UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

(Mark one)

(X)      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND
         EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2002

OR

( )      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
         AND EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ___________ TO
         ___________

         COMMISSION FILE NUMBER 0-13415



                   CONSOLIDATED RESOURCES HEALTH CARE FUND II
             (Exact name of registrant as specified in its charter)



                  Georgia                                        58-1542125
       (State or other jurisdiction                           (I.R.S. Employer
     of incorporation or organization)                       Identification No.)


1175 Peachtree Street, Suite 850, Atlanta, GA                       31106
  (Address of principal executive offices)                       (Zip Code)


                                 (404) 873-1919
              (Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months,  and (2) has been subject to such filing  requirements
for the past 90 days. Yes__ No __x__

Indicate by checkmark whether the registrant is an accelerated filer (as defined
in Rule 12b-2 of the Exchange Act.) Yes__ No  __x__



<PAGE>



                          Part I. Financial Information

                   Consolidated Resources Health Care Fund II
                      Condensed Consolidated Balance Sheets

<TABLE>
<CAPTION>
                                                                          March 31,
                                                                            2002               December 31,
                                                                         (Unaudited)               2001
                                                                     -------------------    ------------------
<S>                                                                          <C>                   <C>
ASSETS
Current assets:
     Cash and cash equivalents                                             $  1,797,572          $  1,496,189
     Accounts receivable, net of allowance for doubtful accounts
     of $11,947 and $8,934, respectively                                        488,739               468,264
     Prepaid expenses and other                                                  16,008                22,577
                                                                     -------------------    ------------------
         Total current assets                                                 2,302,319             1,987,030

Property and equipment
     Land                                                                       178,609               178,609
     Buildings and improvements                                               7,198,153             7,192,829
     Equipment and furnishings                                                1,314,577             1,259,391
                                                                     -------------------    ------------------
                                                                              8,691,339             8,630,829

     Accumulated depreciation and amortization                              (6,128,714)           (6,005,933)
                                                                     -------------------    ------------------
         Net property and equipment                                           2,562,625             2,624,896
                                                                     -------------------    ------------------

Other
     Restricted escrows and other deposits                                      603,359               621,000
     Deferred loan costs, net of accumulated amortization of
   $  16,682 and $17,460, respectively                                           15,386                15,646
                                                                     -------------------    ------------------
         Total other assets                                                     618,745               636,646
                                                                     -------------------    ------------------

                                                                           $  5,483,689          $  5,248,572
                                                                     ===================    ==================
</TABLE>



See accompanying notes to condensed consolidated financial statements.





                                                                          Page 2
<PAGE>

<TABLE>
<CAPTION>
                                                                          March 31,
                                                                            2002               December 31,
                                                                         (Unaudited)               2001
                                                                      ------------------    ------------------
<S>                                                                           <C>                   <C>
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
Current liabilities:
     Current maturities of long-term debt                                  $     92,283          $     90,464
     Accounts payable                                                           199,091               119,524
     Accrued expenses                                                           575,534               499,553
     Accrued management fees                                                       ---                   ---
     Due to related party                                                        72,279                52,631
     Deposit liabilities                                                        105,449               173,500
                                                                      ------------------    ------------------

         Total current liabilities                                            1,044,636               935,672
                                                                      ------------------    ------------------

Long-term obligations, less current maturities                                3,749,234             3,774,945
                                                                      ------------------    ------------------

         Total liabilities                                                    4,793,870             4,710,617
                                                                      ------------------    ------------------

Partners' equity (deficit):
     Limited partners                                                           829,794               684,005
     General partners                                                         (139,975)             (146,050)
                                                                      ------------------    ------------------
         Total partners' equity                                                 689,819               537,955
                                                                      ------------------    ------------------

                                                                           $  5,483,689          $  5,248,572
                                                                      ==================    ==================
</TABLE>





See accompanying notes to condensed consolidated financial statements.








                                                                          Page 3
<PAGE>



                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                            Three months ended
                                                                                                 March 31,
                                                                                        2002                      2001
                                                                                 --------------------      -------------------
<S>                                                                                       <C>                      <C>
                          Revenue:
                              Operating revenues                                          $2,194,240               $1,919,848
                              Interest income                                                 20,054                   14,525
                                                                                 --------------------      -------------------
                                  Total revenue                                            2,214,294                1,934,373
                                                                                 --------------------      -------------------
                         Expenses:
                              Operating expenses                                           1,805,075                1,691,440
                              Depreciation & amortization                                    123,041                  119,062
                              Interest                                                        72,568                   74,153
                              Partnership administration costs                                61,746                   33,119
                                                                                 --------------------      -------------------

                         Total expenses                                                    2,062,430                1,917,774
                                                                                 --------------------      -------------------

                         Net income                                                       $  151,864                 $ 16,599
                                                                                 ====================      ===================

                         Net income per L.P. unit                                         $     9.72                 $   1.06
                                                                                 ====================      ===================

                         L.P. units outstanding                                               15,000                   15,000
                                                                                 ====================      ===================
</TABLE>




See accompanying notes to condensed consolidated financial statements.








                                                                          Page 4
<PAGE>



                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                         Three months ended March 31,
                                                                          2002                  2001
                                                                     ---------------       ---------------
<S>                                                                       <C>                   <C>
Operating Activities:
     Cash received from residents and government agencies                 2,173,765             1,930,107
     Cash paid to suppliers and employees                               (1,737,710)           (1,585,044)
     Property Taxes Paid                                                   (17,404)                   ---
     Interest received                                                       20,054                14,525
     Interest paid                                                         (72,568)              (74,153)
                                                                     ---------------       ---------------
         Cash provided by operating activities                              366,137               285,435

Investing Activities:
     Additions to property and equipment                                   (60,510)              (88,430)

Financing Activities:
     Principal payments on long-term debt                                  (23,892)              (22,171)
     Increase (decrease) in amount due to related party                      19,648              (15,913)
                                                                     ---------------       ---------------
     Cash used in financing activities                                      (4,244)              (38,084)
                                                                     ---------------       ---------------

Net increase in cash and cash equivalents                                   301,383               158,921
Cash and cash equivalents, beginning of period                            1,496,189             1,105,822
                                                                     ---------------       ---------------

Cash and cash equivalents, end of period                                 $1,797,572            $1,264,743
                                                                     ===============       ===============
</TABLE>




See accompanying notes to condensed consolidated financial statements.






                                                                          Page 5
<PAGE>



                   Consolidated Resources Health Care Fund II
                 Condensed Consolidated Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                Three months ended March 31,
                                                                  2002                  2001
                                                           -------------------     ---------------
Reconciliation of net income to cash
provided by operating activities:

<S>                                                                <C>                    <C>
   Net income                                                      $  151,864            $ 16,599

          Depreciation and amortization                               123,041             119,062


          Changes in assets and liabilities:

              Accounts receivable                                    (20,475)              10,259

              Restricted escrows                                       17,641            (56,930)

              Prepaid expense and other assets                          6,569               5,791

              Accounts payable and accrued liabilities                 87,497             190,655
                                                           -------------------     ---------------

Cash provided by operating activities                              $  366,137            $285,436
                                                           ===================     ===============
</TABLE>


See accompanying notes to condensed consolidated financial statements.




                                                                          Page 6
<PAGE>



                   CONSOLIDATED RESOURCES HEALTH CARE FUND II
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

                                 March 31, 2002


NOTE 1.

The financial  statements are unaudited and reflect all adjustments  (consisting
only of normal recurring  adjustments)  which are, in the opinion of management,
necessary  for a fair  presentation  of the  financial  position  and  operating
results of Consolidated  Resources Health Care Fund II (the  "Partnership")  for
the interim periods.  The results of operations for the three months ended March
31, 2002, are not  necessarily  indicative of the results to be expected for the
year ending December 31, 2002.

NOTE 2.

The  consolidated  financial  statements  should be read in conjunction with the
consolidated  financial  statements  and  the  notes  thereto  contained  in the
Partnership's  Annual Report on Form 10-K for the year ended  December 31, 2001,
as  filed  with  the  Securities  and  Exchange  Commission,  a copy of which is
available  upon  request by writing to WelCare  Service  Corporation-II  at Post
Office Box 8779, Atlanta, Georgia 31106.

NOTE 3.

A  summary  of  compensation   paid  to  or  accrued  for  the  benefit  of  the
Partnership's  general partners and their affiliates and amounts  reimbursed for
costs incurred by these parties on the behalf of the Partnership are as follows:

                                                    Three months ended March 31,

                                                        2002              2001
                                                        ----              ----
Charged to operating expenses:
     Property management and oversight management
     fees..........................................
                                                      $21,769            $19,120
Financial accounting, data processing,
     tax reporting, legal and compliance,
     investor relations and supervision
     of outside services...........................   $61,746            $33,119


NOTE 4.

Net income or loss per limited  partnership  (L.P.) unit represents that portion
attributable to L.P. units in each period presented, which is 96% of such income
or loss. The remaining 4% is attributable to the general partners,  Consolidated
Associates II and WelCare Service Corporation-II.




                                                                          Page 7
<PAGE>

ITEM 2   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS

Certain statements contained in this Management  Discussion and Analysis are not
based on historical  facts,  but are  forward-looking  statements that are based
upon numerous  assumptions  about future conditions that may ultimately prove to
be inaccurate.  Actual events and results may materially differ from anticipated
results described in such statements.  The Partnership's ability to achieve such
results  is  subject  to  certain  risks  and  uncertainties.   Such  risks  and
uncertainties  include, but are not limited to, additional changes in healthcare
reimbursement  systems and rates,  the  availability  of capital and  financing,
changes to amounts  recorded as revenues due to final  resolution of amounts due
to and from third-party  payors,  and other factors  affecting the Partnership's
business that may be beyond its control.

At March 31,  2002,  the  Partnership  had two general  partners  (the  "General
Partners"),   Consolidated   Associates   II  ("CA-II")   and  WelCare   Service
Corporation-II,  as managing general partner  ("WSC-II" or the "Managing General
Partner").

Results of Operations

Revenues:
---------

Operating revenues increased by $274,392 for the quarter ended March 31, 2002 as
compared  to the same  period for the prior year.  This  increase  is  primarily
attributable  to an increase in occupancy  and a positive  Medicare rate and mix
variance  at the nursing  facility  and an  increase  in  occupancy,  shift from
independent  unit  rentals to higher  cost  assisted  living  unit  rentals  and
periodic  rate  increases  at the  retirement  facility.  At March 31,  2002 the
occupancy rate at the nursing  facility was 96.1% compared to 91.2% for the same
period  of 2001,  and the  occupancy  rate of the  retirement  facility  was 91%
compared to 86.1% for the same period of 2001.

Expenses:
---------

Operating expenses increased by $113,635 for the quarter ended March 31, 2002 as
compared to the same period for the prior year. The increase is primarily due to
increased labor expenses for increased  services to residents as a result of the
occupancy increases referenced above, particularly for residents in the assisted
living  units of the  retirement  facility,  increased  management  fees for the
nursing facility due to revenue  increases and increased  depreciation and plant
contract services at the nursing facility, partially offset by reductions in the
nursing  facility's  expenses for 401(k) match,  group insurance and bonuses and
reductions in the retirement facility's plant expenses.

Net Income:
-----------

Net income for the three  months  ended  March 31,  2002  increased  $135,265 as
compared to the same period of fiscal 2001.  This increase in net income was due
in part  to the  increased  revenues  described  above  together  with a  $5,529
increase in interest income,  offset in part by the increased expenses described
above.

Liquidity and Capital Resources:
--------------------------------

At March 31, 2002, the Partnership held cash and cash equivalents of $1,797,572,
an increase of $301,383 from December 31, 2001. The current cash balance will be
necessary  to meet  the  Partnership's  current  obligations  and for  operating
reserves.  In  addition,  cash  balances  maintained  at the  Partnership's  two
facilities must be maintained in accordance with operating reserves  established
by HUD.

                                                                          Page 8
<PAGE>



The  Partnership's  two facilities  produced  sufficient  revenues to meet their
operating  and  debt  service   obligations.   Management  believes  that  these
facilities  will  produce  positive  cash flow for the year ending  December 31,
2002;  however,  a decline in revenues due to  declining  occupancy or otherwise
would have a  negative  effect on cash flow and could  effect the  Partnership's
ability to meet the facilities cash requirements.

As of March 31, 2002,  the  Partnership  was not  obligated to perform any major
capital  expenditures or renovations.  The Managing General Partner  anticipates
that any repairs, maintenance or capital expenditures will be financed with cash
reserves, HUD replacement reserves and cash flow from operations.

Significant   changes  have  and  will   continue  to  be  made  in   government
reimbursement  programs, and such changes could have a material impact on future
reimbursement  formulas.  The Balanced  Budget Act of 1997 targeted the Medicare
program for reductions in spending  growth for skilled  nursing  facilities over
the next five years,  primarily  through the  implementation  of the prospective
payment system ("PPS")  reimbursement system. The Partnership's nursing facility
changed to the PPS reimbursement system on January 1, 1999.  Management believes
that  continued and increased  reductions in therapy  costs,  the use of general
purchasing agents and other expense reduction measures should in part offset the
effect of any rate reductions  arising from the PPS  reimbursement  system.  The
Partnership can give no assurance that payments under such program in the future
will  remain  at a level  comparable  to the  present  level  or  increase,  and
decreases in the level of payments  could have a material  adverse effect on the
Partnership.

New Accounting Pronouncements:
------------------------------

In December 2003, the Financial  Accounting  Standards  Board ("FASB")  issued a
revision to SFAS No.  132,  "Employers'  Disclosures  about  Pensions  and Other
Postretirement  Benefits."  This  statement  does not change the  measurement or
recognition  aspects  for  pensions  and  other  postretirement  benefit  plans;
however, it does revise employers' disclosures to include more information about
the plan assets, obligations to pay benefits and funding obligations.  SFAS 132,
as revised,  is generally  effective for financial  statements with fiscal years
ending after December 15, 2003. The adoption of the required  provisions of SFAS
132, as revised,  is not expected to have a material effect on the Partnership's
consolidated financial statements.

In May 2003,  the FASB issued SFAS No. 150,  "Accounting  for Certain  Financial
Instruments with  Characteristics  of both Liabilities and Equity." SFAS No. 150
clarifies the  definition  of a liability as currently  defined in FASB Concepts
Statement No. 6,  "Elements of Financial  Statements,"  as well as other planned
revisions.  This  statement  requires a financial  instrument  that  embodies an
obligation  of an issuer to be  classified  as a  liability.  In  addition,  the
statement  establishes  standards for the initial and subsequent  measurement of
these financial instruments and disclosure  requirements.  SFAS 150 is effective
for financial  instruments  entered into or modified  after May 31, 2003 and for
all other  matters,  is effective at the beginning of the first  interim  period
beginning after June 15, 2003.

In April 2003,  the FASB issued SFAS No. 149,  "Amendment  of  Statement  133 on
Derivative Instruments and Hedging Activities." SFAS No. 149 amends SFAS No. 133
for decisions made by the FASB's  Derivatives  Implementation  Group, other FASB
projects dealing with financial  instruments,  and in response to implementation
issues raised in relation to the  application of the definition of a derivative.
This  statement is generally  effective for  contracts  entered into or modified
after June 30,  2003 and for  hedging  relationships  designated  after June 30,
2003. The adoption of SFAS 149 is not expected to have a material  effect on the
Partnership's financial position or results of operations.



                                     Page 9
<PAGE>


In January 2003, the FASB issued  Interpretation  ("FIN") No. 46, "Consolidation
of Variable  Interest  Entities" and in December 2003, a revised  interpretation
was issued (FIN No. 46, as  revised).  In general,  a variable  interest  entity
("VIE") is a corporation,  partnership, trust, or any other legal structure used
for business  purposes  that either does not have equity  investors  with voting
rights  or has  equity  investors  that  do  not  provide  sufficient  financial
resources for the entity to support its activities. FIN 46, as revised, requires
a VIE to be consolidated  by a Partnership if that  Partnership is designated as
the  primary  beneficiary.  The  interpretation  applies to VIEs  created  after
January 31, 2003,  and for all financial  statements  issued after  December 15,
2003 for VIEs in which an enterprise  held a variable  interest that it acquired
before February 1, 2003. The adoption of FIN 46, as revised,  is not expected to
have a material  effect on the  Partnership's  financial  position or results of
operations.

ITEM 3   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Partnership has not entered into any transactions using derivative financial
instruments  or other market risk  sensitive  instruments  and believes that its
exposure to market risk  associated with other  financial  instruments  (such as
investments and borrowings) and interest rate risk is not material.


ITEM 4   CONTROLS AND PROCEDURES


This report on Form 10-Q covers the fiscal  quarter  ended March 31, 2002. As of
the end of that period, no evaluation  procedure was specified by the Securities
and Exchange  Commission with respect to the Partnership's  disclosure  controls
and  procedures  (as now  defined by Rules  13a-15(e)  and  15d-15(e)  under the
Securities  Exchange Act of 1934, as amended (the "Exchange Act")). In fact, the
concept of disclosure  controls and  procedures  had not yet been defined by the
above-referenced  rules.  However, in light of the recently adopted requirements
with  respect to  disclosure  controls and  procedures,  John F.  McMullan,  the
principal  executive officer and chief financial officer of the managing general
partner of the Partnership, who performs such functions for the Partnership, has
evaluated the  effectiveness  of the design and  operation of the  Partnership's
disclosure  controls and procedures in connection  with the  preparation of this
report  on Form  10-Q.  Based  on that  evaluation,  he has  concluded  that the
Partnership's  disclosure controls and procedures are effective at ensuring that
required   information   is  made   available  to  him  for  disclosure  in  the
Partnership's  reports filed under the Exchange Act. However, the Partnership is
not timely in filing its reports with the  Securities  and Exchange  Commission.
The  Partnership  is in the process of bringing its filings with the  Securities
and Exchange  Commission up to date and in connection with those efforts intends
to improve its disclosure controls and procedures such that material information
will be made available on a timely basis for disclosure in required reports.


In connection with such review, Mr. McMullan also conducted a preliminary review
of the  Partnership's  internal  control  over  financial  reporting.  While the
Managing Partner (MCII) has an informal system of internal  controls,  given the
size of the Partnership and the control  structures in place at each subsidiary,
management does not believe that any material  weaknesses  exist in the internal
controls  that could have a material  effect on the  financial  reporting of the
Partnership.   Management   intends  to  conduct   additional   reviews  of  the
Partnership's  systems of internal  control,  including  control over  financial
reporting,  and will  seek  appropriate  advice  from its  independent  auditors
regarding recommendations for improving such controls. No changes were been made
in internal control over financial  reporting during the quarter covered by this
report.

                                                                         Page 10
<PAGE>



                           Part II - Other Information

ITEM 6   EXHIBITS AND REPORTS ON FORM 8-K

Exhibit 31.1    Certification Pursuant to 17 CFR 240.13a-14.

Exhibit 32.1    Certification  Pursuant to 18 U.S.C.  Section  1350,  as adopted
                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.






                                                                         Page 11
<PAGE>



                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.




                            CONSOLIDATED RESOURCES HEALTH CARE FUND II

                              By:   WELCARE SERVICE CORPORATION - II
                                    Managing General Partner



Date: August 5, 2004                By:/s/ John F. McMullan
     ------------------                ----------------------------
                                        John F. McMullan
                                        Chief Financial Officer



Date: August 5, 2004                By: /s/ Marilyn McMullan
     ------------------                 ---------------------------
                                        Marilyn McMullan
                                        Assistant Secretary




                                                                         Page 12