Professor consumed gift (6)
I believe the answer is:
donate
'gift' is the definition.
(to gift can mean to donate)
'professor consumed' is the wordplay.
'professor' becomes 'don' (term for a university professor).
'consumed' becomes 'ate' (to eat is to consume food).
'don'+'ate'='DONATE'
(Other definitions for donate that I've seen before include "Contribute charitably" , "Give freely, maybe blood" , "Atoned (anag)" , "Give to a charity or good cause" , "Make a gift of" .)