting there. Owners moved jobs, forgot the login, never got around to rolling them over. Total stranded: $1.65 trillion.
Not a typo. Trillion. About a quarter of every dollar in the U.S. retirement system is parked in an account whose owner couldn't tell you which provider holds it.
The fix is paperwork. A few signed forms, a phone call to the old plan administrator, a wire to an IRA. Doing it yourself takes about an hour. Share of savers who actually pull it off alone: 22%. Median time when they try: more than two months. Over half can't say where their old account even lives.
So somebody built the form. Capitalize raised $96 million from Venrock, NEA, and Public to do exactly one thing — pry your money out of one account and drop it in another. The whole company is a readiness layer between you and money that already belongs to you.
Now look at America's small nonprofits. Same setup, different vertical.
$50 billion in federal clean-energy tax credits has been sitting on the books since 2022. Section 6417 lets a church or community center collect 30% to 70% of a retrofit project as a cash refund from Treasury. Stack in C-PACE financing, state programs, utility rebates, denominational climate funds, and a typical congregation is staring at six figures in incentives. Almost none of it moves. The treasurer is a volunteer. The board wants a one-page memo. Nobody owns the translation layer between policy and project.
A solo operator can sell a $299 to $1,500 Retrofit Readiness Report: paperwork, incentive map, contractor shortlist, board memo. Margin: 80-90%. Run-rate after six months in one metro: roughly $400K annualized. The Section 48E and 45Y window closes July 4, 2026. The product is the packet.
Read the full playbook here:
Nonprofits own 370,000 buildings eligible for Section 6417 elective pay and C-PACE financing. Nobody owns the readiness layer. A $299–$1,500 productized report fills the gap.
From the Vault:
Creators on Substack, Patreon, and TikTok sit on thousands of product requests they never act on. The missing layer is upstream of every storefront — and it's wide open.
Web accessibility lawsuits topped 5,000 in 2025, and state cure-period laws are shifting the job from "avoid litigation" to "document the fix." No one built the response workflow for SMBs.
