Form 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                 |X|    Quarterly Report Pursuant to Section 13 or
                        15(d) of the Securities Exchange Act of 1934.
                        For the quarterly period ended June 30, 2001

                 |_|    Transition Report Pursuant to Section 13 or 15(d) of
                        the Securities Exchange Act of 1934.
                        For the transition period from _______ to _______

                         Commission File Number 0-21552

                      ATEL Cash Distribution Fund IV, L.P.
             (Exact name of registrant as specified in its charter)

California                                                    94-3145429
----------                                                    ----------
(State or other jurisdiction of                             (I. R. S. Employer
 incorporation or organization)                            Identification No.)

           235 Pine Street, 6th Floor, San Francisco, California 94104
           -----------------------------------------------------------
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (415) 989-8800
       ------------------------------------------------------------------



Indicate  by a 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.

                                     Yes |X|
                                     No |_|

                       DOCUMENTS INCORPORATED BY REFERENCE

                                      None



                                       1
<PAGE>

                          Part I FINANCIAL INFORMATION

Item 1.               Financial Statements.



                                       2
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                  BALANCE SHEET

                                  JUNE 30, 2001
                                   (Unaudited)


                                     ASSETS



Cash and cash equivalents                                             $ 770,206

Accounts receivable, net of allowance for
   doubtful accounts of $67,211                                         238,370

Investments in leases                                                 3,047,162
                                                                ----------------
                                                                    $ 4,055,738
                                                                ================


                       LIABILITIES AND PARTNERS' CAPITAL


Non-recourse debt                                                     $ 402,258

Accounts payable                                                        120,545

Accrued interest payable                                                  2,904

Unearned operating lease income                                          81,862
                                                                ----------------
Total liabilities                                                       607,569

Partners' capital:
     General partners                                                   227,897
     Limited partners                                                 3,220,272
                                                                ----------------
Total partners' capital                                               3,448,169
                                                                ----------------
                                                                    $ 4,055,738
                                                                ================



                             See accompanying notes.






                                       3
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                        SIX AND THREE MONTH PERIODS ENDED
                             JUNE 30, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                   Six Months                       Three Months
                                                 Ended June 30,                    Ended June 30,
                                                 --------------                    --------------
                                             2001             2000             2001             2000
                                             ----             ----             ----             ----
Revenues:
Lease revenues:
<S>                                           <C>            <C>                <C>              <C>
   Operating leases                           $ 315,013      $ 1,226,291        $ 166,121        $ 574,504
   Direct financing leases                      288,615          358,880          143,005          178,265
(Loss) gain on sale of assets                    (1,916)       1,223,154           (9,279)       1,166,793
Interest income                                  13,599          110,120            5,368           44,885
Other income                                      1,182           37,778              144            2,589
                                        ---------------- ---------------- ---------------- ----------------
                                                616,493        2,956,223          305,359        1,967,036
Expenses:
Cost reimbursements to General Partner          251,284          107,487          150,813           63,500
Depreciation and amortization                   249,378          560,683          114,167          276,828
Other                                            61,268           56,168           24,974           48,219
Professional fees                                26,075           35,817           20,455           21,520
Interest                                         23,851           99,896           10,005           40,271
Equipment and incentive management fees               -          150,232          (30,928)          85,827
Railcar maintenance                                   -          111,237                -                -
                                        ---------------- ---------------- ---------------- ----------------
                                                611,856        1,121,520          289,486          536,165
                                        ---------------- ---------------- ---------------- ----------------
Net income                                      $ 4,637      $ 1,834,703         $ 15,873      $ 1,430,871
                                        ================ ================ ================ ================
Net income:
     General partners                              $ 46         $ 18,347            $ 159         $ 14,309
     Limited partners                             4,591        1,816,356           15,714        1,416,562
                                        ---------------- ---------------- ---------------- ----------------
                                                $ 4,637      $ 1,834,703         $ 15,873      $ 1,430,871
                                        ================ ================ ================ ================

Net income per limited partnership unit           $0.00            $0.24            $0.00            $0.19
Weighted average number of units
   outstanding                                7,487,350        7,487,350        7,487,350        7,487,350
</TABLE>

                    STATEMENT OF CHANGES IN PARTNERS' CAPITAL

                             SIX MONTH PERIOD ENDED
                                  JUNE 30, 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                   Limited Partners      General
                                        Units           Amount          Partners           Total
<S>                                      <C>            <C>                <C>            <C>
Balance December 31, 2000                7,487,350      $ 4,546,863        $ 227,851      $ 4,774,714
Distributions to limited partners                        (1,331,182)               -       (1,331,182)
Net income                                                    4,591               46            4,637
                                   ---------------- ---------------- ---------------- ----------------
Balance June 30, 2001                    7,487,350      $ 3,220,272        $ 227,897      $ 3,448,169
                                   ================ ================ ================ ================
</TABLE>

                             See accompanying notes.


                                       4
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                            STATEMENTS OF CASH FLOWS

                        SIX AND THREE MONTH PERIODS ENDED
                             JUNE 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                Six Months                       Three Months
                                                              Ended June 30,                    Ended June 30,
                                                              --------------                    --------------
                                                          2001             2000             2001             2000
                                                          ----             ----             ----             ----
<S>                                                        <C>              <C>                <C>              <C>
Operating activities:
Net income                                                   $ 4,637      $ 1,834,703         $ 15,873      $ 1,430,871
Adjustments to reconcile net income to net
   cash provided by operations:
   Depreciation and amortization                             249,378          560,683          114,167          276,828
   Gain on sale of assets                                      1,916       (1,223,154)           9,279       (1,166,793)
     Changes in operating assets and liabilities:
        Accounts receivable                                1,985,623        1,212,465           88,081           46,088
        Bank overdrafts                                     (230,243)               -                -                -
        Accounts payable, general partner                    (32,722)         (26,449)         (30,928)         (56,675)
        Accounts payable, other                               27,426         (239,940)          82,129          (55,092)
        Accrued interest payable                              (2,552)          (3,149)          (1,288)          (1,590)
        Unearned operating lease income                       27,617          (47,792)          77,197            3,715
                                                     ---------------- ---------------- ---------------- ----------------
Net cash from operations                                   2,031,080        2,067,367          354,510          477,352
                                                     ---------------- ---------------- ---------------- ----------------

Investing activities:
Proceeds from sales of assets                                180,790        2,276,805           45,146        2,127,197
Reduction in investment in direct financing
   leases                                                    241,222           83,127          157,059         (146,733)
                                                     ---------------- ---------------- ---------------- ----------------
Net cash provided by investing activities                    422,012        2,359,932          202,205        1,980,464
                                                     ---------------- ---------------- ---------------- ----------------

Financing activities:
Payments of non-recourse debt                               (407,149)        (776,163)        (205,482)        (391,875)
Distributions to limited partners                         (1,331,182)      (5,241,642)           2,853       (2,621,012)
                                                     ---------------- ---------------- ---------------- ----------------
Net cash used in financing activities                     (1,738,331)      (6,017,805)        (202,629)      (3,012,887)
                                                     ---------------- ---------------- ---------------- ----------------
Net increase (decrease) in cash and
   cash equivalents                                          714,761       (1,590,506)         354,086         (555,071)
Cash at beginning of period                                   55,445        5,864,559          416,120        4,829,124
                                                     ---------------- ---------------- ---------------- ----------------
Cash at end of period                                      $ 770,206      $ 4,274,053        $ 770,206      $ 4,274,053
                                                     ================ ================ ================ ================

Supplemental disclosures of cash flow
   information:
Cash paid during period for interest                        $ 26,403        $ 103,045         $ 11,293         $ 41,861
                                                     ================ ================ ================ ================
</TABLE>

                             See accompanying notes.


                                       5
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 2001
                                   (Unaudited)


1. Summary of significant accounting policies:

Interim financial statements:

The unaudited interim financial statements reflect all adjustments which are, in
the opinion of the general partners,  necessary to a fair statement of financial
position and results of operations for the interim periods  presented.  All such
adjustments are of a normal recurring nature.  These unaudited interim financial
statements  should be read in  conjunction  with the most recent  report on Form
10K.


2. Organization and partnership matters:

ATEL Cash  Distribution  Fund IV, L.P. (the  Partnership),  was formed under the
laws of the State of  California  on  September  19,  1991,  for the  purpose of
acquiring equipment to engage in equipment leasing and sales activities.

The Partnership's business consists of leasing various types of equipment. As of
June 30, 2001,  the  original  terms of the leases were from six months to eight
years.


3. Investment in leases:

The Partnership's investment in leases consists of the following:

<TABLE>
<CAPTION>
                                                               Depreciation
                                                               Expense or        Reclass-
                                             December 31,     Amortization     ifications &       June 30,
                                                 2000           of Leases      Dispositions         2001
                                                 ----           ---------     --------------        ----
<S>                                             <C>               <C>               <C>            <C>
Net investment in operating leases              $ 2,589,544       $ (243,072)       $ (92,541)     $ 2,253,931
Net investment in direct financing leases         1,674,127         (241,222)         (79,795)       1,353,110
Initial direct costs, net of accumulated
   amortization of $99,456 in 2000 and
   $105,762 in 2001                                  30,560           (6,306)               -           24,254
Equipment held for lease                             11,108                -          (10,370)             738
Reserve for losses                                 (584,871)               -                -         (584,871)
                                          ------------------ ---------------- ---------------- ----------------
                                                $ 3,720,468       $ (490,600)      $ (182,706)     $ 3,047,162
                                          ================== ================ ================ ================
</TABLE>



                                       6
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 2001
                                   (Unaudited)


3. Investments in leases (continued):

The Partnership's investment in property on operating leases consists of the
following:

<TABLE>
<CAPTION>
                                                                       Reclassifications &
                                December 31,                      Dispositions       June 30,
                                    2000          1st Quarter      2nd Quarter         2001
                                    ----          -----------      -----------         ----
<S>                                <C>               <C>              <C>             <C>
Transportation                     $ 3,196,692       $ (124,809)      $ (112,294)     $ 2,959,589
Construction                         1,756,195                -                -        1,756,195
Manufacturing                          457,670                -                -          457,670
Materials handling                     291,920                -                -          291,920
Other                                   26,092                -                -           26,092
                               ---------------- ---------------- ---------------- ----------------
                                     5,728,569         (124,809)        (112,294)       5,491,466
Less accumulated depreciation       (3,139,025)         (57,186)         (41,324)      (3,237,535)
                               ---------------- ---------------- ---------------- ----------------
                                   $ 2,589,544       $ (181,995)      $ (153,618)     $ 2,253,931
                               ================ ================ ================ ================
</TABLE>

All of the property on operating leases was acquired from 1992 through 1997.

At June 30, 2001, the aggregate amounts of future minimum lease payments are as
follows:

                Year ending       Direct
               December 31,      Financing        Operating          Total
               ------------      ---------        ---------          -----
                       2001         $ 283,626        $ 429,942        $ 713,568
                       2002           561,360          725,017        1,286,377
                       2003           561,360          554,385        1,115,745
                       2004           423,999                -          423,999
                              ---------------- ---------------- ----------------
                                  $ 1,830,345      $ 1,709,344      $ 3,539,689
                              ================ ================ ================






                                       7
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 2001
                                   (Unaudited)


4. Non-recourse debt:

Notes payable to financial  institutions are due in varying  monthly,  quarterly
and semi-annual installments of principal and interest. The notes are secured by
assignments  of lease  payments and pledges of the assets  which were  purchased
with the proceeds of the particular notes. Interest rates on the notes vary from
7.1% to 9.1%.

Future minimum principal payments of long-term non-recourse debt as of June 30,
2001 are as follows:

                Year ending
               December 31,      Principal        Interest           Total
               ------------      ---------        --------           -----
                       2001         $ 107,862         $ 15,433        $ 123,295
                       2002           187,916           18,137          206,053
                       2003           106,480            2,861          109,341
                              ---------------- ---------------- ----------------
                                    $ 402,258         $ 36,431        $ 438,689
                              ================ ================ ================


5.  Related party transactions:

The terms of the  Agreement  of Limited  Partnership  provide  that the  General
Partners  and/or  Affiliates are entitled to receive  certain fees for equipment
acquisition, management and resale and for management of the Partnership.

The General Partners and/or  Affiliates  earned the following fees,  commissions
and reimbursements, pursuant to the Limited Partnership Agreement during the six
month periods ended June 30, 2001 and 2000 as follows :

                                                2001             2000
                                                ----             ----
Reimbursement of administrative costs            $ 251,284        $ 107,487

Incentive and equipment management fees                  -          150,232
                                           ---------------- ----------------
                                                 $ 251,284        $ 257,719
                                           ================ ================

Effective  January 1, 2001,  the  General  Partners  have  ceased  charging  the
Partnership any further fees.



                                       8
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                                  JUNE 30, 2001
                                   (Unaudited)


6. Partner's capital:

The Fund is  authorized  to issue up to 7,500,000  Units of Limited  Partnership
interest in addition to the Initial Limited Partners.

The Fund's Net Profits,  Net Losses and Tax Credits are to be  allocated  99% to
the Limited Partners and 1% to the General Partners.

As more fully described in the Agreement of Limited Partnership,  available Cash
from  Operations  and Cash from Sales or  Refinancing  shall be  distributed  as
follows:

First,  5% of  Distributions  of Cash from  Operations to the General Partner as
Incentive Management Fees.

Second,  the balance to the Limited  Partners  until the Limited  Partners  have
received  aggregate  Distributions,  as  defined,  in an  amount  equal to their
Original  Invested  Capital,  as  defined,  plus  a  10%  per  annum  cumulative
(compounded daily) return on their Adjusted Invested Capital, as defined.

Third,  the General  Partner  will  receive as Incentive  Management  Fees,  the
following:

      (A) 10% of remaining Cash from Operations, as defined,

      (B) 15% of remaining Cash from Sales or Refinancing, as defined.

Fourth, the balance to the Limited Partners.







                                       9
<PAGE>

Item 2.               MANAGEMENT'S DISCUSSION AND ANALYSIS OF
                      FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Capital Resources and Liquidity

Funds which have been  received,  but which have not yet been invested in leased
equipment, are invested in interest-bearing accounts or  high-quality/short-term
commercial paper.


The  Partnership's  primary source of liquidity  during 2001 were lease revenues
and proceeds  from the sales of lease assets.  The liquidity of the  Partnership
will vary in the future,  increasing to the extent cash flows from leases exceed
expenses, and decreasing as lease assets are acquired, as distributions are made
to the  limited  partners  and to the  extent  expenses  exceed  cash flows from
leases.

The Partnership currently has available adequate reserves to meet contingencies,
but in the event those  reserves were found to be  inadequate,  the  Partnership
would  likely be in a position to borrow  against its current  portfolio to meet
such  requirements.  The general  partner  envisions  no such  requirements  for
operating purposes.

As of June 30, 2001, the  Partnership  had borrowed  approximately  $38,342,000,
with a remaining  unpaid balance of $402,258.  Borrowings are to be non-recourse
to the  Partnership,  that is, the only  recourse  of the lender  will be to the
equipment or corresponding lease acquired or secured with the loan proceeds. The
general  partner  expects  that  aggregate  borrowings  in the  future  will  be
approximately  40% of aggregate  equipment cost. In any event,  the Agreement of
Limited  Partnership  limits  such  borrowings  to  40%  of the  total  cost  of
equipment, in aggregate.

No  commitments  of capital have been or are expected to be made. As of June 30,
2001, there were no such commitments.


If  inflation  in the general  economy  becomes  significant,  it may affect the
Partnership  inasmuch as the residual  (resale) values and rates on re-leases of
the  Partnership's  leased  assets may  increase as the costs of similar  assets
increase.  However,  the  Partnership's  revenues from existing leases would not
increase,  as such rates are generally fixed for the terms of the leases without
adjustment for inflation.

If interest rates increase  significantly,  the lease rates that the Partnership
can obtain on future  leases will be expected to increase as the cost of capital
is a significant  factor in the pricing of lease  financing.  Leases  already in
place, for the most part, would not be affected by changes in interest rates.


Cash Flows, 2001 vs. 2000:

Six months:

During the first six months of 2001, lease rents were the primary source of cash
flows.  During the first six months of 2000, proceeds from sales of lease assets
was the primary sources of cash flows.

Cash flows from  operations  decreased  by $36,287 from  ($2,067,367  in 2000 to
$2,031,080 in 2001).

Sources of cash from investing  activities  consisted of proceeds from the sales
of  lease  assets  and  from  direct  financing  lease  rents  accounted  for as
reductions of the net  investment in such leases.  Proceeds from sales of assets
decreased from $2,276,805 in 2000 to $180,790 in 2001.



                                       10
<PAGE>

In 2001 and 2000,  there were no sources of cash from financing  activities.  As
scheduled  debt payments  have been made over the last year,  debt balances have
been reduced.  As a result,  the amounts of cash used to make such debt payments
has  also  decreased.  The  Partnership  has  made no  distributions  from  2001
operations.  This has resulted in a decrease in the amount of cash used for such
distributions.

Three months:

Lease rents were the primary source of cash flows in the second quarter of 2001.
Proceeds from sales of lease assets was the primary  source of cash flows in the
second quarter of 2000.

Operating  lease rents have  decreased  by  $408,383  from the prior year due to
asset sales  during the  preceding  twelve  months.  These rents are the primary
source of cash from operations.

In 2000,  proceeds from lease assets sales were the most  significant  source of
cash from investing activities.  Proceeds from asset sales has decreased as most
of the Partnership's  lease assets have been sold over the last eighteen months.
Rents from direct  financing  leases  also  provided  cash flows from  investing
activities  but has  decreased as a result of asset  sales.  Such rents were the
primary source of cash from investing activities in 2001.

During the second quarter of 2001 and 2000,  there were no financing  sources of
cash.  Payments of non-recourse  debt and  distributions to the Limited Partners
decreased for the same reasons as noted above for the six month period.


Results of Operations

Operations  in 2000,  operations  resulted  in net  income of $4,367 for the six
month  period and  $15,873 for the three month  period.  Operations  in the 2000
resulted in net income of $1,834,703 for the six month period and $1,430,871 for
the three month period.

Operating  lease revenues  decreased by $911,278 for the six month period and by
$408,383  for the three  month  period.  Revenues  have  declined as leases have
matured  and  as  the  underlying  assets  have  been  sold.  The  Partnership's
investment in lease assets has decreased from $8,049,422 at December 31, 1999 to
$3,047,162 at June 30, 2001.  Most of the decrease has been as a result of sales
of assets.  As leases mature and the related assets are sold, lease revenues are
expected to continue to decline. Gains and losses from the sales of those assets
are not expected to be consistent from one period to another.

The  Partnership's  operating  expenses  decreased by $509,664 for the six month
period and by $246,679 for the three month period. Most of the decrease resulted
from decreased  depreciation  expense.  Depreciation  has decreased as operating
leases have matured and as the underlying assets have been sold. Management fees
have decreased as the General  Partner has determined to charge the  Partnership
no  further  fees.   These   decreases  were   partially   offset  by  increased
administrative costs in both the six and three month periods.


                            PART II OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS.

No material legal  proceedings are currently  pending against the Partnership or
against any of its assets.



                                       11
<PAGE>

On December  31,  1997,  Quaker Coal  Company  requested a  moratorium  on lease
payments from January  through  March 1998.  No lease  payments were made by the
lessee through June of 1998, and as a result,  the General Partner  declared the
lease in default.  Subsequently,  the lessee cured the outstanding  payments and
eventually  satisfied  substantially  all lease  payments  due under the  Lease;
however,  the  General  Partner  refused to waive the  default  and  insisted on
contractual damages. The General Partner filed a suit against the lessee for its
contractual  damages in the U.S.  District  Court of  Northern  California  (the
"Court")  (Case No.  98-02971  THE).  On June 16,  2000,  the  lessee  filed for
protection  under Chapter 11 of the U.S.  Bankruptcy  Code. The amounts of these
damages have not been included in the financial  statements  included in Part I,
Item 1 of this report.

The Partnership  obtained a stipulation for relief from the automatic bankruptcy
stay to allow the Court to issue its ruling,  and filed a request to participate
on the Official Committee of Unsecured Creditors in the bankruptcy  proceedings.
The Partnership  succeeded upon securing the return of its equipment,  which has
been liquidated,  netting  approximately 17% of the original equipment cost. The
Court  issued a ruling on March 4, 2001,  denying  the  Partnership's  claim for
damages.  The Lessee  subsequently  filed a claim against the  Partnership,  for
reimbursement  of its legal expenses.  The General Partner  believes the Court's
decision is erroneous,  as a matter law, and has filed an appeal of the decision
in the U.S. District Court of Appeals.

The lessee filed a plan of reorganization, which has been objected to by several
large creditors, including the General Partner. These creditors are also seeking
a formal role on the creditors committee or formation of their own committee.

Currently,  the likelihood of recovery of amounts above the payment of the lease
rent and the liquidation of the equipment is speculative and highly uncertain.

Item 2. CHANGES IN SECURITIES.

         Inapplicable.

Item 3. DEFAULTS UPON SENIOR SECURITIES.

         Inapplicable.

Item 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

         Inapplicable.

Item 5. OTHER INFORMATION.

         Inapplicable.

Item 6. EXHIBITS AND REPORTS ON FORM 8-K.

                   (a)Documents filed as a part of this report

                   1.   Financial Statements
                        Included in Part I of this report:
                        Balance Sheet, June 30, 2001
                        Income statements for the six and three month periods
                        ended June 30, 2001 and 2000. Statement of changes in
                        partners' equity for the six months ended June 30, 2001.
                        Statements of cash flows for the six and three month
                        periods ended June 30, 2001 and 2000.
                        Notes to the Financial Statements.

                   2.   Financial Statement Schedules
                        All other schedules for which provision is made in the
                        applicable accounting regulations of the Securities and
                        Exchange Commission are not required under the related
                        instructions or are inapplicable, and therefore have
                        been omitted.

                   (b)  Report on Form 8-K
                        None


                                       12
<PAGE>

                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Date:
August 8, 2001

                      ATEL CASH DISTRIBUTION FUND IV, L.P.
                                  (Registrant)



                      By: ATEL Financial Services, LLC
                          General Partner of Registrant




                                        By:     /s/ DEAN L. CASH
                                              ---------------------------------
                                              Dean L. Cash
                                              President and Chief
                                              Executive Officer of General
                                              Partner



                      By:   /s/ PARITOSH K. CHOKSI
                          ------------------------------------
                          Paritosh K. Choksi
                          Executive Vice President of
                          General Partner, Principal
                          financial officer of registrant



                      By:   /s/ DONALD E.  CARPENTER
                          -------------------------------------
                          Donald E.  Carpenter,
                          Principal accounting officer of
                          registrant