The most common and most likely answer to this crossword clue is the 8 letter word DONATION
I've seen this crossword clue in The Times
D
O
N
A
T
I
O
N
More clues leading to the result DONATION
- College lecturer breaking into a gift
- Party people are present
- Gift provided by party people
- Prepare state offering
- Party people making contribution to party funds?
- Academic fighting to axe college’s voluntary contribution?
- Party people getting present
- Present and organise race
- Offering to trick folk
- Gift to people after a party
Buddy explains!

The straight part
We know that "present" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case present = donation.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does DONATION mean?
DONATION noun- A voluntary gift or contribution for a specific cause.
- The act of giving or bestowing; a grant.