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, 2002


         (   )    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)


                                 (386) 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

                                                    June 30,        December 31,
                                                      2002              2001
                                                  -----------       ------------
                                                  (Unaudited)

                                     ASSETS
                                     ------

Cash and cash equivalents                         $  456,003            472,242
Accrued interest receivable - related party           21,134             25,515
Note receivable                                            -             23,661
Mortgage loans receivable - related party          1,250,000          1,250,000
                                                  ----------          ---------

Total Assets                                      $1,727,137         $1,771,418
                                                  ==========         ==========

                        LIABILITIES AND PARTNERS' CAPITAL
                        ---------------------------------

LIABILITIES
-----------
Due to affiliates                                 $   56,353         $   61,130
Accrued distributions                                 44,839             47,224
Deferred revenue                                     400,000            400,000
                                                  ----------         ----------
         Total Liabilities                           501,192            508,354
                                                  ----------         ----------

PARTNERS' CAPITAL:
-----------------
General partners                                      58,388             56,997
Limited partners (522,116 units issued
 and outstanding)                                  1,167,557          1,206,067
                                                  ----------         ----------
         Total partners' capital                   1,225,945          1,263,064
                                                  ----------         ----------
Total Liabilities and Partners' Capital           $1,727,137         $1,771,418
                                                  ==========         ==========

See accompanying notes


<PAGE>
<TABLE>
<CAPTION>


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

                                        Statements of Income
                                             (Unaudited)

                                           SIX MONTHS ENDED               THREE MONTHS ENDED
                                      June 30,        June 30,         June 30,       June 30,
                                        2002            2001             2002           2001
----------------------------------------------------------------------------------------------


Revenue
<S>                                  <C>            <C>              <C>            <C>

         Interest Income             $   89,254     $  119,958       $   44,682     $   48,972
         Other Income                     2,065         10,500              860         10,500
                                     ----------     ----------       ----------     ----------

                  Total Revenue      $   91,319     $  130,458       $   45,542     $   59,472

EXPENSES
--------

         Professional fees               31,913         41,279           16,012         33,168
         Fees to affiliates:
         Management                       1,902          2,624              892          1,250
         Mortgage Servicing                 500            500              250            250
         Other                            1,380          1,252              863            681
                                     ----------      ---------       ----------     ----------
            Total Expenses               35,695         45,655           21,292         35,349

         Net Income and
         Comprehensive Income        $   55,624     $   84,303       $   24,249     $   24,123
                                     ==========     ==========       ==========     ==========

Net Income allocated to
general partners - 2.5%              $    1,391     $    2,120       $      606     $      603

Net Income allocated to
limited partners - 97.5%                 54,233         82,683           23,643         23,520
                                     ----------     ----------       ----------     ----------
                                     $   55,624     $   84,803       $   24,249     $   24,123
                                     ==========     ==========       ==========     ==========

Basic earnings per limited
partner unit                         $      .12   $        .16       $      .05     $      .05
                                     ==========   ============       ==========     ==========

Weighted average limited                522,116        522,116          522,116        522,166
partner units outstanding            ==========      =========       ==========     ==========

See accompanying notes.
</TABLE>


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

                                                    Statements of Partners' Capital
                                                              (Unaudited)

                                                                SIX  MONTHS ENDED
                                                                      JUNE 30,
                                                 2002                                        2001
                                 ------------------------------------    ---------------------------------------
                                                             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    $56,997    $1,206,067    $1,263,064   $   53,752    $1,265,161    $1,318,913

Net income                          1,391        54,233        55,264        2,120        82,683        84,803

Distributions to partners               -       (92,743)      (92,743)           -       (92,809)      (92,809)
                               ----------    ----------    ----------   ----------    ----------    ----------

Balance at end of period       $   58,388    $1,167,557    $1,225,945   $   55,872    $1,255,035    $1,310,907
                               ==========    ==========    ==========   ==========    ==========    ==========


See accompanying notes.
</TABLE>

<PAGE>

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

                                        Statements of Cash Flows
                                               (Unaudited)
                                                                                 SIX MONTHS ENDED
                                                                                 ----------------
                                                                           June 30,            June 30,
                                                                             2002                2001
                                                                          ----------         ----------
<S>                                                                       <C>                <C>
Cash flows from operating activities:
         Net income                                                       $   55,264         $   84,803
         Adjustments to reconcile net income to net cash
           provided by operating activities:
                  Decrease (increase) in due from affiliates                  (4,777)            74,994
                  Decrease (increase) in interest receivable                   4,381            (18,175)
                  Decrease (increase) in accounts receivable other                              (10,500)
                  Increase (decrease) in due to affiliates                                       15,542
                  Decrease (increase) in mortgage loans receivable                               57,945
                                                                          ----------         ----------
                      Net cash provided by operating activities               55,228            146,664
                                                                          ----------         ----------

Cash flows from financing activities:
         Distributions to limited partners                                   (95,128)           (86,825)
                                                                          ----------         ----------
         Payments received on note receivable                                 23,661
                    Net cash used in financing activities                    (71,467)           (86,825)
                                                                          ----------         ----------

Net increase in cash and cash equivalents:                                   (16,239)            59,839

Cash and cash equivalents, beginning of period                               472,242            431,399
                                                                          ----------         ----------

Cash and cash equivalents, end of period                                  $  456,003         $  491,238
                                                                          ==========         ==========

See accompanying notes.

</TABLE>
<PAGE>


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

                          Notes to Financial Statements
                                   (Unaudited)
                                 March 31, 2002


(1)  (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 to be
          paid 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.

          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,  2002  and  2001  are the  representation  of
          management  and reflect all  adjustments  which are, in the opinion of
          management,  necessary  for  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 1, 2002.

(2)       MORTGAGE LOANS RECEIVABLE

          LOANS TO ST. CATHERINE'S CENTERS.
          --------------------------------

          As  of  March  31,  2002,  the   Partnership  had  10  mortgage  loans
          outstanding to affiliated  borrowers (the  "Borrowers").  The mortgage
          loans are secured by second and third positions on properties owned by
          the Borrowers (the properties being collectively  referred as the "St.
          Catherine's  Centers" and the mortgage  loans being referred to as the
          "St.  Catherine's  Loans"). The principal balances outstanding for the
          St. Catherine's Loans as of March 31, 2002 were as follows:

                                           SECOND MORTGAGE     THIRD MORTGAGE
                                               LOAN                 LOAN
                                           ---------------     --------------

         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
                                             ==========          ==========

<PAGE>

     On April 20, 2001, the Partnership  and the Borrowers  agreed to (i) extend
the terms of the second and third  mortgage  loans,  which had been scheduled to
mature  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%;  (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 Borrowers to pay extension fees to the
Partnership  totaling $10,500.  The Borrowers paid the $10,500 extension fees on
August 31,  2001.  As of June 30,  2002,  the  Borrowers  were  current in their
payments  on the second  and third  mortgage  loans.  As of June 30,  2002,  the
Partnership's  mortgage  loans had accrued  $20,600 of interest  payable for the
second quarter of 2002,  which interest was due and payable in the third quarter
of 2002. Additionally, as of March 31, 2002, the Borrowers had completely repaid
a promissory note issued in connection with interest and fees that had been past
due on April 20, 2001, when the mortgage loans were refinanced. As of that date,
the Partnership was owed $69,294 for such late interest and fees. The promissory
note issued on April 20, 2001,  required  payments of interest at an annual rate
of  7%  and  was  payable  in  monthly  installments  over  twelve  months.  The
Partnership  received interest payments of approximately $2,600 over the life of
the promissory note.

     On August 5, 2002, the board of directors of the Managing  General Partner,
acting in its  capacity  as General  Partner of the  Partnership,  approved  the
subdivision  and release of 8.926  acres of land held as part of the  collateral
for the  Partnership's  Second and Third Mortgage Loans made to St.  Catherine's
Care Center of Findlay,  Inc., which Loans are secured by the St. Catherine's of
Findlay  Facility,  including the underlying  land.  The first mortgage  lender,
South  Trust  Bank (the  "First  Lender"),  also  approved  the  release  of the
subdivided parcel.

     Borrower and its affiliates  intend to build 48  independent  housing units
for the elderly,  financed under the IRC Section 42 Tax Credit  Program,  on the
land. The Managing  General  Partner  believes this  subdivision and development
could enhance the value and stability of the nursing care facility, which is the
principal  collateral for the two Mortgage Loans,  and accordingly has consented
to the release.  The  Partnership  will receive  payment of $4,796.81 plus legal
fees for release of the parcel.  The payment  will be applied to loan  principal
based on the  relative  amounts  of the two  Mortgage  Loans.  Such  amount  was
determined  based on the  formulation  used by the First Lender to calculate the
value of the subdivided property for purposes of its release.

(3)       PARTNERS' CAPITAL
          -----------------

          On April 22, 2002, the  Partnership  paid an accrued  distribution  of
          $47,904  ($.09 per unit) to Limited  Partner unit holders of record at
          March  15,  2001.  On April  13,  2002,  the  Partnership  declared  a
          distribution  of  $44,839  ($.09 per  unit) to  Limited  Partner  unit
          holders of record at June 30, 2002, which  distribution was made on or
          about July 15, 2002.

          Since the  Partnership's  inception,  the Limited Partner unit holders
          have received $5,901,648 in cumulative distributions.

Item 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATIONS.
          ----------------------------------------------------------

          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 Borrowers  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 has 10 mortgage loans,  consisting of second
          and  third  positions   secured  by  properties  owned  by  affiliated
          entities.

          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  under
          certain  conditions.  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  decreased from $1,771,418 at December 31, 2001 to
          $1,731,835  at  June  30,  2002.  The  decrease  of  $39,583  resulted
          primarily from cash distributions  during the period ($92,743),  being
          partially offset by net earnings for the period ($60,323).  As of June
          30, 2002, the Partnership's  loan portfolio  consisted of ten mortgage
          loans secured by properties owned by the St. Catherine's Care Centers,
          the aggregate outstanding principal balance of which was $ 1,250,000.

          The  Partnership has structured the St.  Catherine's  Loans to provide
          for payment of quarterly  distributions  from investment  income.  The
          interest derived from the St.  Catherine's  Loans,  repayments thereof
          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  maintains  working  capital  reserves of 2% of gross
          proceeds  of the  offering,  an  amount  which  is  anticipated  to be
          sufficient to satisfy  liquidity  requirements.  The Managing  General
          Partner continues monitoring the level of working capital reserves.

          All the second  and third  mortgage  loans were  current as to regular
          interest as of June 30, 2002. As of June 30, 2002, the Partnership had
          accrued  $20,600 of  interest  payable  for the first  quarter for the
          second and third  mortgage  loans,  which  interest  is payable in the
          third quarter of 2002. As of June 30, 2002, the Borrowers were current
          in their  payments  on the second and third  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. As of June
          30, 2002, the  Partnership  had been  completely  repaid all such late
          interest and fees together with interest thereon  calculated at a rate
          of 7% per annum (interest payments of approximately $2,600).

          The St.  Catherine's Care Centers extended 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 the Partnership's  mortgage
          loans to April 20,  2004.  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 the  maturity
          dates will  coincide  with  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 add third  mortgage  loans  reflected
          then  current  market  rates that the General  Partner  believed to 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  addition  to the St.  Catherine's  Loans,  there  is a  contingent
          payment  obligation  owed by St.  Catherine's  of Seneca,  Inc. in the
          amount of $202,500 and a  contingent  payment  obligation  owed by St.
          Catherine's  Care Centers of Fostoria,  Inc. in the amount of $238,000
          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 St. Catherine's 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
          ---------------------

          The  Partnership  commenced  operations  July 2, 1990,  and funded its
          first  mortgage  loan in  November  1990.  As of June  30,  1991,  the
          Partnership  had  completed  its  portfolio  of  Mortgage  loans.  The
          interest  earned  on  these   investments  has  stabilized  on  a  tax
          accounting  basis.  Accordingly,  the  General  Partners  expects  the
          Partnership's   earnings  to  remain  relatively  constant  until  its
          remaining loans mature in 2004.

          During the six months  ended June 30, 2002 and 2001,  the  Partnership
          had net  earnings of $55,624 and  $84,805,  based on total  revenue of
          $91,319 and  $130,458 and total  expenses of $35,695 and $45,655.  For
          the six months  ended June 30,  2002 and 2001,  the net  earnings  per
          limited partner unit were $.12 and $.16 respectively.

          The  decrease in net earnings of $28,679 for the six months ended June
          30, 2002,  compared to the six months ended June 30, 2001, is due to a
          decrease  in  interest  income  of  $30,704  resulting  from the lower
          interest  rate on the  loans  refinanced  in  April  2001  and on cash
          balances,  and the absence of income from late fees during the quarter
          ended June 30, 2002.

          The Partnership  does not presently plan to make  additional  mortgage
          loans and  accordingly  expects to liquidate  once the mortgage  loans
          mature in 2004.

          Because of recent poor financial  performance  of the St.  Catherine's
          Care  Centers  of  Findlay,   Fostoria  and  Washington   Court  House
          facilities  which are leased by the  Borrowers to CHS  Northwest,  the
          Managing  General Partner has begun requiring the Borrowers to provide
          the consolidated  financial statements of the tenant as well. Based on
          the Managing  General  Partner's  review,  CHS Northwest,  the tenant,
          appears to have the  financial  ability  to  continue  fulfilling  the
          requirements of the leases; however, the Managing General Partner will
          continue to monitor the  tenant's  financial  condition as well as the
          financial  condition of the facilities.  The tenant has made all lease
          payments to the  Borrowers,  who in turn are  current on the  Mortgage
          Loans held by the Partnership.


          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

                  (a)      Exhibits
                           99.1  Certification  of CEO and CFO  pursuant  to 18
                           U.S.C. Section  1350,  as adopted  pursuant  to
                           Section  906 of the Sarbanes-Oxley Act of 2002.

                  (b)      Reports on Form 8-K
                           None


<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, 2002                   /s/Albert E. Jenkins, III
                                         ----------------------------------
                                         Albert E. Jenkins, III
                                         President, Chief Executive Officer
                                         and Acting Chief Financial Officer



<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, 2002
                                          /s/ Albert E. Jenkins, III
                                          ---------------------------------
                                          Albert E. Jenkins, III
                                          President, Chief Executive Officer
                                          and Acting Chief Financial Officer