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, 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 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, 2001
                                   (Unaudited)


                                     ASSETS


Cash and cash equivalents                                            $ 900,623

Accounts receivable, net of allowance for doubtful
   accounts of $67,211                                                 190,315

Investment in leases                                                 2,880,578
                                                                   ------------
                                                                    $3,971,516
                                                                   ============


                        LIABILITIES AND PARTNERS' CAPITAL


Non-recourse debt                                                    $ 347,432

Accounts payable                                                        41,149

Accrued interest                                                         2,507

Unearned operating lease income                                         43,947
                                                                   ------------
Total liabilities                                                      435,035

Partners' capital:
     General Partner                                                   228,780
     Limited Partners                                                3,307,701
                                                                   ------------
Total partners' capital                                              3,536,481
                                                                   ------------
                                                                    $3,971,516
                                                                   ============





                             See accompanying notes.



                                       3
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                                INCOME STATEMENTS

                       NINE AND THREE MONTH PERIODS ENDED
                           SEPTEMBER 30, 2001 AND 2000
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                    Nine Months Ended                   Three Months Ended
                                                       September 30,                       September 30,
                                                       -------------                       -------------
Revenues:                                         2001              2000              2001              2000
                                                  ----              ----              ----              ----
Lease revenues:
<S>                                                <C>             <C>                 <C>               <C>
   Operating                                       $ 491,177       $ 1,634,319         $ 176,164         $ 408,028
   Direct financing                                  507,781           524,587           219,166           165,707
   Gain (loss) on sales of assets                     19,149         1,217,674            21,065            (5,480)
Interest income                                       19,718           182,983             6,119            72,863
Other                                                  1,193            38,487                11               709
                                            ----------------- ----------------- ----------------- -----------------
                                                   1,039,018         3,598,050           422,525           641,827
Expenses:
Cost reimbursements to General Partner               445,163           178,446           193,879            70,959
Depreciation and amortization                        360,895           837,320           111,517           276,637
Other                                                 82,065            80,631            20,797            24,463
Interest                                              31,749           132,397             7,898            32,501
Professional fees                                     26,197            39,491               122             3,674
Management fees                                            -           236,186                 -            85,954
Railcar maintenance                                        -           111,237                 -                 -
                                            ----------------- ----------------- ----------------- -----------------
                                                     946,069         1,615,708           334,213           494,188
                                            ----------------- ----------------- ----------------- -----------------
Net income                                          $ 92,949       $ 1,982,342          $ 88,312         $ 147,639
                                            ================= ================= ================= =================
Net income:
     General Partner                                   $ 929          $ 19,823             $ 883           $ 1,476
     Limited Partners                                 92,020         1,962,519            87,429           146,163
                                            ----------------- ----------------- ----------------- -----------------
                                                    $ 92,949       $ 1,982,342          $ 88,312         $ 147,639
                                            ================= ================= ================= =================
Net income per Limited Partnership unit                $0.01             $0.26             $0.01             $0.02
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, 2001
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                  Limited Partners       General
                                      Units             Amount           Partner            Total
<S>              <C> <C>                <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                                                   92,020               929            92,949
                                 ----------------- ----------------- ----------------- -----------------
Balance September 30, 2001              7,487,350       $ 3,307,701         $ 228,780        $3,536,481
                                 ================= ================= ================= =================
</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, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                  Nine Months Ended                   Three Months Ended
                                                           September 30,                       September 30,
                                                           -------------                       -------------
                                                                2001              2000              2001              2000
                                                                ----              ----              ----              ----
Operating activities:
<S>                                                               <C>            <C>                  <C>              <C>
Net income                                                        $ 92,949       $ 1,982,342          $ 88,312         $ 147,639
Adjustments to reconcile net income to
   net cash provided by operations:
     Depreciation and amortization                                 360,895           837,320           111,517           276,637
     (Gain) loss on sales of assets                                (19,149)       (1,217,674)          (21,065)            5,480
Changes in operating assets and liabilities:
   Accounts receivable                                           2,033,678         1,266,447            48,055            53,982
   Bank overdrafts                                                (230,243)                                  -
   Accounts payable, General Partner                               (32,722)          (36,787)                -           (10,338)
   Accounts payable, other                                         (51,970)         (233,672)          (79,396)            6,268
   Accrued interest                                                 (2,949)           (4,769)             (397)           (1,620)
   Unearned operating lease income                                 (10,298)          (60,570)          (37,915)          (12,778)
                                                          ----------------- ----------------- ----------------- -----------------
Net cash from operations                                         2,140,191         2,532,637           109,111           465,270
                                                          ----------------- ----------------- ----------------- -----------------

Investing activities:
Proceeds from sales of lease assets                                166,285         1,916,239           (14,505)            8,176
Reduction of net investment in direct financing
   leases                                                          331,859           682,124            90,637           230,255
                                                          ----------------- ----------------- ----------------- -----------------
Net cash provided by investing activities                          498,144         2,598,363            76,132           238,431
                                                          ----------------- ----------------- ----------------- -----------------

Financing activities:
Distributions to limited partners                               (1,331,182)       (7,920,672)                -        (2,679,030)
Repayment of non-recourse debt                                    (461,975)       (1,175,776)          (54,826)         (399,613)
                                                          ----------------- ----------------- ----------------- -----------------
Net cash used in financing activities                           (1,793,157)       (9,096,448)          (54,826)       (3,078,643)
                                                          ----------------- ----------------- ----------------- -----------------
Net increase (decrease) in cash and cash
   equivalents                                                     845,178        (3,965,448)          130,417        (2,374,942)
Cash and cash equivalents at beginning of
   period                                                           55,445         5,864,559           770,206         4,274,053
                                                          ----------------- ----------------- ----------------- -----------------
Cash and cash equivalents at end of period                       $ 900,623       $ 1,899,111         $ 900,623        $1,899,111
                                                          ================= ================= ================= =================


Supplemental disclosures of cash flow
   information:
Cash paid for interest                                            $ 34,698         $ 137,166           $ 8,295          $ 34,121
                                                          ================= ================= ================= =================
</TABLE>

                             See accompanying notes.


                                       5
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000
                                   (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,
                                                                2000           of Leases        Dispositions          2001
                                                                ----           ---------      - -------------         ----
<S>                                                             <C>               <C>               <C>               <C>
Net investment in operating leases                              $2,589,544        $ (351,612)       $ (129,549)       $2,108,383
Net investment in direct financing leases                        1,674,127          (331,859)           (6,479)        1,335,789
Equipment held for sale or lease                                    11,108                 -           (11,108)                -
Initial direct costs, net of accumulated
   amortization of $108,739 in 2001 and $99,456
   in 2000                                                          30,560            (9,283)                -            21,277
Reserve for losses                                                (584,871)                -                 -          (584,871)
                                                          ----------------- ----------------- ----------------- -----------------
                                                                $3,720,468        $ (692,754)       $ (147,136)       $2,880,578
                                                          ================= ================= ================= =================
</TABLE>

At September 30, 2001, equipment on operating leases consists of the following:

<TABLE>
<CAPTION>
                                           Balance                                                                  Balance
                                         December 31,        Acquisitions, Dispositions & Reclassifications      September 30,
                                                             ----------------------------------------------
                                             2000           1st Quarter       2nd Quarter     3rd Quarter             2001
                                             ----           -----------       -----------     -----------             ----
<S>                                          <C>                <C>               <C>               <C>               <C>
Transportation                               $ 3,196,692        $ (124,809)       $ (112,294)       $ (102,604)       $2,856,985
Construction equipment                         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)         (102,604)        5,388,862
Accumulated depreciation                      (3,139,025)          (57,186)          (41,324)          (42,944)       (3,280,479)
                                      ------------------- ----------------- ----------------- ----------------- -----------------
                                             $ 2,589,544        $ (181,995)       $ (153,618)       $ (145,548)       $2,108,383
                                      =================== ================= ================= ================= =================
</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, 2001 AND 2000
                                   (Unaudited)


2. Investment in lease assets (continued):

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

<TABLE>
<CAPTION>
                                                              Direct
                                          Operating         Financing           Total
<S>                          <C> <C>          <C>               <C>               <C>
Three months ending December 31, 2001         $ 210,741         $ 226,500         $ 437,241
        Year ending December 31, 2002           707,195           906,000         1,613,195
                                 2003           535,663           906,000         1,441,663
                                 2004                 -           595,199           595,199
                                       ----------------- ----------------- -----------------
                                             $1,453,599       $ 2,633,699        $4,087,298
                                       ================= ================= =================
</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, 2001
are as follows:

<TABLE>
<CAPTION>
                                           Principal          Interest           Total
<S>                                            <C>                 <C>              <C>
 Three months ending December 31, 2001         $  53,036           $ 7,138          $ 60,174
         Year ending December 31, 2002           187,916            18,137           206,053
                                  2003           106,480             2,861           109,341
                                        ----------------- ----------------- -----------------
                                               $ 347,432          $ 28,136         $ 375,568
                                        ================= ================= =================
</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:

                                                   2001              2000
                                                   ----              ----
Cost reimbursements to General Partner              $ 445,163         $ 178,446
Incentive and equipment management fees                     -           236,186
                                             ----------------- -----------------
                                                    $ 445,163         $ 414,632
                                             ================= =================


                                       7
<PAGE>

                      ATEL CASH DISTRIBUTION FUND IV, L.P.

                          NOTES TO FINANCIAL STATEMENTS

                           SEPTEMBER 30, 2001 AND 2000
                                   (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

Our  primary  sources of  liquidity  during  the first nine  months of 2001 were
operating  and direct  finance lease rents.  Liquidity  will vary in the future,
increasing to the extent cash flows from leases exceed expenses,  and decreasing
as  distributions  are made to the Limited  Partners and to the extent  expenses
exceed cash flows from leases.

We currently have available adequate reserves to meet contingencies,  but in the
event  those  reserves  were  found to be  inadequate,  we would  likely be in a
position to borrow against our current portfolio to meet such  requirements.  We
envision no such requirements for operating purposes.

As of September  30, 2001,  we had borrowed  approximately  $38,342,000,  with a
remaining  unpaid  balance  of  approximately  $347,000.  Borrowings  are  to be
non-recourse  to us,  that is, the only  recourse  of the lender  will be to the
equipment or corresponding lease acquired or secured with the loan proceeds.  We
do not expect that there will be additional borrowings in the future.

As of September 30, 2001, we have made no commitments of capital.

If inflation in the general  economy  becomes  significant,  it may affect us in
that the residual  (resale)  values and rates on re-leases of our leased  assets
may increase as the costs of similar assets increase. However, our 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 we 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.


2001 vs. 2000:

Nine months:

During the first nine months of 2001 and 2000,  our primary  source of operating
cash flows was operating and direct  financing lease  revenues.  Our total lease
revenues decreased by $1,159,948 in 2001 compared to 2000.

In 2001,  direct  financing  lease  payments were our most  important  source of
financing  cash  flows.  In 2000,  the most  significant  source cash flows from
investing  activities  was the proceeds  from the sales of assets.  Our 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 $350,265
compared to 2000.

We had no sources of cash from financing activities in 2001 or in 2000. The cash
we  used  to  repay  non-recourse  debt  has  decreased  due to  scheduled  debt
reductions.  Our distributions to Limited Partners have decreased  significantly
as a result of the suspension of distributions in January 2001.


Three months:

Our  primary  source of cash from  operations  for the third  quarter  was lease
rents. These lease rents have decreased from the prior year as a result of asset
sales during the preceding twelve months.

Our primary  source of cash flows from  financing  activities  in 2001 was rents
from direct financing leases.



                                       9
<PAGE>

We had no  sources  of cash  from  financing  activities  in  2001  or in  2000.
Repayments  of debt  decreased  for the same reasons as noted above for the nine
month  period.  We made no  distributions  to the limited  partners in the third
quarter of 2001 as a result of the suspension of  distributions  noted above for
the nine month period.

Results of Operations

In 2001,  our  operations  resulted  in net income of $92,949 for the nine month
period and $88,312 for the three month period.  Our  operations in 2000 resulted
in net income of $1,982,342 for the nine month period and $147,639 for the three
month period.

2001 vs. 2000:

Our operating  lease revenues have decreased due to sales and  reclassifications
of leased assets during the last twelve months.

Depreciation  expense is  directly  related to the  amounts of  operating  lease
assets  and has  decreased  from 2000 to 2001 as a result of sales of  operating
lease assets over the last year.

Effective  January 1, 2001, the General Partner has ceased taking any management
fees. In prior years,  our management  fees were related to the amounts of lease
revenues and distributions to Limited Partners. As a result of reductions in the
outstanding non-recourse debt, interest expense has decreased compared to 2000.



                            PART II OTHER INFORMATION

Item 1.  LEGAL PROCEEDINGS.

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

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 was  objected  to by several
large creditors,  including the General Partner.  These creditors were seeking a
formal role on the creditors committee or formation of their own committee.

Upon the termination of the Debtor's  exclusivity  period,  competing plans were
filed by other creditors to the plan, and voting on the competing plans occurred
on October 8, 2001. The results of the vote have not yet been made public.

                                       10
<PAGE>

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 Sheets, September 30, 2001 and December
             31, 2000.

             Income statements for the nine and three month
             periods ended September 30, 2001 and 2000.

             Statement of changes in partners' equity for the
             nine month period ended September 30, 2001.

             Statements of cash flows for the nine and three
             month periods ended September 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



                                       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 12, 2001

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



           By: ATEL Financial Corporation
               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
                                   Managing Member and
                                   Principal financial officer of
                                   registrant




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