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                     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 March 31, 2000


         ( )     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)


                                 215 Main Street
                            Penn Yan, New York 14527
                         -------------------------------
                    (Address of principal executive offices)


                                 (315) 536-5985
                              ---------------------
                           (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)
<TABLE>
<CAPTION>
                                 Balance Sheets
                                                                      March 31,  December 31,
                                                                        2000        1999
                                                                    -----------  ----------
                                                                    (Unaudited)
<S>                                                                 <C>          <C>
                                     Assets
                                     ------
Cash and cash equivalents                                           $  437,477   $  423,207
Due from affiliates                                                     75,501       16,038
Accrued interest receivable                                             69,013       65,126
Mortgage loans receivable                                            1,250,000    1,307,945
                                                                    ----------   ----------

Total Assets                                                        $1,831,991   $1,812,316
                                                                    ==========   ==========

                        Liabilities and Partners' Capital
                        ---------------------------------

   Liabilities
Due to affiliates                                                   $   54,652   $   50,781
Accrued distributions                                                   43,748       37,986
Deferred revenue                                                       400,000      400,000
                                                                    ----------   ----------
            Total Liabilities                                          498,400      488,767

   Partners' capital:
         General partner                                                50,945       49,600
         Limited partner                                             1,282,646    1,273,949
                                                                    ----------   ----------
            Total partners' capital                                  1,333,591    1,323,549
                                                                    ----------   ----------
Total Liabilities and Partners' Capital                             $1,831,991   $1,812,316
                                                                    ==========   ==========
</TABLE>

See accompanying notes

                                        2
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)
<TABLE>
<CAPTION>
                              Statements of Income
                                   (Unaudited)

                                                           THREE MONTHS ENDED
                                                                March 31,
                                                         2000             1999
                                                       --------         --------
<S>                                                    <C>              <C>
Revenue
-------

         Interest Income                               $ 63,335         $ 58,155
                                                       --------         --------
            Total Revenue                                63,335           58,155

Expenses
--------

         Professional fees                                2,430            9,717
         Fees to affiliates:
          Management                                      1,802            2,805
          Mortgage Servicing                                282              282
         Other                                            5,031            2,056
                                                       --------         --------
            Total Expenses                                9,546           14,860
                                                       --------         --------

         Net Income and
         Comprehensive Income                          $ 53,790         $ 43,295
                                                       ========         ========

Net Income allocated to
 general partners - 2.5%                               $  1,345         $  1,082

Net Income allocated to
 limited partners - 97.5%                                52,445           42,213
                                                       --------         --------
                                                       $ 53,789         $ 43,295
                                                       ========         ========

Basic earnings per limited
 partner unit                                          $    .10         $    .08
                                                       ========         ========

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

See accompanying notes.

                                        3
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)
<TABLE>
<CAPTION>
                         Statements of Partners' Capital
                                   (Unaudited)

                                                                  THREE MONTHS ENDED
                                                                       MARCH 31,
                                                    2000                                       1999
                                -----------------------------------------   -----------------------------------------

                                                                  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   $    49,600   $ 1,273,949    $ 1,323,549    $    45,308   $ 1,474,084   $ 1,519,392

Net income                             1,345        52,445         53,790          1,082        42,213        43,295

Distributions to partners               --         (43,748)       (43,748)          --            --            --
                                 -----------   -----------    -----------    -----------   -----------   -----------

Balance at end of period         $    50,945   $ 1,282,646    $ 1,333,591    $    46,390   $ 1,516,297   $ 1,562,687
                                 ===========   ===========    ===========    ===========   ===========   ===========
</TABLE>

See accompanying notes.



                                        4
<PAGE>
             COMMON GOAL HEALTH CARE PENSION AND INCOME FUND L.P. II
                        (A Delaware Limited Partnership)
<TABLE>
<CAPTION>
                            Statements of Cash Flows
                                   (Unaudited)

                                                                     THREE MONTHS ENDED
                                                                     ------------------
                                                                          March 31,
                                                                     2000         1999
                                                                  ---------    ---------
<S>                                                               <C>          <C>
Cash flows from operating activities:
         Net income                                               $  53,790    $  43,295
         Adjustments to reconcile net income to net cash
           provided by operating activities:
                  Decrease (increase) in due from affiliates        (59,463)      (1,516)
                  Decrease (increase) in interest receivable         (3,887)      (8,206)
                  Increase (decrease) in due to affiliates            3,871         (663)
                  Decrease (increase) in mortgage
                      loan receivable                                57,945         --
                                                                  ---------    ---------
                      Net cash provided by operating activities      52,256       32,910
                                                                  ---------    ---------
Cash flows from investing activities:
                  Loan to affiliates                                   --           --
                                                                  ---------    ---------
                     Net cash used in investing activities             --           --
                                                                  ---------    ---------

Cash flows from financing activities:
         Distributions to limited partners                          (37,986)    (250,000)
                                                                  ---------    ---------
                    Net cash used in financing activities           (37,986)    (250,000)
                                                                  ---------    ---------

Net decrease in cash and cash equivalents:                           14,270     (217,090)

Cash and cash equivalents, beginning of period                      423,207      839,759
                                                                  ---------    ---------

Cash and cash equivalents, end of period                          $ 437,477    $ 622,669
                                                                  =========    =========
</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)
                                 March 31, 2000


(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 that
         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.


                                        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 three
         months  ended  March  31,  2000  and  1999  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 14, 2000.

(2)      Mortgage Loans Receivable
         -------------------------


         The Joint Venture Loan

         This loan was repaid in full on February 14, 2000  including  $7,355 of
         participation interest.

         St. Catherine's Loan.
         --------------------

         The principal balances outstanding for these loans as of March 31, 2000
were as follows:

                                      Second Mortgage Loan   Third Mortgage 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
                                          ==========             ==========

                                        7
<PAGE>
         As of March 31,  2000,  the second  Mortgage  Loans were current as to
         regular  interest.  The third  Mortgage  Loans were not  current as to
         regular  interest  as of  March  31,  2000.  The  Partnership  and the
         Borrowers are currently in the process of  renegotiating  the terms of
         the  second  Mortgage  Loans  which  matured  on April  30,  2000.  An
         agreement  has not yet been  reached  with  terms  acceptable  to both
         parties.  The borrowers are paying additional  interest at the penalty
         rate of 3% per annum.  As of March 31, 2000, the  Partnership was owed
         $45,811 in interest on the Third Mortgage  Loans,  of which $3,887 was
         at the 3% penalty rate. The  Partnership is working with the borrowers
         to bring the third Mortgage Loans current.

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

         On April 14, 2000, the Partnership  declared and paid a distribution of
         $43,748  ($.08 per unit) to Limited  Partner  unitholders  of record at
         March 15, 2000.


Item 2. Managements Discussion and Analysis or 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  borrower  and/or  anticipated  changes in
         expenses or capital expenditures, and compliance with year 2000 issues.

         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'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.

                                        8
<PAGE>
         Liquidity and Capital Resources
         -------------------------------

         Partnership  assets  increased from  $1,812,316 at December 31, 1999 to
         $1,831,991  at  March  31,  2000.  The  increase  of  $19,675  resulted
         primarily  from cash  distributions  on January 15, 2000, of $37,986 to
         the Limited  Partners that was partially offset by net earnings for the
         period.  The Partnership  also received  $57,945  (including  $7,355 of
         participation  interest) in payment of one of its mortgage loans. As of
         March 31,  2000 the  Partnership's  loan  portfolio  consisted  of five
         mortgage loans, the aggregate  outstanding  principal  balance of which
         was $1,307,945.

         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  at March 31,  2000),  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  Mortgage  Loans were  current as to regular  interest as of
         March 31, 2000. See Note 2 to the Financial Statements herein regarding
         renegotiation  of the  Partnership's  second Mortgage Loans.  The third
         Mortgage Loans were not current as to regular  interest as of March 31,
         2000. The  Partnership is working with the borrowers to bring the third
         Mortgage Loans current.  As of March 31, 2000 the  Partnership was owed
         $45,811 of interest.  The borrowers are paying  additional  interest at
         the penalty rate of 3% per annum.

         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 expect the Partnership's earnings to
         remain relatively constant.

         During the three months ended March 31, 2000 and 1999, the  Partnership
         had net  earnings of $53,789  and  $43,295,  based on total  revenue of
         $63,335 and $58,155 and total  expenses of $9,546 and $14,860.  For the
         three  months  ended  March 31,  2000 and 1999,  the net  earnings  per
         limited partner unit was $.10 and $.08 respectively.

         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

                                        9
<PAGE>
         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

                  (a)      Exhibits
                           Exhibit 27, Financial Data Schedule

                  (b)      Reports on Form 8-K
                           None




                                       10
<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: May 15, 2000                      /s/Albert E. Jenkins, III
                                         -------------------------
                                         Albert E. Jenkins, III
                                         President, Chief Executive Officer
                                         and Acting Chief Financial Officer



                                       11