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 September 30, 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 Financial
                  Condition and Results of Operations                  8-11

   Item 3.   Quantitative and Qualitative Disclosures About
                  Market Risk                                          11

   Item 4.           Controls and Procedures                           11

Part II

   Other Information                                                   12-13


<page>

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


                                                                             September 30,           December 31,
                                                                                  2002                   2001
                                                                           -------------------    -------------------

 <c>
                               ASSETS

   Land and buildings on operating leases, net                                  $  22,855,895          $  22,152,733
   Net investment in direct financing leases                                        5,869,116              6,315,829
   Real estate held for sale                                                          323,175              1,671,833
   Investment in joint ventures                                                     4,566,435              4,639,435
   Cash and cash equivalents                                                          866,003              1,039,216
   Restricted cash                                                                  1,303,859                     --
   Receivables, less allowance for doubtful accounts
       of $77,256 in 2001                                                                 803                 80,044
   Due from related parties                                                                --                  7,045
   Accrued rental income, less allowance for doubtful
       accounts of $48,635 in 2002 and 2001                                         2,433,719              2,300,040
   Other assets                                                                        58,717                 47,734
                                                                           -------------------    -------------------

                                                                                $  38,277,722          $  38,253,909
                                                                           ===================    ===================

                  LIABILITIES AND PARTNERS' CAPITAL

   Accounts payable                                                               $     6,535           $     21,657
   Real estate taxes payable                                                           17,593                 28,596
   Distributions payable                                                              928,130                928,130
   Due to related parties                                                              34,439                 14,154
   Rents paid in advance and deposits                                                   5,000                104,907
   Deferred rental income                                                              24,372                 51,443
                                                                           -------------------    -------------------
       Total liabilities                                                            1,016,069              1,148,887

   Commitment (Note 8)

   Partners' capital                                                               37,261,653             37,105,022
                                                                           -------------------    -------------------

                                                                                $  38,277,722          $  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                  Nine Months Ended
                                                                September 30,                    September 30,
                                                            2002             2001            2002             2001
                                                       ---------------   --------------  -------------   ---------------

 <c>
Revenues:
    Rental income from operating leases                    $  753,291       $  639,242     $2,093,656      $  1,943,147
    Earned income from direct financing leases                 80,406          159,186        418,038           518,743
    Contingent rental income                                   14,072            4,049         30,320            17,422
    Interest and other income                                     745           24,422          7,751            46,193
                                                       ---------------   --------------  -------------   ---------------
                                                              848,514          826,899      2,549,765         2,525,505
                                                       ---------------   --------------  -------------   ---------------

Expenses:
    General operating and administrative                       71,320           42,550        235,192           286,219
    Property expenses                                          11,458           35,528         50,989            83,119
    Management fees to related party                           10,108            9,424         29,315            28,762
    State and other taxes                                          --               --         36,917            65,579
    Depreciation and amortization                              92,621           64,746        274,669           259,198
    Provision for write-down of assets                             --               --             --           526,947
                                                       ---------------   --------------  -------------   ---------------
                                                              185,507          152,248        627,082         1,249,824
                                                       ---------------   --------------  -------------   ---------------

Income Before Gain on Sale of Assets and Equity
    in Earnings of Joint Ventures                             663,007          674,651      1,922,683         1,275,681

Gain on Sale of Assets                                             --               --        497,689                --

Equity in Earnings of Joint Ventures                          118,922          116,294        285,866           382,863
                                                       ---------------   --------------  -------------   ---------------

Income from Continuing Operations                             781,929          790,945      2,706,238         1,658,544
                                                       ---------------   --------------  -------------   ---------------

Discontinued Operations (Note 4):
    Income (loss) from discontinued operations, net            37,209           14,546        105,939            96,202
    Gain (loss) on disposal of discontinued
       operations, net                                        252,289          (39,096 )      128,844           (39,096 )
                                                       ---------------   --------------  -------------   ---------------
                                                              289,498          (24,550 )      234,783            57,106
                                                       ---------------   --------------  -------------   ---------------

Net Income                                                $ 1,071,427       $  766,395     $2,941,021      $  1,715,650
                                                       ===============   ==============  =============   ===============

Net Income (Loss) Per Limited Partner Unit
    Continuing operations                                   $    0.18        $    0.18       $   0.60        $     0.37
    Discontinued operations                                      0.06            (0.01 )         0.05              0.01
                                                       ---------------   --------------  -------------   ---------------
                                                            $    0.24        $    0.17       $   0.65        $     0.38
                                                       ===============   ==============  =============   ===============

Weighted Average Number of Limited Partner
    Units Outstanding                                       4,500,000        4,500,000      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>

                                                                          Nine Months Ended          Year Ended
                                                                            September 30,           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                                                                      2,941,021             2,504,098
    Distributions ($0.62 and $0.83 per
       limited partner unit, respectively)                                         (2,784,390 )          (3,712,520 )
                                                                         ---------------------    ------------------
                                                                                   37,052,398            36,895,767
                                                                         ---------------------    ------------------

Total partners' capital                                                       $    37,261,653         $  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>


                                                                                          Nine Months Ended
                                                                                            September 30,
                                                                                     2002                  2001
                                                                                ----------------      ----------------

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

    Net Cash Provided by Operating Activities                                      $  2,594,015          $  2,501,516
                                                                                ----------------      ----------------

    Cash Flows from Investing Activities:
       Increase in restricted cash                                                   (1,304,826 )                  --
       Additions to land and building on operating leases                            (1,283,608 )                  --
       Proceeds from sale of assets                                                   2,605,596                    --
       Return of capital from joint venture                                                  --               400,000
                                                                                ----------------      ----------------

          Net cash provided by (used in)investing activities                             17,162               400,000
                                                                                ----------------      ----------------

    Cash Flows from Financing Activities:
       Distributions to limited partners                                             (2,784,390 )          (2,784,390 )
                                                                                ----------------      ----------------
          Net cash used in financing activities                                      (2,784,390 )          (2,784,390 )
                                                                                ----------------      ----------------

Net Increase (Decrease) in Cash and Cash Equivalents                                   (173,213 )             117,126

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

Cash and Cash Equivalents at End of Period                                          $   866,003          $  1,155,681
                                                                                ================      ================

Supplemental Schedule of Non-Cash Financing
    Activities:

       Distributions declared and unpaid at end of period                           $   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 and Nine Months Ended September 30, 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 and nine  months  ended  September  30,  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.

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. As of December 31, 2001, this property had been
         identified for sale. 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, an affiliate of the general partners (see
         Note 6).

4.       Discontinued Operations:

         During 2002, the Partnership entered into two separate agreements, each
         with an unrelated  third party,  to sell the Golden Corral  property in
         Greeley, Colorado and the Long John Silver's property in Laurens, South
         Carolina.  In August 2002,  the  Partnership  sold the  Laurens,  South
         Carolina  property for  $167,200  and  received  net sales  proceeds of
         approximately $155,200, resulting in a loss on disposal of discontinued
         operations  of  $123,445,  which the  Partnership  recorded  during the
         quarter  and six months  ended June 30,  2002.  During the nine  months
         ended  September  30, 2001,  the  Partnership  recorded a provision for
         write-down of assets of $39,096.  In September  2002,  the  Partnership
         sold the Greeley, Colorado property for
<page>

                           CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                    NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2002 and 2001


4.       Discontinued Operations - Continued

         $1,330,000 and received net sales proceeds of approximately $1,306,600,
         resulting  in a gain on sale of  discontinued  operations  of $278,650,
         which the Partnership recorded during the quarter and nine months ended
         September 30, 2002.  The  financial  results for these  properties  are
         reflected as  Discontinued  Operations  in the  accompanying  financial
         statements.

         In  addition,  in  September  2002,  the  Partnership  entered  into an
         agreement with an unrelated third party to sell the Checker's  property
         in Merriam,  Kansas (see notes 8 and 9). As a result,  the  Partnership
         reclassified the assets from land and buildings on operating leases and
         accrued  rental income to real estate held for sale.  The  reclassified
         assets  were  recorded  at the lower of their  carrying  amount or fair
         value,  less  cost  to  sell.  In  addition,  the  Partnership  stopped
         recording  accrued  rental income once the property was  identified for
         sale. In connection  with the  anticipated  sale of this property,  the
         Partnership  recorded a loss on disposal of discontinued  operations of
         $19,620 during the quarter and nine months ended September 30, 2002.

         The  operating  results of the  discontinued  operations  for the above
         properties are as follows:

<TABLE>
<CAPTION>

                                                Quarter Ended September 30,       Nine Months Ended September 30,
                                                   2002             2001               2002               2001
                                              ---------------   --------------   -----------------   ---------------

 <C>
          Rental revenues                         $   39,046       $   50,769        $    131,941        $  135,780
          Expenses                                    (1,837 )        (36,223 )           (26,002 )         (39,578 )
          Gain (loss) on disposal of assets          252,289          (39,096 )           128,844           (39,096 )
                                              ---------------   --------------   -----------------   ---------------
          Income (loss) from discontinued
                operations                        $  289,498       $  (24,550 )      $    234,783        $   57,106
                                              ===============   ==============   =================   ===============
</TABLE>

5.       Restricted Cash:

         As of September 30, 2002, the net sales proceeds of $1,304,826 from the
         sale of the property in Greeley,  Colorado,  less miscellaneous  escrow
         fees of $967 were  being  held in an  interest-bearing  escrow  account
         pending  the  release  of  funds by the  escrow  agent  to  acquire  an
         additional property.

6.       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 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.

<page>

                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2002 and 2001


7.       Concentration of Credit Risk - Continued:

         The following  schedule  presents total rental revenues from individual
         lessees,  each representing  more than 10% of the  Partnership's  total
         rental revenues  (including the Partnership's  share of rental revenues
         from joint ventures and the properties held as  tenants-in-common  with
         affiliates  of the  general  partners)  for each of the  periods  ended
         September 30:

                                                    2002            2001
                                               -------------   -------------

               Jack in the Box Inc.             $   407,071     $   408,288
               Checker's Drive-in Restaurants       405,352         405,546
               Golden Corral Corporation            357,932         375,430
               Flagstar Enterprise                  316,315         317,487
               Denny's, Inc.                        314,063             N/A

         In addition, the following schedule presents total rental revenues from
         individual  restaurant  chains,  each representing more than 10% of the
         Partnership's  total rental revenues (including the Partnership's share
         of rental  revenues  from joint  ventures  and the  properties  held as
         tenants-in-common  with affiliates of the general partners) for each of
         the periods ended September 30:

                                                       2002            2001
                                                  ------------     -----------

               Golden Corral Family Steakhouse
                    Restaurant                    $   537,800     $   541,111
               Denny's                                450,278         461,185
               Jack in the Box                        407,071         408,288
               Checker's                              405,352         405,546
               Hardee's                               316,315         317,487

         The  information   denoted  by  N/A  indicates  that  for  each  period
         presented,   the  chains  did  not  represent  more  than  10%  of  the
         Partnership's total rental and earned income.

         Although  the  Partnership's   properties  are  geographically  diverse
         throughout the United States and the  Partnership's  lessees  operate a
         variety of restaurant concepts,  default by any one of these lessees or
         restaurant chains will  significantly  impact the results of operations
         of the  Partnership  if the  Partnership  is not able to  re-lease  the
         properties in a timely manner.

8.       Commitment:

         During  2002,  the  Partnership  entered  into  an  agreement  with  an
         unrelated third party to sell the Checker's property in Merriam, Kansas
         (see Notes 4 and 9).

9.       Subsequent Event:

         On  November 7, 2002,  the  Partnership  sold its  property in Merriam,
         Kansas for $325,000 and  received net sales  proceeds of  approximately
         $323,200,  resulting in a loss on disposal of assets of $19,620,  which
         the Partnership recorded at September 30, 2002.

<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 September 30, 2001,
the  Partnership  owned 43  Properties  directly  and 12  Properties  indirectly
through  joint  venture or tenancy in common  arrangements.  As of September 30,
2002, the Partnership owned 41 Properties directly and 12 Properties  indirectly
through joint venture or tenancy in common arrangements.

Capital Resources

         Cash from  operating  activities  (which  includes  cash  received from
tenants,  distributions  from joint  ventures,  and  interest  and other  income
received,  less cash paid for expenses) was  $2,594,015  and  $2,501,516 for the
nine months ended  September  30, 2002 and 2001,  respectively.  The increase in
cash from operating  activities for the nine months ended September 30, 2002, as
compared  to the same period of 2001,  a result of changes in the  Partnership's
working capital and changes in income and expenses,  as described in "Results of
Operations."

         Other  sources and uses of capital  included the  following  during the
nine months ended September 30, 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.  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.

         During 2002, the Partnership entered into two separate agreements, each
with an unrelated  third party,  to sell the Golden Corral  Property in Greeley,
Colorado and the Long John  Silver's  Property in Laurens,  South  Carolina.  In
August 2002,  the  Partnership  sold the Laurens,  South  Carolina  Property for
$167,200 and received net sales proceeds of approximately $155,200, resulting in
a loss on disposal of discontinued operations of $123,445, which the Partnership
recorded  during the six months ended June 30,  2002.  In  September  2002,  the
Partnership sold the Greeley,  Colorado Property for $1,330,000 and received net
sales  proceeds  of  approximately  $1,306,600,  resulting  in a gain on sale of
discontinued  operations of $278,650,  which the Partnership recorded during the
quarter and nine months ended September 30, 2002. The Partnership anticipates it
will  reinvest  these  proceeds  in  additional   Properties.   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 these transactions.

         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 September  30, 2002,  the  Partnership  had
$866,003 invested in such short-term  investments,  as compared to $1,039,216 at
December 31, 2001. The funds remaining at September 30, 2002 will be used to pay
distributions and other liabilities of the Partnership.

Short Term Liquidity

         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  generate  net cash flow in
excess of operating expenses.

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

         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.

         Total liabilities of the Partnership,  including distributions payable,
were $1,016,069 at September 30, 2002, as compared to $1,148,887 at December 31,
2001.  The decrease in  liabilities at September 30, 2002 was primarily due to a
decrease in rents paid in advance and deferred  rental  income at September  30,
2002, as compared to December 31, 2001. Total liabilities at September 30, 2002,
to the extent they exceed cash and cash  equivalents at September 30, 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.

         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 current and  anticipated  future cash from operations and, a portion of
the 2001 return of capital  from  Wood-Ridge  Real  Estate  Joint  Venture,  the
Partnership  declared  distributions  to the limited  partners of $2,784,390 for
each of the nine months ended September 30, 2002 and 2001, ($928,130 for each of
the quarters ended September 30, 2002 and 2001.) This  represents  distributions
for each  applicable  nine  months  of $0.62 per unit  ($0.21  per unit for each
applicable  quarter.) No distributions were made to the general partners for the
quarters  and nine  months  ended  September  30,  2002  and  2001.  No  amounts
distributed to the limited partners for the nine months ended September 30, 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.

         During the nine  months  ended  September  30,  2002,  the  Partnership
entered into an agreement  with an unrelated  third party to sell the  Checker's
Property in Merriam,  Georgia.  As a result, the Partnership  reclassified these
assets to real estate held for sale. On November 7, 2002, the  Partnership  sold
its Property in Merriam,  Kansas for $325,000 and received net sales proceeds of
approximately  $323,200,  resulting  in a loss on disposal of assets of $19,620,
which the Partnership recorded at September 30, 2002. The Partnership intends to
reinvest these proceeds in an additional Property.

Long Term Liquidity

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

Results of Operations

         Total  rental  revenues  were  $2,511,694  for the  nine  months  ended
September 30, 2002,  as compared to  $2,461,890  for the same period of 2001, of
which  $833,697 and $798,428  were earned  during the third  quarter of 2002 and
2001, respectively.  The increase in rental revenues during the quarter and nine
months ended  September 30, 2002,  as compared to the same periods of 2001,  was
partially due to the fact that in March 2002,  the  Partnership  reinvested  the
sales proceeds from the sale of the Property in Las Vegas, Nevada, in a Property
in San Antonio,  Texas, as described above in "Capital Resources." The tenant of
the Las Vegas,  Nevada  Property  ceased  restaurant  operations and vacated the
Property in 2001.

         Revenues  remained  at reduced  amounts  during the  quarters  and nine
months ended  September  30, 2002 and 2001,  due to the fact that prior to 2001,
Elias  Brothers   Restaurants,   Inc.,   which  leased  one  Property  with  the
Partnership,  filed for  bankruptcy  and  rejected its lease.  As a result,  the
Partnership  stopped  recording  rental revenue  relating to this  Property.  In
October 2002, the  Partnership  entered into a new lease,  with a new tenant for
this Property.  The lease terms for this Property are  substantially the same as
the Partnership's other leases. In connection with the new lease, the new tenant
has  agreed  to pay for all costs  necessary  to  convert  the  Property  into a
different  restaurant  concept.  Conversion  of the  Property  is expected to be
completed  early in  2003,  at which  point  rental  payments  are  expected  to
commence.

         During  the  nine  months  ended  September  30,  2002  and  2001,  the
Partnership also earned $30,320 and $17,422,  respectively, in contingent rental
income,  of which  $14,072  and $4,049  were earned  during the  quarters  ended
September  30 2002 and 2001,  respectively.  The increase in  contingent  rental
income  was  primarily  a  result  of an  increase  in gross  sales  of  certain
restaurant  Properties  with leases  requiring the payment of contingent  rental
income.

         During  the  nine  months  ended  September  30,  2002  and  2001,  the
Partnership  earned  $285,866 and $382,863,  respectively,  attributable  to net
income  earned by joint  ventures,  of which  $118,922  and  $116,294 was earned
during  the  quarters  ended  September  30,  2002 and 2001,  respectively.  The
decrease in net income  earned by joint  ventures  during the nine months  ended
September 30, 2002, as compared to the same period of 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.  As a result,  Duluth  Joint  Venture  stopped
recording  rental  revenues  during the quarter ended March 31, 2002.  The joint
venture also  recorded a provision  for  write-down  of assets of  approximately
$65,800.  The  provision  represented  the  difference  between  the  Property's
carrying value and its fair value. During the second quarter of 2002, the tenant
began  making  rental  payments  to the  joint  venture  and the  joint  venture
recognized  these amounts as rental revenues.  In addition,  the decrease in net
income earned by joint ventures  during the nine months ended September 30, 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 for  $800,000.  This resulted in a loss to the joint venture of
approximately  $84,500. In addition, in connection with the sale of its Property
in Paris,  Texas,  Wood-Ridge  Real Estate Joint  Venture  received  $200,000 in
consideration  for the joint venture  releasing  the tenant from its  obligation
under the  lease.  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, and make quarterly distributions.

         During the nine months ended September 30, 2002,  five lessees,  Golden
Corral  Corporation,  Jack  in the Box  Inc.,  Checker's  Drive-in  Restaurants,
Flagstar Enterprise, and Denny's, Inc. each contributed more than ten percent of
the Partnership's  total rental revenues  (including the Partnership's  share of
rental  revenues from Properties  owned by joint ventures and  tenants-in-common
with  affiliates of the general  partners.) It is anticipated  that based on the
minimum rental payments required by the leases, these five lessees will continue
to contribute more than ten percent of the Partnership's  total rental revenues.
In addition,  during the nine months ended  September 30, 2002,  five restaurant
chains, Golden Corral Family Steakhouse  Restaurants,  Jack in the Box, Denny's,
Checker's,  and  Hardee's  each  accounted  for  more  than ten  percent  of the
Partnership's total rental revenues (including the Partnership's share of rental
revenues from  Properties  owned by joint  ventures and  tenants-in-common  with
affiliates  of  the  general  partners).  It  is  anticipated  that  these  five
restaurant chains will each continue to account for more than ten percent of the
total rental  revenues to which the  Partnership  is entitled under the terms of
the leases.  Any failure of these lessees or restaurant  chains could materially
affect the  Partnership's  income if the Partnership is not able to re-lease the
Properties in a timely manner.

         Operating expenses, including depreciation and amortization expense and
provision for  write-down of assets were  $627,082 and  $1,249,824  for the nine
months ended  September 30, 2002 and 2001,  respectively,  of which $185,507 and
$152,248 were incurred  during the quarters  ended  September 30, 2002 and 2001,
respectively.  Operating  expenses  were  higher  during the nine  months  ended
September  30, 2001,  as compared to the same  periods of 2002,  due to the fact
that during the nine months ended September 30, 2001, the  Partnership  recorded
provisions  for  write-down  of  assets  of  $526,947  relating  to  the  vacant
Properties  in  Akron,  Ohio  and Las  Vegas,  Nevada.  In  February  2002,  the
Partnership  sold the Property in Las Vegas,  Nevada,  as described  above.  The
decrease in operating  expenses during the nine months ended September 30, 2002,
as compared to the same period of 2001,  was also  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 and nine months ended September 30, 2002 and 2001,
the Partnership incurred certain Property related expenses,  such as legal fees,
real estate taxes,  insurance and maintenance relating to the Property in Akron,
Ohio,  whose lease was rejected by its tenant,  as described  above.  In October
2002, the Partnership re-leased this Property to a new tenant. The new tenant is
responsible for real estate taxes,  insurance,  and maintenance  relating to the
Property  in  accordance  with the terms of its leases;  therefore,  the general
partners do not  anticipate the  Partnership  will incur these expenses for this
Property in the future.

         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.

         During the nine  months  ended  September  30,  2002,  the  Partnership
identified  three  Properties  that met the  criteria of this  standard and were
classified as Discontinued  Operations in the accompanying financial statements.
Two of the Properties were sold during the nine months ended September 30, 2002,
one of which was  vacant.  The  Partnership  intends  to  reinvest  these  sales
proceeds in additional Properties.


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         Not applicable.


ITEM 4.  CONTROLS AND PROCEDURES

         The  general  partners  maintain  a  set  of  disclosure  controls  and
procedures  designed to ensure that information  required to be disclosed in the
Partnership's  filings  under the  Securities  Exchange Act of 1934 is recorded,
processed,  summarized  and reported  within the time  periods  specified in the
Securities and Exchange  Commission's  rules and forms. The principal  executive
and  financial  officers of the  corporate  general  partner have  evaluated the
Partnership's  disclosure  controls and  procedures  within 90 days prior to the
filing  of this  Quarterly  Report on Form  10-Q and have  determined  that such
disclosure controls and procedures are effective.

         Subsequent to the above evaluation,  there were no significant  changes
in internal  controls or other  factors  that could  significantly  affect these
controls,   including  any   corrective   actions  with  regard  to  significant
deficiencies and material weaknesses.

<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.)

                  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.)

                  10.5     Assignment  of  Management  Agreement  from  CNL  APF
                           Partners,   LP  to  CNL   Restaurants   XVIII,   Inc.
                           ((Included  as  Exhibit  10.3 to Form 10-Q filed with
                           the Securities and Exchange  Commission on August 13,
                           2002, and incorporated herein by reference.)

                  99.1     Certification of Chief Executive Officer of Corporate
                           General Partner Pursuant to 18 U.S.C. Section 1350 as
                           Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                           Act of 2002. (Filed herewith.)

                  99.2     Certification of Chief Financial Officer of Corporate
                           General Partner Pursuant to 18 U.S.C. Section 1350 as
                           Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                           Act of 2002. (Filed herewith.)

                  (b)      Reports on Form 8-K

                           No reports on Form 8-K were filed  during the quarter
                           ended September 30, 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 November, 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)


<page>





                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                          OF CORPORATE GENERAL PARTNER

                 PURSUANT TO RULE 13a-14 AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002


        I,  James M.  Seneff,  Jr.,  the Chief  Executive  Officer of CNL Realty
Corporation,  the  corporate  general  partner of CNL Income Fund XIV, Ltd. (the
"registrant"), certify that:

        1.  I  have  reviewed  this  quarterly   report  on  Form  10-Q  of  the
            registrant;

        2.  Based on my knowledge,  this  quarterly  report does not contain any
            untrue statement of a material fact or omit to state a material fact
            necessary to make the statements made, in light of the circumstances
            under which such  statements  were made, not misleading with respect
            to the period covered by this quarterly report;

        3.  Based on my knowledge, the financial statements, and other financial
            information included in this quarterly report, fairly present in all
            material respects the financial condition, results of operations and
            cash flows of the  registrant as of, and for, the periods  presented
            in this quarterly report;

        4.  The registrant's  other certifying officer and I are responsible for
            establishing and maintaining  disclosure controls and procedures (as
            defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant
            and we have:

                a. designed such  disclosure  controls and  procedures to ensure
                   that  material   information   relating  to  the  registrant,
                   including its consolidated subsidiaries,  is made known to us
                   by others  within  those  entities,  particularly  during the
                   period in which this quarterly report is being prepared;

                b. evaluated the  effectiveness of the  registrant's  disclosure
                   controls and  procedures as of a date within 90 days prior to
                   the filing date of this  quarterly  report  (the  "Evaluation
                   Date"); and

                c. presented in this quarterly report our conclusions  about the
                   effectiveness of the disclosure controls and procedures based
                   on our evaluation as of the Evaluation Date;

        5.  The  registrant's  other  certifying  officer and I have  disclosed,
            based on our most recent  evaluation,  to the registrant's  auditors
            and the audit  committee  of  registrant's  board of  directors  (or
            persons performing the equivalent function):

                a. all  significant  deficiencies  in the design or operation of
                   internal   controls   which   could   adversely   affect  the
                   registrant's ability to record, process, summarize and report
                   financial  data  and  have  identified  for the  registrant's
                   auditors any material weaknesses in internal controls; and

                b. any fraud, whether or not material,  that involves management
                   or  other  employees  who  have  a  significant  role  in the
                   registrant's internal controls; and

        6.  The registrant's  other  certifying  officer and I have indicated in
            this quarterly report whether or not there were significant  changes
            in internal  controls or in other  factors that could  significantly
            affect internal  controls  subsequent to the date of our most recent
            evaluation,   including  any  corrective   actions  with  regard  to
            significant deficiencies and material weaknesses.

Date:  November 8, 2002


/s/ James M. Seneff, Jr.
-------------------------
James M. Seneff, Jr.
Chief Executive Officer
<page>



                    CERTIFICATION OF CHIEF FINANCIAL OFFICER
                          OF CORPORATE GENERAL PARTNER

                 PURSUANT TO RULE 13a-14 AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

        I, Robert A. Bourne,  President and Treasurer of CNL Realty Corporation,
the corporate  general  partner of CNL Income Fund XIV, Ltd. (the  "registrant")
certify that:

        1.  I  have  reviewed  this  quarterly   report  on  Form  10-Q  of  the
            registrant;

        2.  Based on my knowledge,  this  quarterly  report does not contain any
            untrue statement of a material fact or omit to state a material fact
            necessary to make the statements made, in light of the circumstances
            under which such  statements  were made, not misleading with respect
            to the period covered by this quarterly report;

        3.  Based on my knowledge, the financial statements, and other financial
            information included in this quarterly report, fairly present in all
            material respects the financial condition, results of operations and
            cash flows of the  registrant as of, and for, the periods  presented
            in this quarterly report;

        4.  The registrant's  other certifying officer and I are responsible for
            establishing and maintaining  disclosure controls and procedures (as
            defined in Exchange Act Rules 13a-14 and 15d-14) for the  registrant
            and we have:

                a. designed such  disclosure  controls and  procedures to ensure
                   that  material   information   relating  to  the  registrant,
                   including its consolidated subsidiaries,  is made known to us
                   by others  within  those  entities,  particularly  during the
                   period in which this quarterly report is being prepared;

                b. evaluated the  effectiveness of the  registrant's  disclosure
                   controls and  procedures as of a date within 90 days prior to
                   the filing date of this  quarterly  report  (the  "Evaluation
                   Date"); and

                c. presented in this quarterly report our conclusions  about the
                   effectiveness of the disclosure controls and procedures based
                   on our evaluation as of the Evaluation Date;

        5.  The  registrant's  other  certifying  officer and I have  disclosed,
            based on our most recent  evaluation,  to the registrant's  auditors
            and the audit  committee  of  registrant's  board of  directors  (or
            persons performing the equivalent function):

                a. all  significant  deficiencies  in the design or operation of
                   internal   controls   which   could   adversely   affect  the
                   registrant's ability to record, process, summarize and report
                   financial  data  and  have  identified  for the  registrant's
                   auditors any material weaknesses in internal controls; and

                b. any fraud, whether or not material,  that involves management
                   or  other  employees  who  have  a  significant  role  in the
                   registrant's internal controls; and

        6.  The registrant's  other  certifying  officer and I have indicated in
            this quarterly report whether or not there were significant  changes
            in internal  controls or in other  factors that could  significantly
            affect internal  controls  subsequent to the date of our most recent
            evaluation,   including  any  corrective   actions  with  regard  to
            significant deficiencies and material weaknesses.


Date:  November 8, 2002


/s/ Robert A. Bourne
-------------------------
Robert A. Bourne
President and Treasurer
<page>

                                  EXHIBIT INDEX


Exhibit Number

        (c)   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.)

                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.)

                10.5     Assignment  of  Management   Agreement   from  CNL  APF
                         Partners,  LP to CNL Restaurants XVIII, Inc. ((Included
                         as Exhibit 10.3 to Form 10-Q filed with the  Securities
                         and  Exchange   Commission  on  August  13,  2002,  and
                         incorporated herein by reference.)

                99.1     Certification  of Chief Executive  Officer of Corporate
                         General Partner  Pursuant to 18 U.S.C.  Section 1350 as
                         Adopted  Pursuant to Section 906 of the  Sarbanes-Oxley
                         Act of 2002. (Filed herewith.)

                99.2     Certification  of Chief Financial  Officer of Corporate
                         General Partner  Pursuant to 18 U.S.C.  Section 1350 as
                         Adopted  Pursuant to Section 906 of the  Sarbanes-Oxley
                         Act of 2002. (Filed herewith.)
<page>




                                  EXHIBIT 99.1


<page>


                                  EXHIBIT 99.2