Gift is acceptable, wrapped by partner (6)
I believe the answer is:
donate
'gift' is the definition.
(to gift can mean to donate)
'acceptable wrapped by partner' is the wordplay.
'acceptable' becomes 'on' (as opposed to not on, unacceptable).
'wrapped by' is an insertion indicator (inserted letters get wrapped up).
'partner' becomes 'date'.
'on' put into 'date' is 'DONATE'.
'is' acts as a link.
(Other definitions for donate that I've seen before include "Make a gift of" , "Give - present" , "Fork out" , "Give money to charity" , "give in kindness" .)