Gives a nod, turning, prepared to reverse (7)
I believe the answer is:
donates
'gives' is the definition.
(donating is a kind of giving)
'a nod turning prepared to reverse' is the wordplay.
'turning' says the letters should be written backwards.
'prepared' becomes 'set' (I've seen this before).
'to reverse' says the letters should be written in reverse.
'a'+'nod'='anod'
'anod' back-to-front is 'dona'.
'set' backwards is 'tes'.
'dona'+'tes'='DONATES'
(Other definitions for donates that I've seen before include "Offers free" , "Gives to good cause" , "gifts" .)