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

                                    FORM 10-K

[ X ] Annual Report  Pursuant to Section 13 or 15(d) of the Securities  Exchange
      Act of 1934 [Fee Required]

For the fiscal year ended                  December 31, 2000
                          ------------------------------------------------------
                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
    Act of 1934 [Fee Required]

For the transition period from ___________________ to __________________________

Commission File Number                            0-27904
                       ---------------------------------------------------------

                     ICON Cash Flow Partners, L.P., Series C
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

       Delaware                                          13-3575099
-------------------------------           --------------------------------------
(State or other jurisdiction of                         (I.R.S. Employer
incorporation or organization)                       Identification Number)

              111 Church Street, White Plains, New York 10601-1505
--------------------------------------------------------------------------------
              (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code           (914) 993-1700
                                                   -----------------------------

Securities registered pursuant to Section 12(b) of the Act:     None

Title of each class                    Name of each exchange on which registered

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

Securities registered pursuant to Section 12(g) of the Act:
     Units of Limited Partnership Interests

--------------------------------------------------------------------------------
                                (Title of class)

--------------------------------------------------------------------------------
                                (Title of class)

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (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.

                                                                 [X] Yes [ ] No


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

                                TABLE OF CONTENTS

Item                                                                    Page

PART I

1.   Business                                                            3-4

2.   Properties                                                            5

3.   Legal Proceedings                                                     5

4.   Submission of Matters to a Vote of Security Holders                   5

PART II

5.   Market for the Registrant's Securities and Related
     Security Holder Matters                                               5

6.   Selected Financial and Operating Data                                 6

7.   General Partner's Discussion and Analysis of Financial
     Condition and Results of Operations                                 7-8

8.   Financial Statements and Supplementary Data                        9-22

9.   Changes in and Disagreements with Accountants on
     Accounting and Financial Disclosure                                  23

PART III

10.  Directors and Executive Officers of the Registrant's
     General Partner                                                      23

11.  Executive Compensation                                               24

12.  Security Ownership of Certain Beneficial Owners
     and Management                                                       25

13.  Certain Relationships and Related Transactions                       25

PART IV

14.  Exhibits, Financial Statement Schedules and Reports on Form 8-K      26

SIGNATURES                                                                27


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

PART I

Item 1.  Business

General Development of Business

     ICON Cash Flow Partners,  L.P., Series C (the  "Partnership") was formed in
June 1990 as a Delaware limited partnership.  The Partnership commenced business
operations on its initial  closing date,  January 3, 1991, with the admission of
15,249.37 limited  partnership units.  Between January 4, 1991 and June 21, 1991
(the final closing date), 184,750.63 additional units were admitted bringing the
final admission to 200,000 units totaling $20,000,000 in capital  contributions.
Between 1993 and 1997, the Partnership redeemed 1,755 limited partnership units.
In 1998 the Partnership  redeemed 208 units, leaving 198,037 limited partnership
units outstanding at December 31, 2000. The sole general partner is ICON Capital
Corp. (the "General Partner").

     The Partnership's  original  reinvestment  period was to expire on June 19,
1996, five years after the final closing date. The General Partner distributed a
definitive  consent statement to the limited partners to solicit approval of two
amendments to the Partnership  agreement.  A majority of the limited partnership
units outstanding responded affirmatively and the amendments were adopted. These
amendments are effective from and after June 19, 1996 and include: (1) extending
the reinvestment  period for a maximum of four and one half additional years and
likewise  delaying  the  start  and  end  of the  liquidation  period,  and  (2)
eliminating the Partnership's obligation to pay the General Partner a portion of
accrued and unpaid  management  fees, and any additional  management  fees which
would otherwise  accrue.  The previously  accrued and unpaid  management fees of
$105,000  were  paid  to the  General  Partner  in  1999.  The  General  Partner
subsequently  remitted  this amount  back to the  Partnership  as an  additional
capital contribution.

Segment Information

     The Partnership has only one operating  segment:  the business of acquiring
equipment  subject to leases with companies that the Partnership  believes to be
creditworthy..

Narrative Description of Business

     The  Partnership  is  an  equipment  leasing  income  fund.  The  principal
investment objective of the Partnership is to obtain the maximum economic return
from its  investments for the benefit of its limited  partners.  To achieve this
objective  the  Partnership  has and  intends  to  continue  to:  (1)  acquire a
diversified portfolio of short-term,  high-yield  investments;  (2) make monthly
cash distributions to its limited partners from cash from operations, commencing
with  each  limited  partner's  admission  to  the  Partnership,  when  cash  is
available,   continuing   through  the   reinvestment   period;   (3)  re-invest
substantially  all  undistributed  cash from  operations  and cash from sales in
additional equipment and financing  transactions during the reinvestment period;
and (4) sell the Partnership's investments and distribute the cash from sales of
such investments to its limited partners during the liquidation period.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

     The equipment  leasing  industry is highly  competitive.  In initiating its
leasing   transactions   the  Partnership   competes  with  leasing   companies,
manufacturers that lease their products directly,  equipment brokers and dealers
and financial institutions,  including commercial banks and insurance companies.
Many  competitors  are larger than the  Partnership  and have greater  financial
resources.

     The Partnership has no direct  employees.  The General Partner has full and
exclusive discretion in management and control of the Partnership.

Lease and Financing Transactions

     The  Partnership did not lease or finance any equipment for the years ended
December  31,  2000 and  1999.  A summary  of the  portfolio  equipment  cost by
category held at December 31, 2000 and 1999 is as follows:


                                 December 31, 2000          December 31, 1999
                              -----------------------    -----------------------

Category                          Cost        Percent        Cost        Percent
--------                          ----        -------        ----        -------

Computer systems              $  372,739       37.7%     $  551,423       25.3%
Manufacturing & production       196,443       19.9         252,449       11.6
Medical                          159,470       16.1         159,469        7.3
Office furniture & fixtures       89,386        9.1         119,242        5.5
Printing                          86,980        8.8         223,231       10.2
Telecommunications                37,927        3.8          49,359        2.3
Automotive equipment              28,051        2.8          43,283        2.0
Copiers                           17,654        1.8          50,566        2.3
Restaurant equipment                --          --          657,423       30.1
Video production                    --          --           65,815        3.0
Retail systems                      --          --           10,164        0.4
                              ----------      -----      ----------      -----
                              $  988,650      100.0%     $2,182,424      100.0%
                              ==========      =====      ==========      =====

     No  single  lessee  represents  greater  than  10% of the  total  portfolio
equipment cost at December 31, 2000.

Item 2.  Properties
         ----------

     The  Partnership  neither owns nor leases office space or equipment for the
purpose of managing its day-to-day affairs.

Item 3.  Legal Proceedings
         -----------------

     The Partnership is not a party to any pending legal proceedings.

Item 4.  Submission of Matters to a Vote of Security Holders
         ---------------------------------------------------

     No matters were  submitted to a vote of security  holders during the fourth
quarter of 2000.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

PART II

Item 5.  Market for the  Registrant's  Securities  and Related  Security  Holder
         Matters
         -----------------------------------------------------------------------

     The Partnership's limited partnership interests are not publicly traded nor
is there currently a market for the Partnership's limited partnership interests.
It is unlikely that any such market will develop.

                                             Number of Equity Security Holders
Title of Class                                       as of December 31,
--------------                               ---------------------------------
                                                   2000              1999
                                                   ----              ----

Limited partners                                  1,741             1,741
General Partner                                       1                 1




<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

Item 6.  Selected Financial and Operating Data
<TABLE>
<CAPTION>

                                                    Years Ended December 31,
                                 --------------------------------------------------------------

                                    2000        1999         1998         1997         1996
                                    ----        ----         ----         ----         ----

<S>                              <C>         <C>          <C>          <C>          <C>
Total revenues                   $  50,569   $  214,555   $  756,341   $  631,332   $1,170,549
                                 =========   ==========   ==========   ==========   ==========

Net (loss) income                $ (50,665)  $  128,503   $  773,695   $  978,533   $  923,727
                                 =========   ==========   ==========   ==========   ==========

Net (loss) income allocable to
  limited partners               $ (50,158)  $  127,218   $  765,958   $  968,748   $  914,490
                                 =========   ==========   ==========   ==========   ==========

Net (loss) income allocable to
  the General Partner            $    (507)  $    1,285   $    7,737   $    9,785   $    9,237
                                 =========   ==========   ==========   ==========   ==========

Weighted average
  limited partnership
  units outstanding                198,037      198,037      198,087      198,332      198,551
                                 =========   ==========   ==========   ==========   ==========

Net income per
  weighted average
  limited partnership unit       $    (.25)  $      .64   $     3.87   $     4.88   $     4.61
                                 =========   ==========   ==========   ==========   ==========

Distributions to
  limited partners               $ 890,950   $1,707,724   $1,782,770   $1,784,993   $1,786,992
                                 =========   ==========   ==========   ==========   ==========

Distributions to the
  General Partner                $   8,872   $   17,247   $   18,017   $   18,030   $   18,050
                                 =========   ==========   ==========   ==========   ==========
</TABLE>
<TABLE>
<CAPTION>

                                                           December 31,
                                  -------------------------------------------------------------

                                     2000        1999         1998         1997         1996
                                     ----        ----         ----         ----         ----

<S>                              <C>          <C>          <C>          <C>          <C>
Total assets                     $  473,700   $1,393,012   $3,079,477   $4,316,353   $6,643,704
                                 ==========   ==========   ==========   ==========   ==========

Partners' equity                 $  391,055   $1,341,542   $2,833,010   $3,861,494   $4,691,747
                                 ==========   ==========   ==========   ==========   ==========
</TABLE>

     The  above  selected  financial  and  operating  data  should  be  read  in
conjunction with the financial  statements and related notes appearing elsewhere
in this report.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

Item 7. General  Partner's  Discussion  and Analysis of Financial  Condition and
        Results of Operations
        ------------------------------------------------------------------------

     The  Partnership's  portfolio  consisted of a net investment in financings,
finance  leases and  investment  in joint  venture  of 57%,  5% and 38% of total
investments,  respectively,  at December  31, 2000 and 61%, 28% and 11% of total
investments, respectively, at December 31, 1999.

Results of Operations

Years Ended December 31, 2000 and 1999

     Revenues for the year ended December 31, 2000 were $50,569,  representing a
decrease of $163,986  from 1999.  The decrease in revenues was  primarily due to
the loss on sales of equipment  in 2000 of $6,900  compared to a gain of $51,752
in 1999,  and  decreases in finance  income of $56,779 and  interest  income and
other of $47,917. The loss on sales of equipment in 2000 resulted from equipment
being sold where the remaining book value exceeded sales proceeds.  The decrease
in  finance  income  was due to a  decrease  in the  average  size of the  lease
portfolio from 1999 to 2000.  The decrease in interest  income and other was due
primarily to a decline in the average cash balance from 1999 to 2000.

     Expenses  for  the  year  ended   December   31,  2000  totaled   $101,234,
representing an increase of $15,182 from 1999. The increase  resulted  primarily
from an  increase  in general  and  administrative  expenses  of  $22,949  and a
provision  for bad debt of $1,630  recorded  in 2000 with no  provision  for bad
debts  recorded  in  1999.  These  increases  were  offset  in part by a  $9,397
reduction in administrative  expense  reimbursements - General Partner.  General
and administrative expenses increased as a result of higher professional service
fees.  The provision for bad debts recorded in 2000 resulted from an analysis of
delinquency trends, loss experience and an assessment of overall credit risk for
the  investment  in financing  portfolio,  no such  provision  for bad debts was
required  in 1999.  Administrative  expense  reimbursements  -  General  Partner
decreased due to the decrease in the average size of the portfolio  from 1999 to
2000.

     Net  (loss)  income  for the years  ended  December  31,  2000 and 1999 was
($50,665) and $128,503, respectively. The net (loss) income per weighted average
limited partnership unit was ($.25) and $.64 for 2000 and 1999, respectively.

Years Ended December 31, 1999 and 1998

     Revenues for the year ended December 31, 1999 were $214,555, representing a
decrease of $541,786 from 1998. The decrease in revenues resulted primarily from
a decrease in gain on sales of  equipment  of  $413,392,  a decrease in interest
income and other of $39,931 and a decrease in finance


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

income of $94,421.  The decrease was  partially  offset by an increase in income
from  investment  in joint  venture  of $5,958.  The gain on sales of  equipment
decreased  due to a  decrease  in the  number  of leases  maturing  in which the
underlying  equipment  was sold.  The  decrease  in  interest  income  and other
resulted  from a decrease in the average  cash  balance  from 1998 to 1999.  The
decrease in finance  income  resulted from a decrease in the average size of the
portfolio from 1998 to 1999. In December 1998,  the  Partnership  entered into a
new joint  venture,  however,  there was no  revenue  generated  from such joint
venture in 1998 compared to $5,958 generated in 1999.

     Expenses for the year ended December 31, 1999 totaled $86,052, representing
an increase of $103,406 from 1998. The increase  resulted  primarily from a 1998
reversal of a $150,000  allowance  for  doubtful  accounts  which was  partially
offset by a decrease  in general  and  administrative  expense of $33,768  and a
decrease in administrative  expense  reimbursements  of $12,826.  Administrative
expense  reimbursements  decreased  due to a decrease in the average size of the
portfolio from 1998 to 1999. The reversal of the allowance for doubtful accounts
in 1998 resulted from an analysis of delinquency  trends, loss experience and an
assessment of overall credit risk.

     Net income for the years ended December 31, 1999 and 1998 was $128,503 and
$773,695, respectively. The net income per weighted average limited partnership
unit was $.64 and $3.87 for 1999 and 1998, respectively.

Liquidity and Capital Resources

     The Partnership's  primary sources of funds in 2000, 1999 and 1998 were net
cash  provided by operations  of $227,545,  $373,704 and $952,528,  and proceeds
from sales of equipment of $64,421, $178,551 and $646,783,  respectively.  These
funds were used to fund cash  distributions to partners.  Cash  distributions to
the limited  partners in 2000,  1999 and 1998 totaled  $890,950,  $1,707,724 and
$1,782,770,  respectively,  of which $0,  $127,218 and  $765,958 was  investment
income  and  $890,950,  $1,580,506  and  $1,016,812  was a  return  of  capital,
respectively.

     As of December 31, 2000, except as noted above,  there were no known trends
or demands,  commitments,  events or uncertainties  which are likely to have any
material  effect on liquidity.  As cash is realized from operations and sales of
equipment,  the Partnership  will make  distributions  to limited partners while
retaining sufficient cash reserves to meet its obligations.

Item 7a.  Qualitative and Quantitative Disclosures About Market Risk

     The  Partnership had been exposed to interest rate risks during the periods
it had outstanding debt obligations. The Partnership presently does not have any
remaining outstanding debt obligations and believes its exposure to other market
risks  are  insignificant  to  both  its  financial   position  and  results  of
operations.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000


Item 8.  Financial Statements and Supplementary Data

                          Index to Financial Statements
                                                                     Page Number

Independent Auditors' Report                                              11

Balance Sheets as of December 31, 2000 and 1999                           12

Statements of Operations for the Years Ended
  December 31, 2000, 1999 and 1998                                        13

Statements of Changes in Partners' Equity for
  the Years Ended December 31, 2000, 1999 and 1998                        14

Statements of Cash Flows for the Years Ended
  December 31, 2000, 1999 and 1998                                        15

Notes to Financial Statements                                          16-21


<PAGE>














                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                              Financial Statements

                                December 31, 2000

                   (With Independent Auditors' Report Thereon)


<PAGE>







                          INDEPENDENT AUDITORS' REPORT





The Partners
ICON Cash Flow Partners, L.P., Series C:

We have  audited the  accompanying  balance  sheets of ICON Cash Flow  Partners,
L.P.,  Series C (a Delaware  limited  partnership)  as of December  31, 2000 and
1999, and the related statements of operations,  changes in partners' equity and
cash flows for each of the years in the  three-year  period  ended  December 31,
2000. These financial  statements are the  responsibility  of the  partnership's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the  United  States of  America.  Those  standards  require  that we plan and
perform the audit to obtain  reasonable  assurance  about  whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of ICON Cash Flow Partners,  L.P.,
Series C as of December 31, 2000 and 1999, and the results of its operations and
its cash flows for each of the years in the three-year period ended December 31,
2000 in conformity with accounting  principles  generally accepted in the United
States of America.


                                          /s/ KPMG LLP
                                          --------------------------------------
                                          KPMG LLP


March 28, 2001
New York, New York


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                 Balance Sheets

                                  December 31,
<TABLE>
<CAPTION>

                                                             2000           1999
                                                             ----           ----
       Assets

<S>                                                      <C>            <C>
Cash                                                     $   307,709    $   915,565
                                                         -----------    -----------

Investment in financings
    Receivables due in installments                          124,000        302,984
    Unearned income                                           (2,650)       (15,519)
    Allowance for doubtful accounts                          (47,847)       (27,847)
                                                         -----------    -----------
                                                              73,503        259,618
                                                         -----------    -----------

Investment in finance leases
    Minimum rents receivable                                  15,172        142,109
    Estimated unguaranteed residual values                      --           11,901
    Unearned income                                              (59)        (6,060)
    Allowance for doubtful accounts                           (8,935)       (27,305)
                                                         -----------    -----------
                                                               6,178        120,645
                                                         -----------    -----------

Investment in joint venture                                   49,619         44,299
Other assets                                                  36,691         52,885
                                                         -----------    -----------

Total assets                                             $   473,700    $ 1,393,012
                                                         ===========    ===========

       Liabilities and Partners' Equity

Security deposits, deferred credits and other payables   $    82,645    $    51,470
                                                         -----------    -----------
                                                              82,645         51,470
                                                         -----------    -----------
Commitments and Contingencies

Partners' equity (deficiency)
    General Partner                                          (64,419)       (55,040)
    Limited partners (198,037 units outstanding,
      $100 per unit original issue price)                    455,474      1,396,582
                                                         -----------    -----------

Total partners' equity                                       391,055      1,341,542
                                                         -----------    -----------

Total liabilities and partners' equity                   $   473,700    $ 1,393,012
                                                         ===========    ===========
</TABLE>

See accompanying notes to financial statements.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                            Statements of Operations

                        For the Years Ended December 31,
<TABLE>
<CAPTION>

                                                 2000        1999        1998
                                                 ----        ----        ----
<S>                                          <C>          <C>         <C>
Revenues

   Finance income                            $  20,979    $  77,758   $ 172,179
   Interest income and other                    31,170       79,087     119,018
   Income from investment in joint venture       5,320        5,958        --
   (Loss) gain on sales of equipment            (6,900)      51,752     465,144
                                             ---------    ---------   ---------

   Total revenues                               50,569      214,555     756,341
                                             ---------    ---------   ---------

Expenses

   General and administrative                   92,412       69,463     103,231
   Administrative expense reimbursements
     - General Partner                           7,192       16,589      29,415
   Provision (reversal of provision)
     for doubtful accounts                       1,630         --      (150,000)
                                             ---------    ---------   ---------

   Total expenses                              101,234       86,052     (17,354)
                                             ---------    ---------   ---------

Net income                                   $ (50,665)   $ 128,503   $ 773,695
                                             =========    =========   =========

Net (loss) income allocable to:
   Limited partners                          $ (50,158)   $ 127,218   $ 765,958
   General Partner                                (507)       1,285       7,737
                                             ---------    ---------   ---------

                                             $ (50,665)   $ 128,503   $ 773,695
                                             =========    =========   =========

Weighted average number of limited
   partnership units outstanding               198,037      198,037     198,087
                                             =========    =========   =========

Net (loss) income per weighted average
   limited partnership unit                  $    (.25)   $     .64   $    3.87
                                             =========    =========   =========

</TABLE>



See accompanying notes to financial statements.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Statements of Changes in Partners' Equity

              For the Years Ended December 31, 2000, 1999 and 1998
<TABLE>
<CAPTION>

                          Limited Partner Distributions

                           Return of       Investment        Limited         General
                            Capital          Income          Partners        Partner        Total
                            -------          ------          --------        -------        -----
                          (Per weighted average unit)

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

Balance at
   December 31, 1997                                       $ 3,995,292     $(133,798)    $ 3,861,494

Cash distributions
   to partners             $  5.13         $   3.87         (1,782,770)      (18,017)     (1,800,787)

Limited partnership
   units redeemed
   (208 units)                                                  (1,392)        -              (1,392)

Net income                                                     765,958         7,737         773,695
                                                           -----------     ---------     -----------

Balance at
   December 31, 1998                                         2,977,088      (144,078)      2,833,010

Cash distributions
   to partners             $  7.98         $    .64         (1,707,724)      (17,247)     (1,724,971)

Capital contribution                                             -           105,000         105,000

Net income                                                     127,218         1,285         128,503
                                                           -----------     ---------     -----------

Balance at
   December 31, 1999                                         1,396,582       (55,040)      1,341,542

Cash distributions
   to partners             $  4.50         $  -               (890,950)       (8,872)       (899,822)

Capital contribution                                             -            -                -

Net (loss)                                                     (50,158)         (507)        (50,665)
                                                           -----------     ---------     -----------

Balance at
   December 31, 2000                                       $   455,474     $ (64,419)    $   391,055
                                                           ===========     =========     ===========

</TABLE>



See accompanying notes to financial statements.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                            Statements of Cash Flows

                        For the Years Ended December 31,
<TABLE>
<CAPTION>

                                                                2000           1999           1998
                                                                ----           ----           ----

Cash flows from operating activities:
<S>                                                         <C>            <C>            <C>
   Net (loss) income                                        $   (50,665)   $   128,503    $   773,695
                                                            -----------    -----------    -----------
   Adjustments to reconcile net income to
     net cash provided by operating activities:
     Loss (gain) on sales of equipment                            6,900        (51,752)      (465,144)
     Provision (reversal of provision)
       for doubtful accounts                                      1,630           --         (150,000)
     Income from investment in joint venture                     (5,320)        (5,958)          --
     Changes in operating assets and liabilities:
       Collection of principal - non-financed receivables       242,973        580,894      1,029,790
       Distribution from joint venture                             --           22,731           --
       Investment in equity joint venture                          --           (4,112)       (56,960)
       Accounts payable to General Partner and affiliates          --         (175,586)       139,352
       Security deposits and deferred credits                    31,175        (19,411)      (347,744)
       Other                                                        852       (101,605)        29,539
                                                            -----------    -----------    -----------

         Total adjustments                                      278,210        245,201        178,833
                                                            -----------    -----------    -----------

       Net cash provided by operating activities                227,545        373,704        952,528
                                                            -----------    -----------    -----------

Cash flows from investing activities:
   Proceeds from sales of equipment                              64,421        178,551        646,783
                                                            -----------    -----------    -----------

       Net cash provided by investing activities                 64,421        178,551        646,783
                                                            -----------    -----------    -----------

Cash flows from financing activities:
   Redemption of limited partnership units                         --             --           (1,392)
   Cash distributions to partners                              (899,822)    (1,724,971)    (1,800,787)
   Proceeds from General Partner  contribution                     --          105,000           --
                                                            -----------    -----------    -----------

       Net cash used in financing activities                   (899,822)    (1,619,971)    (1,802,179)
                                                            -----------    -----------    -----------

Net decrease in cash                                           (607,856)    (1,067,716)      (202,868)

Cash, beginning of year                                         915,565      1,983,281      2,186,149
                                                            -----------    -----------    -----------

Cash, end of year                                           $   307,709    $   915,565    $ 1,983,281
                                                            ===========    ===========    ===========
</TABLE>

See accompanying notes to financial statements.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                          Notes to Financial Statements

                                December 31, 2000

1.   Organization

     ICON Cash Flow Partners,  L.P., Series C (the  "Partnership") was formed on
June 22, 1990 as a Delaware limited  partnership with an initial  capitalization
of $2,000.  It was formed to acquire  various types of equipment,  to lease such
equipment  to third  parties  and,  to a lesser  degree,  to enter into  secured
financing  transactions.  The Partnership's offering period commenced on January
3, 1991 and by its final  closing in 1991,  200,000 units had been admitted into
the Partnership  with aggregate gross proceeds of $20,000,000.  Between 1993 and
1997, the  Partnership  redeemed 1,755 limited  partnership  units.  In 1998 the
Partnership  redeemed 208 limited  partnership  units,  leaving  198,037 limited
partnership units outstanding at December 31, 1998, 1999 and 2000.

     The General  Partner of the Partnership is ICON Capital Corp. (the "General
Partner"), a Connecticut  corporation.  The General Partner manages and controls
the  business  affairs  of the  Partnership's  equipment  leases  and  financing
transactions under a management agreement with the Partnership.

     ICON  Securities  Corp., an affiliate of the General  Partner,  received an
underwriting commission on the gross proceeds from sales of all units. The total
underwriting  compensation  paid  by  the  Partnership,  including  underwriting
commissions,   sales  commissions,   incentive  fees,  public  offering  expense
reimbursements  and due  diligence  activities  was  limited to 13% of the gross
proceeds  received from the sale of the units.  Such offering  costs  aggregated
$2,600,000, (including $1,013,120 paid to the General Partner or its affiliates)
and were charged directly to limited partners' equity.

     Profits,  losses, cash distributions and disposition proceeds are allocated
99% to the limited  partners  and 1% to the General  Partner  until each limited
partner has received cash distributions and disposition  proceeds  sufficient to
reduce  its  adjusted  capital  contribution  account  to zero and  receive,  in
addition,  other  distributions  and  allocations  which would provide a 10% per
annum  cumulative  return  on  its  outstanding  adjusted  capital  contribution
account.  After such time,  distributions  would be allocated 90% to the limited
partners and 10% to the General Partner.


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

2.   Amendments to Partnership Agreement

     The Partnership's  original  reinvestment  period was to expire on June 19,
1996, five years after the final closing date. The General Partner distributed a
definitive  consent statement to the limited partners to solicit approval of two
amendments to the Partnership  agreement.  A majority of the limited partnership
units  outstanding  responded  affirmatively  and the  amendments  were  adopted
accordingly.  These  amendments  are effective  from and after June 19, 1996 and
include:  (1)  extending the  reinvestment  period for a maximum of four and one
half additional  years and likewise delayed the start and end of the liquidation
period,  and (2)  eliminating  the  Partnership's  obligation to pay the General
Partner  $529,125  of the  $634,125  accrued  and unpaid  management  fees as of
December  31, 1997 and all  additional  management  fees which  would  otherwise
accrue.  The remaining $105,000 of previously accrued and unpaid management fees
was paid to the General  Partner in 1999.  The  General  Partner  remitted  this
amount  back to the  Partnership  in 1999 in the form of an  additional  capital
contribution.

3.   Significant Accounting Policies

     Basis of  Accounting  and  Presentation  - The  Partnership's  records  are
maintained on the accrual  basis.  The  preparation  of financial  statements in
conformity with generally accepted  accounting  principles  requires the General
Partner's  management to make estimates and assumptions that affect the reported
amounts of assets and  liabilities  at the date of the financial  statements and
revenues and expenses during the reporting  period.  Actual results could differ
from those estimates. In addition, management is required to disclose contingent
assets and liabilities.

     Leases - The  Partnership  accounts  for  owned  equipment  leased to third
parties as finance leases or operating leases,  as appropriate.  The Partnership
presently  has only  investments  in finance  leases.  For finance  leases,  the
Partnership  records,  at the  inception of the lease,  the total  minimum lease
payments  receivable,  the estimated  unguaranteed  residual values, the initial
direct costs  related to the leases and the related  unearned  income.  Unearned
income  represents the difference  between the sum of the minimum lease payments
receivable plus the estimated unguaranteed residual minus the cost of the leased
equipment. Unearned income is recognized as finance income over the terms of the
related leases using the interest method. Initial direct costs of finance leases
are capitalized and are amortized over the terms of the related leases using the
interest method.  Each lease is expected to provide aggregate  contractual rents
that,  along  with  residual  proceeds,  return  the  Partnership's  cost of its
investments along with investment income.

     Investment in  Financings - Investment  in  financings  represent the gross
receivables  due from the financing of equipment  plus the initial  direct costs
related  thereto  less the  related  unearned  income.  The  unearned  income is
recognized as finance income and the initial direct costs are amortized over the
terms of the receivables using the interest method.  Financing  transactions are
supported by a written  promissory note evidencing the obligation of the user to
repay the principal,  together with interest, which will be sufficient to return
the Partnership's full cost associated with such financing transaction, together
with  some  investment  income.   Furthermore,   the  repayment   obligation  is
collateralized  by a security  interest in the tangible or  intangible  personal
property.




<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

     Disclosures  About Fair  Value of  Financial  Instruments  -  Statement  of
Financial Accounting  Standards ("SFAS") No. 107,  "Disclosures about Fair Value
of Financial Instruments" requires disclosures about the fair value of financial
instruments.  Separate  disclosure of fair value  information as of December 31,
2000 and 1999 with  respect  to the  Company's  assets  and  liabilities  is not
provided  because (i) SFAS No. 107 does not require  disclosures  about the fair
value of lease  arrangements  and (ii) the carrying  value of financial  assets,
other than lease related investments, approximates market value.

     Investment in Joint Ventures - The  Partnership  accounts for its interests
in less than 50% owned joint ventures under the equity method of accounting.  In
such  cases,  the  Partnership's  original  investment  is  recorded at cost and
adjusted for its share of earnings, losses and distributions thereafter.

     Allowance for Doubtful  Accounts - The Partnership  records  provisions for
bad debts to provide for estimated credit losses in the portfolio. The allowance
for doubtful accounts is based on an analysis of delinquency and loss trends and
an assessment of overall  credit risk.  The  Partnership's  write-off  policy is
based on an analysis of the aging of the  Partnership's  portfolio,  a review of
the non-performing  receivables and leases, and prior collection experience.  An
account is fully  reserved for or written off when such analysis  indicates that
the probability of collection of the account is remote. In 2000, the Partnership
recorded a provision for bad debt expense of $1,630.  In 1998,  the  Partnership
reversed $150,000 of amounts  previously  included in the allowance for doubtful
accounts.

     Impairment of Estimated  Residual  Values - The  Partnership's  policy with
respect to impairment of estimated  residual values is to review,  on a periodic
basis,  the  carrying  value of its  residuals on an  individual  asset basis to
determine whether events or changes in circumstances  indicate that the carrying
value of an asset may not be  recoverable  and,  therefore,  an impairment  loss
should be recognized.  The events or changes in  circumstances  which  generally
indicate  that the  residual  value of an asset  has been  impaired  are (i) the
estimated fair value of the underlying  equipment is less than the Partnership's
carrying value or (ii) the lessee is experiencing  financial difficulties and it
does not appear likely that the estimated proceeds from disposition of the asset
will be  sufficient  to satisfy the  remaining  obligation  to the  non-recourse
lender and the Partnership's residual position.

     The  Partnership  measures its  impairment  loss as the amount by which the
carrying  amount of the  residual  value  exceeds the  estimated  proceeds to be
received by the Partnership from release or resale of the equipment.  Generally,
quoted market  prices are used as the basis for measuring  whether an impairment
loss should be recognized.

     Income Taxes - No provision for income taxes has been made as the liability
for such taxes is that of each of the partners rather than the Partnership.

     New Accounting  Pronouncement - Effective  January 1, 2001, the Partnership
adopted  SFAS No.  133,  "Accounting  for  Derivative  Instruments  and  Hedging
Activities," as amended. The adoption of SFAS No. 133 did not have any effect on
the Partnership's financial position or results of operations.



<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

4.   Investment in Joint Venture

     In  December  1998 the  Partnership  and three  affiliates,  ICON Cash Flow
Partners  L.P.  Six ("L.P.  Six"),  ICON Cash Flow  Partners  L.P.  Seven ("L.P.
Seven")  and ICON Income  Fund Eight A L.P.  ("Eight  A") formed  ICON  Boardman
Funding  LLC ("ICON  BF"),  for the purpose of  acquiring a lease with  Portland
General Electric.  The purchase price totaled  $27,421,810,  and was funded with
cash and non-recourse debt assumed in the purchase price. The Partnership,  L.P.
Six,  L.P.  Seven and  Eight A  received  a .5%,  .5%,  .5% and 98.5%  interest,
respectively,  in ICON BF. The Partnership's original investment was recorded at
cost  of  $56,960  and  is  adjusted  by  its  share  of  earnings,  losses  and
distributions,  thereafter. The Partnership invested $4,112 in the joint venture
in 1999.  Simultaneously  with the acquisition of the Portland  General Electric
lease by ICON BF, the rent in excess of the senior debt payments was acquired by
L.P.  Six for  $3,801,108.  On March  30,  1999,  ICON BF  acquired  L.P.  Six's
investment  in a portion of the rent in excess of the senior debt  payments  for
$3,097,637  and  financed,  with a third party,  all of the rent  receivable  in
excess  of the  senior  debt  payments.  ICON BF  received  $7,643,867  from the
financing.  There  was no gain or loss  to  L.P.  Six on this  transaction.  The
proceeds from the financing, net of the purchase of L.P. Six's investment,  were
distributed  to the  members  of  ICON BF in  accordance  with  their  ownership
interests.

     Information as to the financial position of ICON BF as of and for the years
ended December 31, 2000 and 1999 is summarized below:

                                       December 31, 2000       December 31, 1999
                                       -----------------       -----------------

Assets                                  $    22,744,551        $     27,740,665
                                        ===============        ================

Liabilities                             $    12,819,987        $     18,880,079
                                        ===============        ================

Equity                                  $     9,924,564        $      8,860,586
                                        ===============        ================

Partnership's share of equity           $        49,619        $         44,299
                                        ===============        ================

                                          Year Ended              Year Ended
                                       December 31, 2000       December 31, 1999
                                       -----------------       -----------------

Net income                              $     1,063,978        $      1,191,629
                                        ===============        ================

Partnership's share of net income       $         5,320        $          5,958
                                        ===============        ================

Distributions                           $        -             $      4,546,230
                                        ===============        ================

Partnership's share of distributions    $        -             $         22,731
                                        ===============        ================



<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

5.   Receivables Due in Installments

     Non-cancelable minimum annual amounts receivable on financings and finance
leases are as follows:

                                           Finance
            Year        Financings         Leases            Total

            2001         $124,000         $ 15,172         $139,172
                         --------         --------         --------

                         $124,000         $ 15,172         $139,172
                         ========         ========         ========

6.   Allowance for Doubtful Accounts

     The Allowance for doubtful accounts related to the investments in finance
leases and investment in financings consisted of the following:
<TABLE>
<CAPTION>

                                                     Finance
                                                     Leases     Financings      Total

<S>                                                <C>          <C>          <C>
Balance at December 31, 1997                       $  88,499    $  94,437    $ 182,936

     Accounts written-off                             (1,566)        --         (1,566)
     Recovery on accounts previously
       written-off                                    20,604         --         20,604
     Transfer within accounts                         (9,343)       9,343         --
     Reversal of allowance for doubtful accounts     (74,067)     (75,933)    (150,000)
                                                   ---------    ---------    ---------

Balance at December 31, 1998                          24,127       27,847       51,974

     Recovery on accounts previously
       written-off                                     3,178         --          3,178
                                                   ---------    ---------    ---------

Balance at December 31, 1999                          27,305       27,847       55,152

     Provision for doubtful accounts                    --         20,000       20,000
     Reversal of allowance for doubtful accounts     (18,370)        --        (18,370)
                                                   ---------    ---------    ---------

Balance at December 31, 2000                       $   8,935    $  47,847    $  56,782
                                                   =========    =========    =========
</TABLE>



<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

7.   Related Party Transactions

     During the years ended  December  31, 2000,  1999 and 1998 the  Partnership
paid or accrued to the General Partner  administrative expense reimbursements of
$7,192, $16,589 and $29,415, respectively.  These reimbursements were charged to
operations.  As a result of the Partnership  Agreement  amendments  discussed in
Note 2, no management fee expense was recorded in 2000, 1999 and 1998.

     See Note 2 for information  relating to the 1999 capital  contribution made
by the General Partner.

     In December 1998 the Partnership and three affiliates, L.P. Six, L.P. Seven
and Eight A formed ICON BF, for the purpose of  acquiring a lease with  Portland
General Electric.  See Note 4 for additional  information  relating to the joint
venture.

8.   Tax Information (Unaudited)

     The following reconciles the net income for financial reporting purposes to
income for federal income tax purposes for the years ended December 31:
<TABLE>
<CAPTION>

                                         2000         1999         1998
                                         ----         ----         ----

<S>                                   <C>          <C>          <C>
Net income per financial statements   $ (50,665)   $ 128,503    $ 773,695

Differences due to:
   Direct finance leases                  7,924      174,557      421,385
   Operating leases                      15,584         --           --
   Depreciation                         (26,664)    (116,003)    (443,142)
   Provision for losses                  (1,962)      (3,178)    (130,902)
   Gain (loss) on sale of equipment        --          5,528     (307,902)
   Other                                (20,771)      (9,973)      48,227
                                      ---------    ---------    ---------
Partnership (loss) income for
   federal income tax purposes        $ (76,554)   $ 179,434    $ 361,361
                                      =========    =========    =========
</TABLE>

     As of December 31, 2000,  the partners'  capital  accounts  included in the
financial statements totaled $391,055 compared to the partners' capital accounts
for federal income tax purposes of $3,065,328 (unaudited). The difference arises
primarily from commissions  reported as a reduction in the partners' capital for
financial  reporting  purposes  but not for  federal  income tax  purposes,  and
temporary  differences  related  to  direct  finance  leases,  depreciation  and
provision for losses.




<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                    Notes to Financial Statements - Continued

9.   Quarterly Financial Data (Unaudited)

     The following table is a summary of financial data by quarter for the years
ended December 31, 2000 and 1999:
<TABLE>
<CAPTION>

                                                        For the Quarters Ended
                                         -----------------------------------------------------

                                         March 31,     June 30,     September 30,  December 31,
                                         --------      -------      ------------   -----------

2000
<S>                                      <C>           <C>            <C>           <C>
     Revenues                            $20,640       $ 11,608       $ 6,313       $ 12,008
                                         =======       ========       =======       ========

     Net income (loss) allocable to
       limited partners                  $(9,114)      $(32,859)      $ 9,485       $(17,670)
                                         =======       ========       =======       ========

     Net income (loss) per weighted
       average limited partnership un    $ (0.05)      $  (0.17)      $  0.05       $  (0.08)
                                         =======       ========       =======       ========

1999
     Revenues                            $42,314       $ 81,864       $41,816       $ 48,561
                                         =======       ========       =======       ========

     Net income allocable to
       limited partners                  $24,426       $ 63,622       $15,400       $ 23,770
                                         =======       ========       =======       ========

     Net income per weighted
       average limited partnership un    $  0.12       $   0.32       $  0.08       $   0.12
                                         =======       ========       =======       ========

</TABLE>


<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

Item  9.  Changes  in and  Disagreements  with  Accountants  on  Accounting  and
          Financial Disclosure
          ----------------------------------------------------------------------

     None

PART III

Item 10.  Directors and Executive Officers of the Registrant's General Partner
          --------------------------------------------------------------------

     The General  Partner,  a Connecticut  corporation,  was formed in 1985. The
General  Partner's  principal  offices are located at 111 Church  Street,  White
Plains,  New York 10601-1505,  and its telephone  number is (914) 993-1700.  The
officers of the General  Partner have  extensive  experience  with  transactions
involving the  acquisition,  leasing,  financing and  disposition  of equipment,
including  acquiring  and  disposing  of  equipment  subject  to leases and full
financing transactions.

     The  manager of the  Partnership's  business is the  General  Partner.  The
General  Partner is engaged in a broad range of equipment  leasing and financing
activities.  Through  its  sales  representatives  and  through  various  broker
relationships  throughout the United States,  the General Partner offers a broad
range of equipment leasing services.

     The  General  Partner is  performing  or causing  to be  performed  certain
functions  relating to the management of the equipment of the Partnership.  Such
services  include  the  collection  of lease  payments  from the  lessees of the
equipment,  re-leasing services in connection with equipment which is off-lease,
inspections of the equipment, liaison with and general supervision of lessees to
assure that the equipment is being properly operated and maintained,  monitoring
performance by the lessees of their obligations under the leases and the payment
of operating expenses.

     The officers and directors of the General Partner are as follows:

     Beaufort J.B. Clarke         Chairman, Chief Executive Officer and Director

     Paul B. Weiss                President and Director

     Thomas W. Martin             Executive Vice President and Director





<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

     Beaufort J. B. Clarke,  age 55, has been Chairman,  Chief Executive Officer
and Director of the General Partner since 1996.  Prior to his present  position,
Mr. Clarke was founder and the President and Chief Executive  Officer of Griffin
Equity  Partners,  Inc. Mr.  Clarke  formerly was an attorney  with Shearman and
Sterling  and has over 20 years of senior  management  experience  in the United
States leasing industry.

     Paul B. Weiss,  age 40, is President  and Director of the General  Partner.
Mr. Weiss has been exclusively engaged in lease acquisitions since 1988 from his
affiliations  with the General  Partner since 1996,  Griffin Equity Partners (as
Executive Vice President from 1993-1996);  Gemini Financial  Holdings (as Senior
Vice  President-Portfolio  Acquisitions  from  1991-1993)  and  Pegasus  Capital
Corporation (as Vice  President-Portfolio  Acquisitions from 1988-1991).  He was
previously an investment banker and a commercial banker.

     Thomas W. Martin,  age 47, has been Executive Vice President of the General
Partner since 1996. Prior to his present position,  Mr. Martin was the Executive
Vice  President and Chief  Financial  Officer of Griffin Equity  Partners,  Inc.
(1993-1996), Gemini Financial Holdings (as Senior Vice President from 1992-1993)
and Chancellor Corporation (as Vice  President-Syndications from 1985-1992). Mr.
Martin has 17 years of senior management experience in the leasing business.

Item 11.  Executive Compensation

     The Partnership  has no directors or officers.  The General Partner and its
affiliates were paid or accrued the following compensation and reimbursement for
costs and expenses for the years ended December 31, 2000, 1999 and 1998.
<TABLE>
<CAPTION>

     Entity              Capacity         Type of Compensation       2000    1999    1998
     ------              --------         --------------------       ----    ----    ----

<S>                   <C>                 <C>                      <C>       <C>      <C>
ICON Capital Corp.    General Partner    Administrative expense
                                           reimbursements          $7,192  $16,589  $29,415
                                                                   ------  -------  -------
                                                                   $7,192  $16,589  $29,415
                                                                   ======  =======  =======
</TABLE>

     See Note 2 within the financial  statements  under Item 8 for disclosure of
amendments made to the Partnership  Agreement which eliminated the Partnership's
obligation to pay the General Partner management fees.




<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

Item 12.  Security Ownership of Certain Beneficial Owners and Management

(a)  The Partnership is a limited partnership and therefore does not have voting
     shares of stock.  No person of record owns, or is known by the  Partnership
     to own  beneficially,  more  than  5% of any  class  of  securities  of the
     Partnership.

(b)  As of March 19, 2001,  Directors and Officers of the General Partner do not
     own any equity securities of the Partnership.

(c)  The General Partner owns the equity securities of the Partnership set forth
     in the following table:

  Title of Class         Amount Beneficially Owned       Percent of Class
  --------------         -------------------------       ----------------

 General Partner       Represents initially a 1% and           100%
   Interest            potentially a 10% interest in
                       the Partnership's income, gain
                       and loss deductions.

     Profits,  losses, cash distributions and disposition proceeds are allocated
99% to the limited  partners and 1% to the General  Partner  until each investor
has received cash  distributions and disposition  proceeds  sufficient to reduce
its adjusted  capital  contribution  account to zero and  receive,  in addition,
other  distributions  and  allocations  which  would  provide  a 10%  per  annum
cumulative  return,  compounded  daily,  on  the  outstanding  adjusted  capital
contribution  account.  After such time, the distributions will be allocated 90%
to the limited partners and 10% to the General Partner.

Item 13.  Certain Relationships and Related Transactions

     See  Item  11  for  a  discussion  of  the   Partnership's   related  party
transactions.



<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

PART IV

Item 14.  Exhibits, Financial Statement Schedules and Reports on Form 8-K

(a)  1.  Financial Statements - See Part II, Item 8 hereof.

     2.  Financial Statement Schedule - None.

         Schedules not listed above have been omitted because they are not
         applicable or are not required or the information required to be set
         forth therein is included in the Financial Statements or Notes thereto.

     3.  Exhibits - The following exhibits are incorporated herein by reference:

          (i)  Form  of  Dealer-Manager   Agreement   (Incorporated   herein  by
               reference  to  Exhibit  1.1  to  Amendment  No.  2  to  Form  S-1
               Registration Statement No. 33-36376 filed with the Securities and
               Exchange Commission on November 30, 1990)

          (ii) Form  of  Selling  Dealer  Agreement   (Incorporated   herein  by
               reference  to  Exhibit  1.2  to  Amendment  No.  2  to  Form  S-1
               Registration Statement No. 33-36376 filed with the Securities and
               Exchange Commission on November 30, 1990)

          (iii)Amended   and   Restated   Agreement   of   Limited   Partnership
               (Incorporated  by reference  to Exhibit A to  Amendment  No. 2 to
               Form S-1  Registration  Statement  No.  33-36376  filed  with the
               Securities and Exchange Commission on November 30, 1990)

          (iv) Form  of  Management   Agreement   between  the  Partnership  and
               Crossgate  Leasing,  Inc.  (Incorporated  herein by  reference to
               Exhibit  10.01  to  Amendment  No.  1 to  Form  S-1  Registration
               Statement No.  33-36376  filed with the  Securities  and Exchange
               Commission on October 25, 1990)

(b)  Reports on Form 8-K

     No reports on Form 8-K were filed by the Partnership  during the year ended
December 31, 2000.




<PAGE>


                     ICON Cash Flow Partners, L.P., Series C
                        (A Delaware Limited Partnership)

                                December 31, 2000

                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Partnership  has duly  caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                  ICON CASH FLOW PARTNERS, L.P., Series C
                                  File No. 33-36376 (Registrant)
                                  By its General Partner, ICON Capital Corp.

Date: March 28, 2001              /s/ Beaufort J.B. Clarke
                                  ----------------------------------------------
                                  Beaufort J.B. Clarke
                                  Chairman, Chief Executive Officer and Director

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacity and on the dates indicated.

ICON Capital Corp.
sole General Partner of the Registrant


Date: March 28, 2001              /s/ Beaufort J.B. Clarke
                                  ---------------------------------------------
                                  Beaufort J.B. Clarke
                                  Chairman, Chief Executive Officer and Director


Date: March 28, 2001              /s/ Paul B. Weiss
                                  ---------------------------------------------
                                  Paul B. Weiss
                                  President and Director


Date:  March 28, 2001             /s/ Thomas W. Martin
                                  ---------------------------------------------
                                  Thomas W. Martin
                                  Executive Vice President
                                  (Principal Financial and Accounting Officer)


Supplemental  Information to be Furnished With Reports Filed Pursuant to Section
15(d) of the Act by Registrant Which have not Registered  Securities Pursuant to
Section 12 of the Act

No annual report or proxy material has been sent to security holders.  An annual
report will be sent to the limited  partners and a copy will be forwarded to the
Commission.