U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-QSB


(Mark One)
     (X)  Quarterly Report Under Section 13 or 15(d) of
          the Securities Exchange Act of 1934

          For the Quarterly period ended June 30, 2001


     ( )  Transition Report Under Section 13 or 15(d) of the Exchange Act For
          the Transition period from _____________ to ____________


                         Commission File Number: 0-21604


             Common Goal Health Care Pension and Income Fund L.P. II
        (Exact name of small business issuer as specified in its charter)


            Delaware                                           36-3644837
---------------------------------                        ----------------------
   (State or other Jurisdiction                              (I.R.S. Employer
of incorporation or organization)                         Identification Number)


                        1100 Ocean Shore Blvd., Suite 10
                             Ormond Beach, FL 32176
                         ------------------------------
                    (Address of principal executive offices)


                                 (904) 441-6633
                                 --------------
                           (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. YES  _X_   NO


<PAGE>
                         PART 1 - Financial Information

Item 1.  Financial Statements

             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)

                                 Balance Sheets
<TABLE>
<CAPTION>
                                                                     June 30,   December 31,
                                                                       2001        2000
                                                                   -----------  ----------
                                                                   (Unaudited)

                                     Assets
                                     ------
<S>                                                                <C>             <C>
Cash and cash equivalents                                          $  491,238      431,399
Due from affiliates                                                        --       74,994
Accrued interest receivable                                            78,905       60,730
Mortgage loans receivable - related party                           1,250,000    1,250,000
Accounts receivable-other                                              10,500           --
                                                                   ----------   ----------
Total Assets                                                       $1,830,643   $1,817,123
                                                                   ==========   ==========

                        Liabilities and Partners' Capital
                        ---------------------------------
   Liabilities
Due to affiliates                                                  $   70,612   $   55,070
Accrued distributions                                                  49,124       43,140
Deferred revenue                                                      400,000      400,000
                                                                   ----------   ----------
            Total Liabilities                                         519,736      498,210

   Partners' capital:
         General partner                                               55,872       53,752
         Limited partner                                            1,255,035    1,265,161
                                                                   ----------   ----------
            Total partners' capital                                 1,310,907    1,318,913
                                                                   ----------   ----------
Total Liabilities and Partners' Capital                            $1,830,643   $1,817,123
                                                                   ==========   ==========
</TABLE>

See accompanying notes

                                       2
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)

                              Statements of Income
                                   (Unaudited)
<TABLE>
<CAPTION>
                                    SIX MONTHS ENDED              THREE MONTHS ENDED
                                 June 30,       June 30,        June 30,        June 30,
                                  2001            2000            2001            2000
                                --------        --------        --------        --------
Revenue
-------
<S>                             <C>             <C>             <C>             <C>
   Interest Income              $119,958        $120,522          48,972          56,237
   Other Income                   10,500              --          10,500              --
                                --------        --------        --------        --------
     Total Revenue               130,458         120,522          59,472          56,237

Expenses
--------
   Professional fees              41,279          33,356          33,168          20,295
   Fees to affiliates:
   Management                      2,624           3,494           1,250           2,180
   Mortgage Servicing                500             563             250             281
   Other                           1,252           1,849             681             783
                                --------        --------        --------        --------
      Total Expenses              45,655          39,262          35,349          23,539

   Net Income and
   Comprehensive Income         $ 84,303        $ 81,260        $ 24,123        $ 32,698
                                ========        ========        ========        ========

Net Income allocated to
general partners - 2.5%         $  2,120        $  2,032        $    603        $    817

Net Income allocated to
limited partners - 97.5%          82,683          79,228          23,520          31,881
                                --------        --------        --------        --------
                                $ 84,803        $ 81,260        $ 24,123        $ 32,698
                                ========        ========        ========        ========

Basic earnings per limited
partner unit                    $    .16        $    .15        $    .05        $    .06
                                ========        ========        ========        ========

Weighted average limited         522,116         522,116         522,116         523,116
partner units outstanding       ========        ========        ========        ========
</TABLE>

See accompanying notes.

                                       3
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)

                         Statements of Partners' Capital
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                   SIX  MONTHS ENDED
                                                                        JUNE 30,
                                 ------------------------------------------------------------------------------------
                                                  2001                                        2000
                                 ----------------------------------------    ----------------------------------------

                                                                  TOTAL                                     TOTAL
                                   GENERAL       LIMITED        PARTNERS'      GENERAL       LIMITED       PARTNERS'
                                  PARTNERS       PARTNERS        CAPITAL       PARTNERS      PARTNERS       CAPITAL
                                 ----------------------------------------    ----------------------------------------

<S>                              <C>           <C>            <C>            <C>           <C>            <C>
Balance at beginning of period   $    53,752   $ 1,265,161    $ 1,318,913    $    49,600   $ 1,273,949    $ 1,323,549

Net income                             2,120        82,683         84,803          2,032        79,228         81,260

Distributions to partners               --         (92,809)       (92,809)          --         (85,433)       (85,433)
                                 -----------   -----------    -----------    -----------   -----------    -----------

Balance at end of period         $    55,872   $ 1,255,035    $ 1,310,907    $    51,632   $ 1,267,744    $ 1,319,376
                                 ===========   ===========    ===========    ===========   ===========    ===========
</TABLE>

See accompanying notes.

                                       4
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)

                            Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                       SIX MONTHS ENDED
                                                                    ---------------------

                                                                     June 30,     June 30,
                                                                       2001        2000
                                                                    ---------    ---------
<S>                                                                 <C>          <C>
Cash flows from operating activities:
         Net income                                                 $  84,803    $  81,260
         Adjustments to reconcile net income to net cash
           provided by operating activities:
                  Decrease (increase) in due from affiliates           74,994      (60,475)
                  Decrease (increase) in interest receivable          (18,175)     (13,067)
                  Decrease(increase) in accounts receivable-other     (10,500)
                  Increase (decrease) in due to affiliates             15,542        9,716
                  Decrease (increase) in mortgage
                      loans receivable                                 57,945            -
                                                                    ---------    ---------

                      Net cash provided by operating activities       146,664       75,379
                                                                    ---------    ---------

Cash flows from financing activities:
         Distributions to limited partners                            (86,825)     (81,734)
                                                                    ---------    ---------

                    Net cash used in financing activities             (86,825)     (81,734)
                                                                    ---------    ---------

Net increase in cash and cash equivalents:                             59,839       (6,355)

Cash and cash equivalents, beginning of period                        431,399      423,207
                                                                    ---------    ---------

Cash and cash equivalents, end of period                            $ 491,238    $ 416,852
                                                                    =========    =========
</TABLE>

See accompanying notes.

                                       5
<PAGE>
                             COMMON GOAL HEALTH CARE
                         PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements
                                   (Unaudited)
                                  June 30, 2001


(1)      Organization and Summary of Significant Accounting Policies
         -----------------------------------------------------------

         Common Goal Health Care Pension and Income Fund L.P. II ("Partnership")
         was formed on May 9, 1989, to invest in and make mortgage loans to
         third parties and affiliates involved in health care. On July 2, 1990,
         the Partnership commenced operations, having previously sold more than
         the specified minimum of 117,650 units ($1,176,500). The Partnership's
         offering terminated January 11, 1992 with the Partnership having sold
         522,116 Units ($5,221,160).

         The general partners are Common Goal Capital Group, Inc. II, the
         managing general partner, and Common Goal Limited Partnership II, the
         associate general partner. Under the terms of the Partnership's
         agreement of limited partnership ("Partnership Agreement"), the general
         partners are not required to make any additional capital contributions
         except under certain limited circumstances upon termination of the
         Partnership.

         Under the terms of the Partnership Agreement, the Partnership is
         required to pay a quarterly management fee to the managing general
         partner equal to 1% per annum of adjusted contributions, as defined. A
         mortgage servicing fee equal to .25% per annum of the Partnership's
         outstanding mortgage loan receivable principal amount also is paid
         quarterly to Common Goal Mortgage Company, an affiliate of the
         general partners. Additionally, under the terms of the Partnership
         Agreement, the Partnership is required to reimburse the managing
         general partner for certain operating expenses.

         The Partnership classifies all short-term investments with maturities
         at date of purchase of three months or less as cash equivalents.

         Mortgage loans that have virtually the same risk and potential rewards
         as joint ventures are accounted for and classified as investments in
         operating properties. Cash received related to investments in operating
         properties is recognized as interest income to the extent that such
         properties have earnings prior to the recognition of the distribution
         of cash to the Partnership; otherwise, such cash is recorded as a
         reduction of the related investments.

                                       6
<PAGE>
         An allowance for loan losses will be provided, if necessary, at a level
         which the Partnership's management considers adequate based upon an
         evaluation of known and inherent risks in the loan portfolio. Currently
         management believes no allowance for loan losses is necessary.

         No provision for income taxes has been recorded as the liability of
         such taxes is that of the partners rather than the Partnership.

         Earnings per limited partner unit is computed based on the weighted
         average limited partner units outstanding for the period.

         The accompanying unaudited financial statements as of and for the six
         months ended June 30, 2001 and 2000 are the representation of
         management and reflect all adjustments which are, in the opinion of
         management, necessary to a fair presentation of the financial position
         and results of operations of the Partnership. All such adjustments are
         normal and recurring. These results are not necessarily indicative of
         the results for the entire year.

         These financial statements should be read in conjunction with the
         Company's financial statements and notes included in the Annual Report
         on Form 10-KSB filed by the Company with the Securities and Exchange
         Commission on April 16, 2001.

(2)      Mortgage Loans Receivable-Related Party
         ---------------------------------------


                  St. Catherine's Loans.
                  ---------------------

         The principal balances outstanding for these loans as of June 30, 2001
         were as follows:
<TABLE>
<CAPTION>
                                             Second Mortgage Loans    Third Mortgage Loans
                                             ---------------------    --------------------

         <S>                                     <C>                     <C>
         St. Catherine's of Tiffin               $    51,500             $   51,281
         St. Catherine's of Bloomville                36,000                173,425
         St. Catherine's of Fostoria                 102,000                113,550
         St. Catherine's of Findlay                  142,500                126,379
         St. Catherine's of Washington
         Court House                                  68,000                385,365
                                                 -----------             ----------
                                                     400,000             $  850,000
                                                 ===========             ==========
</TABLE>

         As of June 30, 2001, the second and third Mortgage Loans were current
         as to regular interest. As of April 20, 2001, the Partnership and the
         Borrowers agreed to: (i) extend the terms of the second and third
         Mortgage Loans, which matured on April 20, 2001 to April 20, 2004, so
         that the second and third Mortgage Loans would be coterminous with the
         underlying first mortgage; (ii) adjust the applicable annual interest
         rate payable under the second Mortgage Loans from and after April 20,
         2001, to 9.75%; and

                                       7
<PAGE>
         (iii) adjust the applicable annual interest rate payable under the
         third Mortgage Loans from and after April 20, 2001, to 10.75% and (iv)
         require the St. Catherine's Care Centers to pay extension fees to the
         Partnership totalling $10,500. As of June 30, 2001, the Partnership
         was owed $78,905 on the second and third Mortgage Loans. Included in
         this amount is $69,294 representing all late interest and fees on the
         third Mortgage Loans outstanding as of April 20, 2001. The Borrowers
         agreed to pay the Partnership such amount in the form of a promissory
         note dated as of April 20, 2001, bearing interest at an annual rate of
         seven percent (7%) and payable in monthly installments over twelve
         months. As of August 10, 2001, the Partnership received payment of
         $17,987 on this note.


(3)      Partners' Capital
         -----------------

         On April 13, 2001 the Partnership paid an accrued distribution of
         $43,687 ($.08 per unit) to Limited Partner unitholders of record at
         March 15, 2001. On July 15, 2001, the Partnership paid an accrued
         distribution of $49,124 ($.09 per unit) to Limited Partner unitholders
         of record at June 15, 2001.

Item 2. Management's Discussion and Analysis or Plan of Operation.
        ---------------------------------------------------------

         General
         -------

         Some statements in this Form 10-QSB are forward looking and actual
         results may differ materially from those stated. As discussed herein,
         among the factors that may affect actual results are changes in the
         financial condition of the borrower and/or anticipated changes in
         expenses or capital expenditures.

         Common Goal Health Care Pension and Income Fund L.P. II, a Delaware
         limited partnership (the "Partnership"), was formed to make mortgage
         loans secured by a mix of first and junior liens on health care-related
         properties. The Partnership commenced its offering of Units to the
         public on January 12, 1990, and commenced operations on July 2, 1990
         (having sold the Minimum Number of Units as of that date). After having
         raised $5,221,160 by selling Units to 483 investors, the Partnership
         terminated the public offering on January 11, 1992. The Partnership
         holds ten mortgage loans (the "Mortgage Loans"), consisting of second
         and third positions, secured by properties owned by affiliated entities
         (the "St. Catherine's Care Centers").

         The Partnership's Mortgage Loans pay Basic Interest which is payable at
         higher rates than are being earned on temporary investments and provide
         for payments of Additional Interest and Participations. The movement of
         funds from Mortgage Loans to short-term investments has increased the
         Partnership's overall liquidity, but has lowered expected interest
         income. The Partnership has structured its Mortgage Loans to provide
         for payment of quarterly distributions to Limited Partners from
         investment income.


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

         Partnership assets increased from $1,817,123 at December 31, 2000 to
         $1,830,643 at June 30, 2001.

                                       8
<PAGE>
         The increase of $13,520 resulted primarily from net earnings for the
         period partially offset by cash distributions on April 15, 2001 and a
         transfer from Common Goal Fund I for payment on accounts receivable. As
         of June 30, 2001 the Partnership's loan portfolio consisted of ten
         mortgage loans secured by properties owned by affiliated entities (the
         "St. Catherine's Care Centers"), the aggregate outstanding principal
         balance of which was $ 1,250,000.

         The Partnership has structured its Mortgage Loans to provide for
         payment of quarterly distributions from investment income. The interest
         derived from the Mortgage Loans, repayments of Mortgage Loans and
         interest earned on short-term investments contribute to the
         Partnership's liquidity. These funds are used to make cash
         distributions to Limited Partners and to pay normal operating expenses
         as they arise.

         The Partnership intends to maintain working capital reserves equal to
         approximately 2% of gross proceeds of the offering (approximately
         $104,423 ), an amount which is anticipated to be sufficient to satisfy
         liquidity requirements. The Managing General Partner continues
         monitoring the level of working capital reserves.

         The second and third Mortgage Loans were current as to regular
         interest as of June 30, 2001. As of June 30, 2001 the Partnership was
         owed $78,905 of interest and fees. Included in this amount is $69,294
         representing all late interest and fees on the third Mortgage Loans
         outstanding as of April 20, 2001. The Borrowers agreed to pay the
         partnership such amount in the form of a promissory note dated as of
         April 20, 2001, bearing interest at an annual rate of seven percent
         (7%) and payable in monthly installments over twelve months. As of
         August 10, 2001, the Partnership received payment of $17,987 on this
         note.

         The April 20, 2001 maturity date of the senior debt secured by the St.
         Catherine's Care Centers' properties (the "Senior Debt"), as well as of
         the Partnership's Mortgage Loans has been extended to April 20, 2004 as
         further described below.

         The St. Catherine's Care Centers have refinanced the Senior Debt. The
         refinanced Senior Debt has a term of three years and a fixed interest
         rate of 8.25% per year (the "Senior Debt Rate"). As of April 20, 2001,
         the Partnership and the St. Catherine's Care Centers entered into
         agreements to: (i) extend the terms of the second and third Mortgage
         Loans, so that he maturity dates will coincide with the maturity date
         of refinanced Senior Debt (April 20, 2004); (ii) adjust the applicable
         annual interest rate payable under the second Mortgage Loans from and
         after April 20, 2001, to 9.75% (or 1.5% above the Senior Debt Rate);
         (iii) adjust the applicable annual interest rate payable under the
         third Mortgage Loans from and after April 20, 2001, to 10.75% (or 2.5%
         above the Senior Debt Rate); and (iv) require the St. Catherine's Care
         Centers to pay extension fees to the Partnership totaling $10,500. The
         adjustment to the interest rates of the second and third Mortgage
         Loans reflect current market rates that the General Partner believes
         should be applicable to the Mortgage Loans, as extended. The aggregate
         principal amount of the refinanced second and third Mortgage Loans
         held by the Partnership equals $1,250,000. In connection with the
         refinancings of the Mortgage Loans, the St. Catherine's Care Centers
         additionally agreed as of April 20, 2001, to pay the Partnership
         $69,294 representing all late interest and fees on the third Mortgage
         Loans outstanding as of April 20, 2001. The Borrowers agreed to pay
         the Partnership such amount in the form of a promissory note dated as
         of April 20, 2001, bearing interest at an annual rate of seven percent
         (7%) and payable in monthly installments over twelve months. As of
         August 10, 2001, the Partnership received payment of $17,987 on this
         note.

         In addition to the second and third Mortgage Loans, there is a
         contingent payment obligation by St. Catherine's of Seneca, Inc. in the
         amount of $202,500 and a contingent payment obligation by

                                       9
<PAGE>
         St. Catherine's Care Centers of Fostoria, Inc. in the amount of
         $238,000 (collectively the "CPOs"). Due to the contingent nature of
         the $440,500 in participation income due to the Partnership related to
         the CPOs, such amount has not been recorded as an asset of the
         Partnership and the participation income and interest earned on the
         CPOs will be recognized only when received.

         The facilities underlying the Partnership's Mortgage Loans were leased
         to an unaffiliated third party in November 1998 (the "Lessee"). The
         Lessee continues to lease the facilities. The Lessee did not assume the
         St. Catherine's Loans.


         Results of Operations
         ---------------------

         As of June 30, 2001 the  Partnership's  loan portfolio  consisted of
         ten mortgage loans secured by properties owned by the St. Catherine's
         Care Centers.

         The maturity date of the senior debt secured by the St. Catherine's
         Care Centers' properties, as well as the Partnership's mortgage loans,
         was April 20, 2001. The St. Catherine's Care Centers have refinanced
         the senior debt secured by their properties, and the Partnership has
         entered into agreements with the St. Catherine's Care Centers providing
         for the extension of the maturity dates of all the Partnership's
         outstanding loans to the St. Catherine's Care Centers, as discussed in
         "Liquidity and Capital Resources," above.

         During the three months ended June 30, 2001 and 2000, the Partnership
         had net income of $24,123 and $32,698, based on total revenue of
         $59,472 and $56,237 and total expenses of $35,349 and $23,539,
         respectively. For the three months ended June 30, 2001 and 2000, the
         net earnings per limited partner unit were $.05 and $.06,
         respectively.

         The decrease in net income of $8,575 for the three months ended June
         30, 2001, compared to the three months ended June 30, 2000, is
         primarily due to an increase in professional fees related to extending
         the second and third Mortgage Loans.

         During the six months ended June 30, 2001 and 2000, the Partnership had
         net income of $84,803 and $81,260, based on total revenue of $130,458
         and $120,522 and total expenses of $45,655 and $39,262. For the six
         months ended June 30, 2001 and 2000, the net earnings per limited
         partner unit were $.16 and $.15 respectively.

         The increase in net income of $3,543 for the six months ended June 30,
         2001, compared to the six months ended June 30, 2000, is due to an
         increase of $10,500 in other income partially offset by an increase of
         $7,923 in professional fees.

         The Partnership's success and the resultant rate of return to Limited
         Partners will be dependent upon, among other things, the ability of the
         Managing General Partner to identify suitable opportunities for the
         Partnership to reinvest its assets and the ability of the borrowers to
         pay the current interest, additional interest and principal of the
         Mortgage Loans.

         PART II - OTHER INFORMATION

         Items 1 through 5 are omitted because of the absence of conditions
         under which they are required.

         Item 6.  Exhibits and Reports on Form 8-K

                                       10
<PAGE>
                  (a)   Exhibits
                        None

                  (b)   Reports on Form 8-K
                        The Partnership filed Reports on Form 8-K on May 4, 2001
                        and on May 15, 2001 regarding the refinancing of the
                        senior debt secured by the St. Catherine's Care Centers'
                        properties and the extensions of the Morgage Loans.



                                       11
<PAGE>
                                   SIGNATURES


In accordance with the requirements of the Exchange Act, the registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


             Common Goal Health Care Pension and Income Fund L.P. II
             -------------------------------------------------------
                                  (Registrant)



                                      By:  Common Goal Capital Group, Inc., II
                                           Managing General Partner



DATED: August 14, 2001                     /s/Albert E. Jenkins, III
                                           -------------------------
                                           Albert E. Jenkins, III
                                           President, Chief Executive Officer
                                           and Acting Chief Financial Officer


                                       12