Form 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                  |X|   Quarterly Report Pursuant to Section 13 or
                        15(d) of the  Securities  Exchange  Act of
                        1934.  For  the  quarterly   period  ended
                        September 30, 2000

                  |_|   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 000-21552

                      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

                               SEPTEMBER 30, 2000
                                   (Unaudited)


                                     ASSETS


Cash and cash equivalents                                            $1,899,111

Accounts receivable                                                     332,965

Investment in leases                                                  5,831,413
                                                               -----------------
                                                                     $8,063,489
                                                               =================


                       LIABILITIES AND PARTNERS' CAPITAL


Non-recourse debt                                                    $1,413,641
Accounts payable:
   General Partner                                                       29,789
   Other                                                                 29,088
Accrued interest                                                          6,969
Unearned operating lease income                                          89,213
                                                               -----------------
Total liabilities                                                     1,568,700

Partners' capital:
     General Partner                                                    218,849
     Limited Partners                                                 6,275,940
                                                               -----------------
Total partners' capital                                               6,494,789
                                                               -----------------
                                                                     $8,063,489
                                                               =================





                             See accompanying notes.

                                       3

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                       NINE AND THREE MONTH PERIODS ENDED
                           SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                    Nine Months Ended                  Three Months Ended
                                                      September 30,                        September 30,
                                                      -------------                        -------------
Revenues:                                         2000              1999              2000              1999
                                                  ----              ----              ----              ----
Lease revenues:
<S>                                               <C>               <C>                <C>               <C>
   Operating                                      $1,634,319        $ 2,156,039        $ 408,028         $ 650,091
   Direct financing                                  524,587            515,961          165,707           159,785
   Leveraged                                               -             80,864                -                 -
   Gain (loss) on sales of assets                  1,217,674          5,423,105           (5,480)          285,466
Interest income                                      182,983            138,558           72,863            90,720
Other                                                 38,487             13,303              709             1,291
                                            ----------------- ------------------ ---------------- -----------------
                                                   3,598,050          8,327,830          641,827         1,187,353
Expenses:
Depreciation and amortization                        837,320          1,328,425          276,637           362,705
Management fees                                      236,186            525,619           85,954           172,466
Administrative cost reimbursements                   178,446            168,992           70,959            68,985
Interest                                             132,397            238,336           32,501            64,580
Railcar maintenance                                  111,237                  -                -                 -
Other                                                 80,631            118,289           24,463           (23,695)
Professional fees                                     39,491             28,834            3,674             7,875
                                            ----------------- ------------------ ---------------- -----------------
                                                   1,615,708          2,408,495          494,188           652,916
                                            ----------------- ------------------ ---------------- -----------------
Net income                                        $1,982,342        $ 5,919,335        $ 147,639         $ 534,437
                                            ================= ================== ================ =================
Net income:
     General Partner                                $ 19,823           $ 59,193          $ 1,476           $ 5,344
     Limited Partners                              1,962,519          5,860,142          146,163           529,093
                                            ----------------- ------------------ ---------------- -----------------
                                                  $1,982,342        $ 5,919,335        $ 147,639         $ 534,437
                                            ================= ================== ================ =================
Net income per Limited Partnership unit                $0.26              $0.78            $0.02             $0.07
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

                             NINE MONTH PERIOD ENDED
                               SEPTEMBER 30, 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                            Limited Partners       General
                                                               Units             Amount            Partner           Total
<S>                                                              <C>             <C>                 <C>            <C>
Balance December 31, 1999                                        7,487,350       $ 12,234,093        $ 199,026      $ 12,433,119
Distributions to limited partners                                                  (7,920,672)               -        (7,920,672)
Net income                                                                          1,962,519           19,823         1,982,342
                                                          ----------------- ------------------ ---------------- -----------------
Balance September 30, 2000                                       7,487,350        $ 6,275,940        $ 218,849        $6,494,789
                                                          ================= ================== ================ =================
</TABLE>

                             See accompanying notes.



                                       4

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                            STATEMENTS OF CASH FLOWS

                       NINE AND THREE MONTH PERIODS ENDED
                           SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  Nine Months Ended                  Three Months Ended
                                                                    September 30,                        September 30,
                                                                    -------------                        -------------
                                                                2000              1999              2000              1999
                                                                ----              ----              ----              ----
Operating activities:
<S>                                                             <C>               <C>               <C>               <C>
Net income                                                      $1,982,342        $ 1,180,317        $ 147,639         $ 534,437
Adjustments to reconcile net income to
   net cash provided by operations:
     Depreciation and amortization                                 837,320          1,328,425          276,637           362,705
     Leveraged lease income                                              -            (80,864)               -                 -
     (Gain) loss on sales of assets                             (1,217,674)        (5,423,105)           5,480          (285,466)
Changes in operating assets and liabilities:
   Accounts receivable                                           1,266,447            223,550           53,982           120,741
   Accounts payable, General Partner                               (36,787)          (401,741)         (10,338)           10,528
   Accounts payable, other                                        (233,672)           (51,838)           6,268           (34,111)
   Accrued interest                                                 (4,769)            (6,743)          (1,620)           (2,065)
   Unearned operating lease income                                 (60,570)            36,694          (12,778)          141,753
                                                          ----------------- ------------------ ---------------- -----------------
Net cash from operations                                         2,532,637          1,543,713          465,270           848,522
                                                          ----------------- ------------------ ---------------- -----------------

Investing activities:
Proceeds from sales of lease assets                              1,916,239         14,320,842            8,176         2,922,992
Reduction of net investment in direct financing
   leases                                                          682,124          1,100,207          230,255           352,813
                                                          ----------------- ------------------ ---------------- -----------------
Net cash provided by investing activities                        2,598,363         15,421,049          238,431         3,275,805
                                                          ----------------- ------------------ ---------------- -----------------

Financing activities:
Distributions to limited partners                               (7,920,672)        (7,863,357)      (2,679,030)       (2,620,945)
Repayment of non-recourse debt                                  (1,175,776)        (1,613,626)        (399,613)         (508,732)
                                                          ----------------- ------------------ ---------------- -----------------
Net cash used in financing activities                           (9,096,448)        (9,476,983)      (3,078,643)       (3,129,677)
                                                          ----------------- ------------------ ---------------- -----------------
Net increase (decrease) in cash and cash
   equivalents                                                  (3,965,448)         7,487,779       (2,374,942)          994,650
Cash and cash equivalents at beginning of
   period                                                        5,864,559            371,891        4,274,053         6,865,020
                                                          ----------------- ------------------ ---------------- -----------------
Cash and cash equivalents at end of period                      $1,899,111        $ 7,859,670       $1,899,111        $7,859,670
                                                          ================= ================== ================ =================


Supplemental disclosures of cash flow
   information:

Cash paid for interest                                           $ 137,166          $ 245,079         $ 34,121          $ 66,645
                                                          ================= ================== ================ =================
</TABLE>

                             See accompanying notes.



                                       5
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)


1.  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. Investment in leases:

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

<TABLE>
<CAPTION>
                                                                               Depreciation
                                                                               Expense or         Reclass-
                                                            December 31,      Amortization      ifications &     September 30,
                                                                1999            of Leases       Dispositions          2000
                                                                ----            ---------      --------------         ----
<S>                                                             <C>                <C>               <C>              <C>
Net investment in operating leases                              $4,402,707         $ (806,010)       $ 413,456        $4,010,153
Net investment in direct financing leases                        3,412,936           (682,124)        (298,277)        2,432,535
Equipment held for sale or lease                                   242,793                  -         (231,687)           11,106
Residual value interests                                           582,057                  -         (582,057)                -
Initial direct costs, net of accumulated
   amortization of $303,846 in 2000 and $514,804
   in 1999                                                          61,011            (31,310)               -            29,701
Reserve for losses                                                (652,082)                 -                -          (652,082)
                                                          ----------------- ------------------ ---------------- -----------------
                                                                $8,049,422        $(1,519,444)      $ (698,565)       $5,831,413
                                                          ================= ================== ================ =================
</TABLE>

At September 30, 2000, equipment on operating leases consists of the following:

<TABLE>
<CAPTION>
                                           Balance                                                                  Balance
                                         December 31,        Acquisitions, Dispositions & Reclassifications      September 30,
                                                             ----------------------------------------------
                                             1999           1st Quarter        2nd Quarter     3rd Quarter            2000
                                             ----           -----------        -----------     -----------            ----
<S>                                          <C>                 <C>               <C>              <C>               <C>
Printing                                     $ 3,478,749                                                              $3,478,749
Transportation                                 2,763,271         $ 513,879                           $ (18,130)        3,259,020
Construction equipment                         2,058,733          (263,984)         $ (38,554)               -         1,756,195
Ground support equipment                       1,127,988                 -                  -                -         1,127,988
Manufacturing                                    457,670                 -                  -                -           457,670
Materials handling                               291,920                 -                  -                -           291,920
Other                                            272,267          (188,627)                 -                -            83,640
                                      ------------------- ----------------- ------------------ ---------------- -----------------
                                              10,450,598            61,268            (38,554)         (18,130)       10,455,182
Accumulated depreciation                      (6,047,891)           88,352           (228,943)        (256,547)       (6,445,029)
                                      ------------------- ----------------- ------------------ ---------------- -----------------
                                             $ 4,402,707         $ 149,620         $ (267,497)      $ (274,677)       $4,010,153
                                      =================== ================= ================== ================ =================
</TABLE>

All of the equipment on operating  leases was acquired during 1992,  1993, 1994,
1995 and 1996.




                                       6

<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)


2. Investment in lease assets (continued):

At September 30, 2000,  the aggregate  amounts of future  minimum lease payments
are as follows:

<TABLE>
<CAPTION>
                                                               Direct
                                           Operating          Financing           Total
<S>                                           <C>               <C>               <C>
 Three months ending December 31, 2000         $ 377,444          $ 395,217        $ 772,661
         Year ending December 31, 2001         1,162,969          1,086,349        2,249,318
                                  2002           843,921            648,317        1,492,238
                                  2003           609,022            561,360        1,170,382
                                  2004                 -            424,000          424,000
                                        ----------------- ------------------ ----------------
                                              $2,993,356        $ 3,115,243       $6,108,599
                                        ================= ================== ================
</TABLE>


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
6.69% to 8.95%.



Future minimum principal  payments of non-recourse debt as of September 30, 2000
are as follows:

<TABLE>
<CAPTION>
                                          Principal          Interest            Total
<S>                                          <C>                 <C>             <C>
Three months ending December 31, 2000         $ 359,429          $ 26,229         $ 385,658
        Year ending December 31, 2001           697,282             56,062          753,344
                                 2002           250,450             19,870          270,320
                                 2003           106,480              2,861          109,341
                                       ----------------- ------------------ ----------------
                                             $1,413,641          $ 105,022       $1,518,663
                                       ================= ================== ================
</TABLE>


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  and
commissions, pursuant to the Agreement of Limited Partnership as follows:

                                             2000              1999
                                             ----              ----
Incentive and equipment management fees       $ 236,186         $ 525,619
Administrative cost reimbursements              178,446           168,992
                                        ---------------- -----------------
                                              $ 414,632         $ 694,611
                                        ================ =================





                                       7
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2000 AND 1999
                                   (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 Partner.


As more  fully  described  in the  Partnership  Agreement,  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.


                                       8

<PAGE>

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

Capital Resources and Liquidity

The  Partnership's  primary sources of liquidity during the first nine months of
2000 were operating lease rents 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  September  30,  2000,  the   Partnership   had  borrowed   approximately
$38,342,000,  with a  remaining  unpaid  balance  of  approximately  $1,414,000.
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 does not expect that there
will be additional borrowings in the future.

No  commitments  of capital  have been or are expected to be made other than for
the acquisition of additional equipment. As of September 30, 2000, 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.


2000 vs. 1999:
Nine months:

During the first nine months of 2000 and 1999,  the primary  source of operating
cash flows was  operating  lease  revenues.  Total lease  revenues  decreased by
$521,720 in 2000 compared to 1999.

In 2000  and  1999,  the most  significant  source  cash  flows  from  investing
activities was the proceeds from the sales of assets.  Proceeds from asset sales
are not  comparable  to prior  periods nor are they expected to be comparable to
future periods.  Direct financing lease rents decreased by $418,086  compared to
1999.

There were no sources of cash from financing activities in 2000 or in 1999. Cash
used to repay  non-recourse debt has decreased due to scheduled debt reductions.
Distributions to Limited Partners have not changed significantly.

                                       9

<PAGE>

Three months:

The  primary  source of cash from  operations  for the third  quarter  was lease
rents.  Lease rents have decreased from the prior year due to asset sales during
the preceding twelve months.

The primary  source of cash flows from  financing  activities  in 2000 was rents
from direct financing leases.

There  were no  sources of cash from  financing  activities  in 2000 or in 1999.
Repayments  of debt  decreased  for the same reasons as noted above for the nine
month period. Distributions to the limited partners were almost unchanged.

Results of Operations

Operations  in 2000  resulted  in net  income of  $1,982,342  for the nine month
period and $147,639 for the three month period. In 1999,  operations resulted in
net income of  $5,919,335  for the nine month  period and $534,437 for the three
month period.

2000 vs. 1999:

Operating  lease revenues have decreased due to sales and  reclassifications  of
leased assets during the last twelve  months.  Revenues  from  leveraged  leases
decreased  as a result of the sale of the  remaining  assets  on such  leveraged
leases in the second quarter of 1999.  Gains on sales of lease assets  decreased
significantly  and  resulted  largely  due to the 1999 sale of  leveraged  lease
assets  that had been on lease to Liquid  Carbonics.  There  were no  comparable
sales in 2000.

Depreciation  expense is  directly  related to the  amounts of  operating  lease
assets  and has  decreased  from 1999 to 2000 as a result of sales of  operating
lease assets over the last year.

Management  fees are related to the amounts of lease revenues and  distributions
to Limited Partners. As assets have been sold, lease revenues have decreased and
as a result, equipment management fees have also decreased. Incentive management
fees  (which are related to the  distributions  of  operating  cash flows to the
limited partners) have also decreased as less of the distributions  were of cash
from  operations  than in 1999.  As a result of  reductions  in the  outstanding
non-recourse debt, interest expense has decreased compared to 1999.



                                       10
<PAGE>

                            PART II OTHER INFORMATION

Item 1.                      LEGAL PROCEEDINGS.

                               Inapplicable.

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  Sheets,  September 30, 2000 and December
                               31, 1999.

                               Income  statements  for the nine and three  month
                               periods ended September 30, 2000 and 1999.

                               Statement of changes in partners'  equity for the
                               nine month period ended September 30, 2000.

                               Statements  of cash  flows for the nine and three
                               month periods ended September 30, 2000 and 1999.

                               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



                                       11
<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:
November 9, 2000

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



                                  By: ATEL Financial Corporation
                                      General Partner of Registrant




                                  By:    /s/ A. J. BATT
                                       ------------------------------------
                                       A. J. Batt
                                       President and Chief Executive Officer
                                       of General Partner




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




                                  By:   /s/ PARITOSH K. CHOKSI
                                      --------------------------------------
                                      Paritosh K. Choksi
                                      Principal financial officer of
                                      registrant




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

                                       12
<PAGE>