FORM 10-Q

                       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 March 31, 2002
   --------------------------------------------------------------------------

                                       OR

             ( ) 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
                                     0-23974
                     ---------------------------------------


                            CNL Income Fund XIV, Ltd.
-----------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


           Florida                                         59-3143096
------------------------------------              ---------------------------
(State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization)                           Identification No.)


450 South Orange Avenue
Orlando, Florida                                             32801
------------------------------------              ----------------------------
(Address of principal executive offices)                  (Zip Code)


Registrant's telephone number
(including area code)                                   (407) 540-2000
                                                  ----------------------------


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Sections  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 _________





<PAGE>


                                    CONTENTS





Part I                                                                 Page
                                                                       ----

   Item 1.    Financial Statements:

                  Condensed Balance Sheets                              1

                  Condensed Statements of Income                        2

                  Condensed Statements of Partners' Capital             3

                  Condensed Statements of Cash Flows                    4

                  Notes to Condensed Financial Statements               5-7

   Item 2.    Management's Discussion and Analysis of Financia
                  Condition and Results of Operations                   8-12

   Item 3.   Quantitative and Qualitative Disclosures About
                  Market Risk                                           12

Part II

   Other Information                                                    13-14















<PAGE>

                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                            CONDENSED BALANCE SHEETS
<TABLE>
<CAPTION>


                                                                               March 31,             December 31,
                                                                                  2002                   2001
                                                                           -------------------    -------------------

 <c>
                               ASSETS

   Land and buildings on operating leases, net                                   $ 23,814,561           $ 22,954,399
   Net investment in direct financing leases                                        5,940,767              6,315,829
   Real estate held for sale                                                          907,355                908,502
   Investment in joint ventures                                                     4,602,159              4,639,435
   Cash and cash equivalents                                                          834,242              1,039,216
   Receivables, less allowance for doubtful accounts
       of $89,179 and $77,256, respectively                                            19,928                 80,044
   Due from related parties                                                             8,750                  7,045
   Accrued rental income, less allowance for doubtful
       accounts of $48,635 in 2002 and 2001                                         2,303,510              2,261,705
   Other assets                                                                        42,633                 47,734
                                                                           -------------------    -------------------

                                                                                 $ 38,473,905           $ 38,253,909
                                                                           ===================    ===================

                  LIABILITIES AND PARTNERS' CAPITAL

   Accounts payable                                                                $   16,851             $   21,657
   Real estate taxes payable                                                           20,383                 28,596
   Distributions payable                                                              928,130                928,130
   Due to related parties                                                              26,720                 14,154
   Rents paid in advance and deposits                                                  91,586                104,907
   Deferred rental income                                                              25,339                 51,443
                                                                           -------------------    -------------------
       Total liabilities                                                            1,109,009              1,148,887

   Commitment (Note 5)

   Partners' capital                                                               37,364,896             37,105,022
                                                                           -------------------    -------------------

                                                                                 $ 38,473,905           $ 38,253,909
                                                                           ===================    ===================
</TABLE>
           See accompanying notes to condensed financial statements.


<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                         CONDENSED STATEMENTS OF INCOME

<TABLE>
<CAPTION>

                                                                                    Quarter Ended
                                                                                      March 31,
                                                                                2002              2001
                                                                           ---------------    --------------

 <c>
Revenues:
    Rental income from operating leases                                         $ 670,314         $ 661,753
    Earned income from direct financing leases                                    157,222           180,579
    Contingent rental income                                                       16,642            12,337
    Interest and other income                                                       4,095            10,514
                                                                           ---------------    --------------
                                                                                  848,273           865,183
                                                                           ---------------    --------------

Expenses:
    General operating and administrative                                           83,867           137,956
    Professional services                                                          22,562            21,046
    Management fees to related party                                               10,239            10,571
    Real estate taxes                                                               3,961             9,204
    State and other taxes                                                          32,025            61,397
    Depreciation and amortization                                                  94,058            92,803
                                                                           ---------------    --------------
                                                                                  246,712           332,977
                                                                           ---------------    --------------

Income Before Gain on Sale of Assets and Equity
    in Earnings of Joint Ventures                                                 601,561           532,206

Gain on Sale of Assets                                                            497,688                --

Equity in Earnings of Joint Ventures                                               65,419            91,009
                                                                           ---------------    --------------

Income from Continuing Operations                                               1,164,668           623,215
                                                                           ---------------    --------------

Discontinued Operations (Note 4):
    Income from discontinued operations                                            23,336            21,045
                                                                           ---------------    --------------

Net Income                                                                     $1,188,004         $ 644,260
                                                                           ===============    ==============

Net Income Per Limited Partner Unit
    Continuing operations                                                        $   0.25          $   0.13
    Discontinued operations                                                          0.01              0.01
                                                                           ---------------    --------------
                                                                                 $   0.26          $   0.14
                                                                           ===============    ==============

Weighted Average Number of Limited Partner
    Units Outstanding                                                           4,500,000         4,500,000
                                                                           ===============    ==============
</TABLE>
           See accompanying notes to condensed financial statements.

<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                    CONDENSED STATEMENTS OF PARTNERS' CAPITAL

<TABLE>
<CAPTION>

                                                            Quarter Ended           Year Ended
                                                              March 31,            December 31,
                                                                 2002                  2001
                                                          -------------------    ------------------

 <c>
General partners:
    Beginning balance                                            $   209,255            $  209,255
    Net income                                                            --                    --
                                                          -------------------    ------------------
                                                                     209,255               209,255
                                                          -------------------    ------------------

Limited partners:
    Beginning balance                                             36,895,767            38,104,189
    Net income                                                     1,188,004             2,504,098
    Distributions ($0.21 and $0.83 per
       limited partner unit, respectively)                          (928,130 )          (3,712,520 )
                                                          -------------------    ------------------
                                                                  37,155,641            36,895,767
                                                          -------------------    ------------------

Total partners' capital                                         $ 37,364,896          $ 37,105,022
                                                          ===================    ==================
</TABLE>
           See accompanying notes to condensed financial statements.



<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                       CONDENSED STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>

                                                                                            Quarter Ended
                                                                                              March 31,
                                                                                     2002                  2001
                                                                                ----------------      ----------------

 <c>
Increase (Decrease) in Cash and Cash Equivalents

    Net Cash Provided by Operating Activities                                        $  841,566             $ 959,990
                                                                                ----------------      ----------------

    Cash Flows from Investing Activities:
       Proceeds from sale of assets                                                   1,143,753                    --
       Additions to land and buildings on operating leases                           (1,262,163 )                  --
                                                                                ----------------      ----------------
          Net cash used in investing activities                                        (118,410 )                  --
                                                                                ----------------      ----------------

    Cash Flows from Financing Activities:
       Distributions to limited partners                                               (928,130 )            (928,130 )
                                                                                ----------------      ----------------
          Net cash used in financing activities                                        (928,130 )            (928,130 )
                                                                                ----------------      ----------------

Net Increase (Decrease) in Cash and Cash Equivalents                                   (204,974 )              31,860

Cash and Cash Equivalents at Beginning of Quarter                                     1,039,216             1,038,555
                                                                                ----------------      ----------------

Cash and Cash Equivalents at End of Quarter                                          $  834,242            $1,070,415
                                                                                ================      ================

Supplemental Schedule of Non-Cash Financing
    Activities:

       Distributions declared and unpaid at end of
          quarter                                                                    $  928,130             $ 928,130
                                                                                ================      ================


</TABLE>
           See accompanying notes to condensed financial statements.

<PAGE>
                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                     Quarters Ended March 31, 2002 and 2001


1.       Basis of Presentation:

         The accompanying  unaudited  condensed  financial  statements have been
         prepared in accordance  with the  instructions  to Form 10-Q and do not
         include  all  of the  information  and  note  disclosures  required  by
         generally  accepted  accounting  principles.  The financial  statements
         reflect all adjustments,  consisting of normal  recurring  adjustments,
         which are, in the opinion of management,  necessary to a fair statement
         of the results for the interim periods presented. Operating results for
         the quarter ended March 31, 2002,  may not be indicative of the results
         that may be expected for the year ending December 31, 2002.  Amounts as
         of December 31, 2001, included in the financial  statements,  have been
         derived from audited financial statements as of that date.

         These unaudited financial statements should be read in conjunction with
         the financial statements and notes thereto included in Form 10-K of CNL
         Income Fund XIV, Ltd. (the  "Partnership")  for the year ended December
         31, 2001.

         Effective  January  1,  2002,  the  Partnership  adopted  Statement  of
         Financial  Accounting  Standards No. 144 "Accounting for the Impairment
         or Disposal of  Long-Lived  Assets."  This  statement  requires  that a
         long-lived  asset be  tested  for  recoverability  whenever  events  or
         changes in  circumstances  indicate that its carrying amount may not be
         recoverable.   The  carrying  amount  of  a  long-lived  asset  is  not
         recoverable  if it  exceeds  the  sum of the  undiscounted  cash  flows
         expected to result from the use and eventual  disposition of the asset.
         The assessment is based on the carrying amount of the asset at the date
         it is tested for recoverability.  An impairment loss is recognized when
         the carrying amount of a long-lived asset exceeds its fair value. If an
         impairment is recognized,  the adjusted carrying amount of a long-lived
         asset is its new cost  basis.  The  statement  also  requires  that the
         results of  operations of a component of an entity that either has been
         disposed  of or is  classified  as  held  for  sale  be  reported  as a
         discontinued   operation  if  the  disposal   activity  was   initiated
         subsequent to the adoption of the Standard.

2.       Reclassification:

         Certain  items in the  prior  year's  financial  statements  have  been
         reclassified to conform to 2002 presentation.  These  reclassifications
         had no effect on total partners' capital or net income.


<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                     Quarters Ended March 31, 2002 and 2001


3.       Land and Buildings on Operating Leases:

         In  February  2002,  the  Partnership  sold its  property in Las Vegas,
         Nevada,  to an unrelated  third party for  $1,200,000  and received net
         sales  proceeds of  approximately  $1,143,800,  resulting  in a gain of
         approximately $497,700. In March 2002, the Partnership reinvested these
         net  sales  proceeds  in  a  property  in  San  Antonio,  Texas  at  an
         approximate cost of $1,262,200.  The Partnership acquired this property
         from CNL Funding  2001-A,  LP, a Delaware  limited  partnership  and an
         affiliate of the general partners (see Note 5).

4.       Discontinued Operations:

         In February  2002,  the  Partnership  entered into an agreement with an
         unrelated third party to sell the Jack in the Box property in Mesquite,
         Texas. As a result,  the Partnership  reclassified  the asset from land
         and  building on  operating  leases and accrued  rental  income to real
         estate held for sale. The reclassified  asset was recorded at the lower
         of its carrying  amount or fair value,  less cost to sell. In addition,
         the  Partnership  stopped  recording  depreciation  and accrued  rental
         income once the property was placed up for sale. The financial  results
         for this  property are  reflected  as  Discontinued  Operations  in the
         accompanying financial statements.

         The operating results of the discontinued operations are as follows:
<TABLE>
<CAPTION>

                                                             Quarter Ended March 31,
                                                            2002                 2001
                                                      ------------------   ------------------

 <c>
            Rental revenues                           $        24,805             $   25,452
            Expenses                                             (1,469 )             (4,407 )
                                                      ------------------   ------------------
            Income from discontinued operations              $   23,336           $   21,045
                                                      ==================   ==================
</TABLE>

5.       Related Party Transactions:

         In March 2002,  the  Partnership  acquired a property  in San  Antonio,
         Texas  from  CNL  Funding   2001-A,   LP,  for  a  purchase   price  of
         approximately  $1,262,200  (see Note 3). CNL  Funding  2001-A,  LP is a
         Delaware limited  partnership and an affiliate of the general partners.
         CNL Funding 2001-A,  LP had purchased and temporarily held title to the
         property in order to facilitate the  acquisition of the property by the
         Partnership. The purchase price paid by the Partnership represented the
         costs  incurred by CNL  Funding  2001-A,  LP to acquire  the  property,
         including closing costs.


<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                     Quarters Ended March 31, 2002 and 2001


6.       Commitment:

         In February  2002,  the  Partnership  entered into an agreement with an
         unrelated third party to sell the Jack in the Box property in Mesquite,
         Texas (see Note 4).


<PAGE>


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

         CNL Income Fund XIV,  Ltd.  (the  "Partnership")  is a Florida  limited
partnership  that was  organized  on September  25,  1992,  to acquire for cash,
either directly or through joint venture  arrangements,  both newly  constructed
and  existing  restaurants,  as well as land upon which  restaurants  were to be
constructed  (the  "Properties"),  which are leased  primarily  to  operators of
national and regional  fast-food and family-style  restaurant chains. The leases
generally are triple-net leases, with the lessee responsible for all repairs and
maintenance,  property taxes, insurance and utilities. As of March 31, 2002, the
Partnership  owned 55 Properties,  either  directly or indirectly  through joint
venture or tenancy in common arrangements.

Capital Resources

         The  Partnership's  primary  source of capital for the  quarters  ended
March 31, 2002 and 2001 was cash from  operations  (which includes cash received
from tenants,  distributions from joint ventures,  and interest and other income
received,  less cash paid for expenses).  Cash from  operations was $841,566 and
$959,990  for the  quarters  ended  March 31, 2002 and 2001,  respectively.  The
decrease in cash from  operations  for the  quarter  ended  March 31,  2002,  as
compared to the quarter ended March 31, 2001,  was primarily a result of changes
in the Partnership's working capital.

         Other  sources and uses of capital  included the  following  during the
quarter ended March 31, 2002.

         In  February  2002,  the  Partnership  sold its  Property in Las Vegas,
Nevada,  to an  unrelated  third party for  $1,200,000  and  received  net sales
proceeds  of  approximately  $1,143,800,  resulting  in a gain of  approximately
$497,700. In March 2002, the Partnership  reinvested these net sales proceeds in
a Property in San  Antonio,  Texas at an  approximate  cost of  $1,262,200.  The
Partnership  acquired  this  Property  from CNL Funding  2001-A,  LP, a Delaware
limited  partnership  and an  affiliate  of the  general  partners.  CNL Funding
2001-A,  LP had purchased and temporarily held title to the Property in order to
facilitate  the  acquisition  of the Property by the  Partnership.  The purchase
price paid by the  Partnership  represented  the costs  incurred  by CNL Funding
2001-A, LP to acquire the Property, including closing costs. The transaction, or
a portion  thereof,  relating to the sale of the Property in Las Vegas,  Nevada,
and the  reinvestment of the net sales proceeds,  was structured to qualify as a
like-kind exchange transaction for federal income tax purposes.  The Partnership
anticipates its distributions  will be sufficient to enable the limited partners
to pay federal and state income taxes, if any (at a level reasonably  assumed by
the general partners) resulting from this transaction.

         Currently,  rental income from the Partnership's Properties is invested
in money market accounts or other short-term,  highly liquid investments such as
demand  deposit  accounts  at  commercial  banks,   money  market  accounts  and
certificates  of deposit  with less than a 90-day  maturity  date,  pending  the
Partnership's  use  of  such  funds  to  pay  Partnership  expenses  or to  make
distributions  to the partners.  At March 31, 2002, the Partnership had $834,242
invested in such short-term  investments,  as compared to $1,039,216 at December
31,  2001.  The  funds  remaining  at  March  31,  2002  will  be  used  to  pay
distributions and other liabilities of the Partnership.

Short Term Liquidity

         The Partnership's  short-term liquidity  requirements consist primarily
of the operating expenses of the Partnership.

         The Partnership's  investment strategy of acquiring Properties for cash
and  leasing  them under  triple-net  leases to  operators  who  generally  meet
specified financial  standards  minimizes the Partnership's  operating expenses.
The general partners believe that the leases will continue to generate cash flow
in excess of operating expenses.

         The general  partners have the right,  but not the obligation,  to make
additional capital  contributions if they deem it appropriate in connection with
the operations of the Partnership.

         The Partnership  generally  distributes cash from operations  remaining
after the payment of operating  expenses of the Partnership,  to the extent that
the general partners  determine that such funds are available for  distribution.
Based on cash from  operations,  and for the  quarter  ended March 31,  2002,  a
portion of the 2001 return of capital from Wood-Ridge Real Estate Joint Venture,
the Partnership  declared  distributions to the limited partners of $928,130 for
each  of  the  quarters  ended  March  31,  2002  and  2001.   This   represents
distributions  for each applicable  quarter of $0.21 per unit. No  distributions
were made to the  general  partners  for the  quarters  ended March 31, 2002 and
2001.  No amounts  distributed  to the limited  partners for the quarters  ended
March  31,  2002  and  2001  are  required  to be or have  been  treated  by the
Partnership  as a return of capital  for  purposes  of  calculating  the limited
partners' return on their adjusted capital contribution. The Partnership intends
to continue to make  distributions  of cash  available for  distribution  to the
limited partners on a quarterly basis.

         Total liabilities of the Partnership,  including distributions payable,
decreased to $1,109,009 at March 31, 2002, from $1,148,887 at December 31, 2001.
The decrease in liabilities at March 31, 2002 was primarily due to a decrease in
rents paid in advance and deferred  rental income at March 31, 2002, as compared
to December 31, 2001.  Total  liabilities  at March 31, 2002, to the extent they
exceed cash and cash  equivalents  at March 31,  2002,  will be paid from future
cash  from  operations,  and in the  event the  general  partners  elect to make
additional   loans  or   contributions,   from   general   partners'   loans  or
contributions.

         In February  2002,  the  Partnership  entered into an agreement with an
unrelated  third party to sell the Jack in the Box Property in Mesquite,  Texas.
As a result,  the  Partnership  reclassified  the asset to real  estate held for
sale. As of April 30, 2002, the sale had not occurred.

Long Term Liquidity

         The  Partnership  has no long-term  debt or other  long-term  liquidity
requirements.



<PAGE>


Results of Operations

         During the quarter  ended March 31,  2001,  the  Partnership  owned and
leased 42 wholly owned  Properties  (excluding one Property which was classified
as real estate held for sale) and during the quarter  ended March 31, 2002,  the
Partnership owned and leased 43 wholly owned Properties  (including one Property
which was sold in February 2002 and excluding one Property  which was classified
as real  estate  held for  sale) to  operators  of fast  food and  family  style
restaurant chains. In connection therewith,  during the quarters ended March 31,
2002 and 2001, the Partnership  earned $827,536 and $842,332,  respectively,  in
rental  income from  operating  leases and earned  income from direct  financing
leases from these  Properties.  The decrease in rental and earned  income during
the quarter  ended March 31,  2002,  as compared to the quarter  ended March 31,
2001, was partially due to the fact that during 2001, the tenant of the Property
in Las Vegas, Nevada ceased restaurant  operations and vacated the Property.  In
February 2002, the  Partnership  sold this Property to an unrelated third party,
as  described  above in "Capital  Resources."  The decrease in rental and earned
income  during the quarter  ended March 31,  2002,  was  partially  offset by an
increase in rental  income due to the fact that in March 2002,  the  Partnership
reinvested these sales proceeds in an additional Property in San Antonio, Texas,
as described above in "Capital Resources."

         Revenues  remained at reduced  amounts  during the quarters ended March
31, 2002 and 2001, due to the fact that prior to 2001, Long John Silver's,  Inc.
and Elias Brothers  Restaurants,  Inc.,  which each leased one Property with the
Partnership,  filed for bankruptcy and rejected their  respective  leases.  As a
result,  the  Partnership  stopped  recording  rental revenue  relating to these
Properties. The Partnership will not recognize any rental and earned income from
these  Properties  until the Properties are re-leased or the Properties are sold
and the proceeds are reinvested in additional  Properties.  The general partners
are currently  seeking  replacement  tenants or purchasers for these Properties.
The lost revenues  resulting  from the vacant  Properties  could have an adverse
effect on the results of operations of the  Partnership,  if the  Partnership is
not able to re-lease or sell the Properties in a timely manner.

         In February  2002,  the  Partnership  entered into an agreement with an
unrelated  third party to sell the Jack in the Box Property in Mesquite,  Texas.
The  Partnership  expects to use the  proceeds  from the sale to  reinvest in an
additional income producing Property.  In accordance with Statement of Financial
Accounting  Standards  No. 144,  "Accounting  for the  Impairment or Disposal of
Long-Lived  Assets,"  the  Partnership  reclassified  the  asset  from  land and
building on operating  leases and accrued  rental income to real estate held for
sale.  The  Partnership  recorded  the  reclassified  asset at the  lower of its
carrying  amount or fair  value,  less cost to sell.  In  addition,  during  the
quarter ended March 31, 2002, the Partnership stopped recording depreciation and
accrued  rental  income upon placing the Property up for sale.  The  Partnership
recognized net rental income,  less Property  related  expenses,  of $23,336 and
$21,045 during the quarter ended March 31, 2002 and 2001,  respectively relating
to this Property. These amounts were reclassified to Discontinued Operations.

         During the quarter  ended March 31,  2001,  the  Partnership  owned and
leased 12 Properties  indirectly through joint venture  arrangements  (including
one Property  which was sold in 2001) and one Property  with an affiliate of the
general partners, as tenants-in-common. During the quarter ended March 31, 2002,
the Partnership owned and leased 11 Properties  indirectly through joint venture
arrangements  and  one  Property  with an  affiliate  as  tenants-in-common.  In
connection  therewith,  during the quarters  ended March 31, 2002 and 2001,  the
Partnership earned $65,419 and $91,009, respectively, attributable to net income
earned by these  joint  ventures.  The  decrease  in net income  earned by joint
ventures  during the quarter  ended March 31,  2002,  as compared to the quarter
ended  March 31,  2001,  was  partially  due to the fact that the  tenant of the
Property  owned by Duluth Joint  Venture,  in which the  Partnership  owns a 44%
interest,  experienced financial  difficulties and ceased making rental payments
to the joint venture. As a result, Duluth Joint Venture stopped recording rental
revenues  during the quarter ended March 31, 2002. In addition,  the decrease in
net income earned by joint ventures during the quarter ended March 31, 2002, was
partially  due to the  fact  that in May  2001,  Wood-Ridge  Real  Estate  Joint
Venture,  in which the  Partnership  owns a 50%  interest,  sold its Property in
Paris,  Texas to the tenant,  in accordance  with the purchase  option under the
lease  agreement.  During  2001,  the joint  venture  distributed  the net sales
proceeds  received from the sale as a return of capital to the  Partnership  and
the other joint venture partner.  The Partnership used this return of capital to
pay  liabilities of the  Partnership,  including  quarterly  distributions.  The
decrease in net income earned by joint  ventures  during the quarter ended March
31, 2002,  was partially  offset by the fact that in June 2000,  the operator of
the Property owned by Melbourne Joint Venture,  in which the Partnership  owns a
50% interest,  vacated the Property and  discontinued  operations.  As a result,
during 2000, the joint venture  stopped  recording  rental  revenues.  The joint
venture did not  recognize  any rental income until June 2001, at which time the
joint venture re-leased this Property to a new tenant.  The lease terms for this
Property are substantially the same as the Partnership's other leases.

         Operating expenses,  including  depreciation and amortization  expense,
were  $246,712  and  $332,977  for the  quarters  ended March 31, 2002 and 2001,
respectively.  The decrease in operating expenses during the quarter ended March
31,  2002,  as compared  to the quarter  ended  March 31,  2001,  was  partially
attributable  to a decrease  in state tax  expense  and a decrease  in the costs
incurred for  administrative  expenses for  servicing  the  Partnership  and its
Properties.  In addition, during the quarters ended March 31, 2002 and 2001, the
Partnership  incurred certain  expenses,  such as legal fees, real estate taxes,
insurance  and  maintenance  relating to the two  Properties  whose  leases were
rejected by their  respective  tenants and which  remain  vacant,  as  described
above. The Partnership will continue to incur these expenses,  relating to these
vacant  Properties until new tenants or purchasers are located.  The Partnership
is currently seeking replacement tenants or purchasers for these Properties.

         Effective  January  1,  2002,  the  Partnership  adopted  Statement  of
Financial  Accounting  Standards  No.  144  "Accounting  for the  Impairment  or
Disposal of Long-Lived  Assets." This statement requires that a long-lived asset
be tested  for  recoverability  whenever  events  or  changes  in  circumstances
indicate that its carrying amount may not be recoverable. The carrying amount of
a long-lived  asset is not recoverable if it exceeds the sum of the undiscounted
cash flows  expected  to result  from the use and  eventual  disposition  of the
asset.  The assessment is based on the carrying  amount of the asset at the date
it is tested for  recoverability.  An  impairment  loss is  recognized  when the
carrying  amount of a long-lived  asset exceeds its fair value. If an impairment
is recognized,  the adjusted  carrying  amount of a long-lived  asset is its new
cost basis.  The  statement  also  requires  that the results of operations of a
component of an entity that either has been disposed of or is classified as held
for sale be reported as a  discontinued  operation if the disposal  activity was
initiated subsequent to the adoption of the Standard.


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         Not applicable.


<PAGE>


                           PART II. OTHER INFORMATION


Item 1.  Legal Proceedings.   Inapplicable.
         ------------------

Item 2.  Changes in Securities.       Inapplicable.
         --------------------------

Item 3.  Default 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)  Exhibits

               3.1      Affidavit and Certificate of Limited  Partnership of CNL
                        Income  Fund  XIV,  Ltd.  (Included  as  Exhibit  3.2 to
                        Registration  Statement No. 33-53672-01 on Form S-11 and
                        incorporated herein by reference.)

               4.1      Affidavit and Certificate of Limited  Partnership of CNL
                        Income  Fund  XIV,  Ltd.  (Included  as  Exhibit  3.2 to
                        Registration  Statement No. 33-53672-01 on Form S-11 and
                        incorporated herein by reference.)

               4.2      Amended and Restated Agreement of Limited Partnership of
                        CNL Income Fund XIV,  Ltd.  (Included  as Exhibit 4.2 to
                        Form  10-K  filed  with  the   Securities  and  Exchange
                        Commission  on April 13,  1994,  incorporated  herein by
                        reference.)

               10.1     Management  Agreement  between CNL Income Fund XIV, Ltd.
                        and CNL Investment  Company (Included as Exhibit 10.1 to
                        Form  10-K  filed  with  the   Securities  and  Exchange
                        Commission on April 13, 1994, and incorporated herein by
                        reference.)

               10.2     Assignment of Management  Agreement  from CNL Investment
                        Company to CNL Income Fund Advisors,  Inc.  (Included as
                        exhibit 10.2 to Form 10-K filed with the  Securities and
                        Exchange  Commission on March 30, 1995, and incorporated
                        herein by reference.)

               10.3     Assignment of Management  Agreement from CNL Income Fund
                        Advisors,  Inc. to CNL Fund Advisors,  Inc. (Included as
                        Exhibit 10.3 to Form 10-K filed with the  Securities and
                        Exchange  Commission on April 1, 1996, and  incorporated
                        herein by reference.)


<PAGE>



               10.4     Assignment  of  Management   Agreement   from  CNL  Fund
                        Advisors,  Inc. to CNL APF  Partners,  LP.  (Included as
                        Exhibit 10.4 to Form 10-Q filed with the  Securities and
                        Exchange Commission on August 13, 2001, and incorporated
                        herein by reference.)

               (b)      Reports on Form 8-K

                        No  reports on Form 8-K were  filed  during the  quarter
                        ended March 31, 2002.



<PAGE>



                                   SIGNATURES


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

         DATED this 8th day of May, 2002.


                                            CNL INCOME FUND XIV, LTD.

                                            By:CNL REALTY CORPORATION
                                               General Partner


                                               By:/s/ James M. Seneff, Jr.
                                                  --------------------------
                                                  JAMES M. SENEFF, JR.
                                                  Chief Executive Officer
                                                  (Principal Executive Officer)


                                               By:/s/ Robert A. Bourne
                                                  --------------------------
                                                  ROBERT A. BOURNE
                                                  President and Treasurer
                                                  (Principal Financial and
                                                  Accounting Officer)