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 September 30, 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

                                                           September 30   December 31
                                                               2000          1999
                                                           ------------   -----------
                                                            (Unaudited)

<S>                                                         <C>          <C>
                                     Assets
                                     ------
Cash and cash equivalents                                   $  421,528   $  423,207
Due from affiliates                                             74,995       16,038
Accrued interest receivable                                     69,910       65,126
Mortgage loans receivable                                    1,250,000    1,307,945
                                                            ----------   ----------

Total Assets                                                $1,816,433   $1,812,316
                                                            ==========   ==========

                        Liabilities and Partners' Capital
                        ---------------------------------
   Liabilities
   -----------
Due to affiliates $                                             53,487   $   50,781
Accrued distributions                                           42,153       37,986
Deferred revenue                                               400,000      400,000
                                                            ----------   ----------
            Total Liabilities                                  495,640      488,767

   Partners' capital:
   ------------------
         General partner                                        52,721       49,600
         Limited partner                                     1,268,072    1,273,949
                                                            ----------   ----------
            Total partners' capital                          1,320,793    1,323,549
                                                            ----------   ----------
Total Liabilities and Partners' Capital                     $1,816,433   $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    NINE MONTHS ENDED
                                 Sept 30    Sept 30    Sept 30    Sept 30
                                  2000       1999        2000      1999
                                --------   --------   --------   --------
<S>                             <C>        <C>        <C>        <C>
Revenue
-------
         Interest Income        $ 55,103   $ 50,818   $175,626   $165,210
                                --------   --------   --------   --------
            Total Revenue         55,103     50,818    175,626    165,210

Expenses
--------
         Professional fees         9,732     27,446     43,088     59,258
         Fees to affiliates:
         Management                1,191      2,068      4,685      7,054
         Mortgage Servicing          208        282        771        845
         Other                       402        391      2,252      1,430
                                --------   --------   --------   --------
            Total Expenses        11,533     30,187     50,796     68,587

         Net Income and
         Comprehensive Income   $ 43,570   $ 20,631   $124,830   $ 96,623
                                ========   ========   ========   ========

Net Income allocated to
general partners - 2.5%         $  1,089   $    516   $  3,121   $  2,415

Net Income allocated to
limited partners - 97.5%          42,481     20,115    121,709     94,208
                                --------   --------   --------   --------
                                $ 43,570   $ 20,631   $124,830   $ 96,623
                                ========   ========   ========   ========

Basic earnings per limited
partner unit                    $    .08   $    .04   $    .24   $    .18
                                ========   ========   --------   --------

Weighted average limited         522,116    522,116    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)


                                NINE MONTHS ENDED
                                  SEPTEMBER 30,

                                                   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                             3,121       121,709        124,830          2,415        94,208         96,623

Distributions to partners               --        (127,586)      (127,586)          --        (329,530)      (329,530)
                                 -----------   -----------    -----------    -----------   -----------    -----------

Balance at end of period         $    52,721   $ 1,268,072    $ 1,320,793    $    47,723   $ 1,238,762    $ 1,286,485
                                 ===========   ===========    ===========    ===========   ===========    ===========
</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)

                                                                   NINE MONTHS ENDED
                                                                   -----------------

                                                                September 30  September 30
                                                                   2000          1999
                                                                -----------   ------------
<S>                                                               <C>          <C>
Cash flows from operating activities:
         Net income                                               $ 124,830    $  96,623
         Adjustments to reconcile net income to net cash
           provided by operating activities:
                  Decrease (increase) in due from affiliates        (58,957)      (4,553)
                  Decrease (increase) in interest receivable         (4,784)       2,882
                  Increase (decrease) in due to affiliates            2,706        3,144
                  Decrease (increase) in mortgage
                      loan receivable                                57,945         --
                                                                  ---------    ---------
                      Net cash provided by operating activities     121,740       98,096
                                                                  ---------    ---------
Cash flows from investing activities:
                  Loan to affiliates                                   --           --
                                                                  ---------    ---------
                     Net cash used in investing activities             --           --
                                                                  ---------    ---------

Cash flows from financing activities:
         Distributions to limited partners                         (123,419)    (540,906)
                                                                  ---------    ---------
                    Net cash used in financing activities          (123,419)    (540,906)
                                                                  ---------    ---------

Net decrease in cash and cash equivalents:                           (1,679)    (442,810)

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

Cash and cash equivalents, end of period                          $ 421,528    $ 396,949
                                                                  =========    =========
</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)
                               September 30, 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
         and  nine   months   ended   September   30,  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  in  May,  2000  including  $7,355  of
         participation interest.

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

         The principal balances  outstanding for these loans as of September 30,
         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 September 30, 2000, the second  Mortgage Loans were current as to
         regular  interest.  The third  Mortgage  Loans  were not  current as to
         regular  interest as of September  30, 2000.  The  Partnership  and the
         Borrowers have agreed to extend the terms of the Second Mortgage Loans,
         which  matured on April 30, 2000 to April 20, 2001,  so that the Second
         Mortgage Loans would be coterminous with the underlying first mortgage.
         The borrowers are paying additional  interest at the penalty rate of 3%
         per annum, in addition to Basic Interest, pending documentation.  As of
         September 30, 2000, the Partnership was owed $56,342 in interest on the
         Third Mortgage  Loans, of which $14,438 was at the 3% penalty rate. The
         Partnership  is working with the borrowers to bring the third  Mortgage
         Loans current.   The Partnership and the Borrower have agreed to extend
         the terms of the Third Mortgage Loans, which matured on August 31, 2000
         to  April  20,  2001,  so  that  the  Third  Mortgage  Loans  would  be
         coterminous with the  underlying  First Mortgage  and  Second  Mortgage
         Loans.   With regard to the  Third Mortgage Loans,  the Partnership has
         waived any penalty rate of interest.

(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. On July 10, 2000, the Partnership  declared and paid an
         accrued  distribution  of $ 41,685  ($.08 per unit) to Limited  Partner
         unitholders  of record at June 15,  2000.  On September  15, 2000,  the
         Partnership  declared and accrued a  distribution  of $42,153 ($.08 per
         unit) to Limited  Partner  unitholders which was  paid  October 5, 2000
         subsequent to September 30, 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.

         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
         $1,816,433  at  September  30, 2000.  The  increase of $4,117  resulted
         primarily from net earnings for the period that was partially offset by
         cash  distributions  on January 15, 2000, April 14,  2000, and July 15,
         2000, totaling $127,586 to the Limited  Partners.  The Partnership also
         received  $ 57,945  (including  $7,355 of  participation  interest)  in
         payment of one of its  mortgage  loans.  As of  September  30, 2000 the
         Partnership's  loan  portfolio  consisted of five mortgage  loans,  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  Mortgage  Loans were  current as to regular  interest as of
         September  30,  2000.  See Note 2 to the  Financial  Statements  herein
         regarding  renegotiations of the  Partnership's  second Mortgage Loans.
         The third Mortgage Loans were not current as to regular  interest as of
         September 30, 2000.  The  Partnership  is working with the borrowers to
         bring the third Mortgage  Loans  current.  As of September 30, 2000 the
         Partnership  was owed $56,342 of  interest.  The  borrowers  are paying
         additional  interest  at the  penalty  rate of 3% per annum  plus Basic
         Interest.

         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.

         During  the  nine  months  ended  September  30,  2000  and  1999,  the
         Partnership  had net earnings of $124,830  and $96,623,  based on total
         revenue of  $175,626  and  $165,210  and total  expenses of $50,796 and
         $68,587. For the nine months ended September 30, 2000 and 1999, the net
         earnings  per  limited  partner  unit was  $.24 and $.18  respectively.

                                       9
<PAGE>
         During  the  three  months  ended  September  30,  2000 and  1999,  the
         Partnership  had net  earnings of $43,570 and  $20,631,  based on total
         revenue of $55,103  and  $50,818,  and total  expenses  of $11,533  and
         $30,187, respectively.

         The  increase in net  earnings  of $28,207  for  the nine months  ended
         September  30, 2000,  compared to  the nine months ended  September 30,
         1999, is due to an increase in  interest income of $10,416,  a decrease
         in professional fees of $16,170, an increase in other expenses  of $822
         and a decrease in management fee of $2,369.

         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

                  (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: November 14, 2000                     /s/Albert E. Jenkins, III
                                             -------------------------
                                             Albert E. Jenkins, III
                                             President, Chief Executive Officer
                                             and Acting Chief Financial Officer



                                       11
<PAGE>