MILWAUKEE (CBS 58) -- The We Energies Foundation has made a commitment to the University of Wisconsin-Milwaukee with a $2 million pledge to the UWM Foundation.

Most of the donation will be allocated to initiatives like retention grants, emergency grants and enhanced advising tools, all of which aim to boost graduation rates. The remainder will fund scholarships, providing support for those striving to achieve academic success.

UWM Chancellor Mark Mone expressed his gratitude in a press release issued on Monday, May 15 announcing the contribution.

He noted, "I am delighted by this gift because of the critical support it will provide to help students graduate. UWM, like most other universities, experiences a vexing gap between the graduation rates of white students and underrepresented minority students. The We Energies Foundation stepped up to fund scholarships and programs to eliminate that gap and to help more students receive degrees."

The gap that Mone refers to is the gap in college degree achievement, a number that UWM’s Moon Shot for Equity Initiative aims to improve.

Kay Ellers, UWM Associate Vice Chancellor for Enrollment Management, also acknowledged the importance of the donation, saying, "Funding those efforts has been beyond our reach. This gift will help us continue to move the needle on this critical goal of improving graduation rates."

The gift is set to be presented on Tuesday, June 6, at a scheduled ceremony at the UWM campus.

More information about UWM's Moon Shot for Equity Initiative can be found by clicking here.