Present: something received by the recipient (4)
I believe the answer is:
here
'present' is the definition.
(both can mean in attendance)
'something received by the recipient' is the wordplay.
'something received by' indicates a hidden word (the answer is held or received by the clue).
'HERE' can be found hidden inside 'the recipient'.
(Other definitions for here that I've seen before include "Hither" , "In attendance" , "final clue?" , "To hand" , "Present; I say!" .)