Walter and Maria Schroeder both grew up in Winnipeg in close-knit Mennonite families. After completing their education, they moved to central Canada. While driving to Montreal for a family vacation in 1976, Walter sketched out an idea for a new Canadian based bond rating agency he called the Dominion Bond Rating Service (DBRS). Starting with just $1000 in working capital, Walter Schroeder built the company into one of the world’s premier bond rating agencies, with offices in New York, Chicago and London, and employees all over the world.The Schroeder family sold the company in 2014, but instead of retiring, Walter and Maria decided to devote their time to philanthropy and help improve the lives of Canadians. The Schroeder Foundation has committed nearly $200 million to various initiatives close to their heart, with an emphasis on improving quality of life, alleviating pain and mental distress, improving mobility and recovery from injury. They have made landmark investments in brain and heart care, multiple sclerosis education, arthritis treatment, rehabilitation, and allergy prevention, among many others.
Walter and Maria Schroeder, founders of the Schroeder Foundation, have committed $200 million to support health innovation, education and enhancing food security.
In 2017, the philanthropists made the largest donation ever to a rehabilitation hospital in Canada with a $20 million gift to Toronto Rehabilitation Institute in order to create the Schroeder Institute for Brain Innovation and Recovery.
The establishment of SPARC is an important step towards UHN’s goal of creating A Healthier World.
UHN, KITE, and Toronto Rehabilitation Institute are eternally grateful for the Schroeders’ continued generosity.