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, 2000
   --------------------------------------------------------------------------

                                       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                                         32801-3336
-----------------------------------------        -----------------------------
(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               5-8

   Item 2.    Management's Discussion and Analysis of Financial
                  Condition and Results of Operations                   9-13

   Item 3.   Quantitative and Qualitative Disclosures About
                  Market Risk                                           13

Part II

   Other Information                                                    14-15















<PAGE>


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

<TABLE>
<CAPTION>

                                                                      September 30,           December 31,
                                                                           2000                   1999
                                                                    -------------------    -------------------
<S> <C>
                               ASSETS

   Land and buildings on operating leases, less
       accumulated depreciation and allowance
       for loss on building                                               $ 22,679,133           $ 24,579,081
   Net investment in direct financing leases                                 6,694,055              6,779,642
   Investment in joint ventures                                              5,003,868              4,502,838
   Cash and cash equivalents                                                 2,762,102              1,543,691
   Restricted cash                                                                  --                383,368
   Receivables, less allowance for doubtful accounts
       of $69,004 and $6,703, respectively                                      72,760                 86,811
   Due from related parties                                                         --                  5,040
   Prepaid expenses                                                             29,507                 17,393
   Lease costs, less accumulated amortization of
       $6,023 and $3,548, respectively                                          26,977                 29,452
   Accrued rental income, less allowance for doubtful
       accounts of $12,622 in 2000 and 1999                                  2,144,875              2,145,581
                                                                    -------------------    -------------------

                                                                          $ 39,413,277           $ 40,072,897
                                                                    ===================    ===================

                  LIABILITIES AND PARTNERS' CAPITAL

   Accounts payable                                                       $     75,838           $    137,749
   Accrued and escrowed real estate taxes payable                                8,393                 28,520
   Distributions payable                                                       928,130                928,130
   Due to related parties                                                      124,686                 76,976
   Rents paid in advance and deposits                                           31,925                 67,196
                                                                    -------------------    -------------------
       Total liabilities                                                     1,168,972              1,238,571

   Partners' capital                                                        38,244,305             38,834,326
                                                                    -------------------    -------------------

                                                                          $ 39,413,277           $ 40,072,897
                                                                    ===================    ===================


           See accompanying notes to condensed financial statements.
<PAGE>


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


                                                                Quarter Ended                    Nine Months Ended
                                                                September 30,                      September 30,
                                                           2000              1999              2000              1999
                                                        ------------     -------------     --------------    --------------
Revenues:
    Rental income from operating leases                   $ 699,208         $ 723,070        $ 2,231,356       $ 2,148,545
    Earned income from direct financing leases              155,274           210,132            514,189           631,639
    Contingent rental income                                  1,637             3,078              3,055            14,918
    Interest and other income                                25,089            14,269             90,998            31,749
                                                        ------------     -------------     --------------    --------------
                                                            881,208           950,549          2,839,598         2,826,851
                                                        ------------     -------------     --------------    --------------

Expenses:
    General operating and administrative                     52,997            41,897            152,799           123,080
    Professional services                                    13,260             9,611             37,045            27,187
    Management fees to related party                          9,463             9,958             29,916            29,430
    Real estate taxes                                            --             1,979              2,021             7,310
    State and other taxes                                        --                --             32,170            30,688
    Loss on termination of direct financing lease                --            20,119                 --            20,119
    Depreciation and amortization                            96,564            94,168            291,335           292,440
    Transaction costs                                            --            62,965             77,526           181,178
                                                        ------------     -------------     --------------    --------------
                                                            172,284           240,697            622,812           711,432
                                                        ------------     -------------     --------------    --------------

Income Before Equity in Earnings of Joint
    Ventures, Loss on Sale of Land and Buildings
    and Provision for Loss on Building                      708,924           709,852          2,216,786         2,115,419

Equity in Earnings of Joint Ventures                         85,702            95,979            147,186           284,801

Loss on Sale of Land and Buildings                          (75,930 )              --            (75,930 )         (60,882 )

Provision for Loss on Building                              (83,815 )              --            (93,673 )        (121,207 )
                                                        ------------     -------------     --------------    --------------

Net Income                                                $ 634,881         $ 805,831        $ 2,194,369       $ 2,218,131
                                                        ============     =============     ==============    ==============

Allocation of Net Income:
    General partners                                       $  7,094          $  8,058          $  22,738         $  23,221
    Limited partners                                        627,787           797,773          2,171,631         2,194,910
                                                        ------------     -------------     --------------    --------------

                                                          $ 634,881         $ 805,831        $ 2,194,369       $ 2,218,131
                                                        ============     =============     ==============    ==============

Net Income Per Limited Partner Unit                        $   0.14          $   0.18          $    0.48         $    0.49
                                                        ============     =============     ==============    ==============

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

           See accompanying notes to condensed financial statements.
<PAGE>


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


                                                      Nine Months Ended                 Year Ended
                                                        September 30,                  December 31,
                                                            2000                           1999
                                                  --------------------------      -----------------------

General partners:
    Beginning balance                                          $    209,255                  $   177,733
    Net income                                                       22,738                       31,522
                                                  --------------------------      -----------------------
                                                                    231,993                      209,255
                                                  --------------------------      -----------------------

Limited partners:
    Beginning balance                                            38,625,071                   39,297,991
    Net income                                                    2,171,631                    3,039,600
    Distributions ($0.62 and $0.83 per
       limited partner unit, respectively)                       (2,784,390 )                 (3,712,520 )
                                                  --------------------------      -----------------------
                                                                 38,012,312                   38,625,071
                                                  --------------------------      -----------------------

Total partners' capital                                       $  38,244,305                 $ 38,834,326
                                                  ==========================      =======================



           See accompanying notes to condensed financial statements.
<PAGE>


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


                                                                        Nine Months Ended
                                                                          September 30,
                                                                     2000                 1999
                                                               -----------------     ---------------

Increase (Decrease ) in Cash and Cash Equivalents

    Net Cash Provided by Operating Activities                       $ 2,714,425          $2,648,649
                                                               -----------------     ---------------

    Cash Flows from Investing Activities:
       Proceeds from sale of land and buildings                       1,631,947             696,300
       Investment in joint ventures                                    (727,667 )           (44,120 )
       Decrease in restricted cash                                      384,096                  --
       Payment of lease costs                                                --             (33,000 )
                                                               -----------------     ---------------
          Net cash provided by investing activities                   1,288,376             619,180
                                                               -----------------     ---------------

    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 in Cash and Cash Equivalents                             1,218,411             483,439

Cash and Cash Equivalents at Beginning of Period                      1,543,691             949,056
                                                               -----------------     ---------------

Cash and Cash Equivalents at End of Period                          $ 2,762,102          $1,432,495
                                                               =================     ===============

Supplemental Schedule of Non-Cash Financing
    Activities:

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

           See accompanying notes to condensed financial statements.

</TABLE>

<PAGE>



                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2000 and 1999


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,  2000,  may not be
         indicative  of the  results  that may be  expected  for the year ending
         December  31, 2000.  Amounts as of December  31, 1999,  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, 1999.

         Certain  items in the  prior  year's  financial  statements  have  been
         reclassified to conform to 2000 presentation.  These  reclassifications
         had no effect on partners' capital or net income.

2.       Land and Building on Operating Leases:

         Land and buildings on operating leases consisted of the following at:
<TABLE>
<CAPTION>

                                                  September 30,              December 31,
                                                      2000                       1999
                                               --------------------       -------------------
<S> <C>
                  Land                                $ 14,591,413              $ 15,289,459
                  Buildings                             10,300,124                11,319,706
                                               --------------------       -------------------
                                                        24,891,537                26,609,165
                  Less accumulated
                      depreciation                      (2,091,520 )              (2,002,873 )
                                               --------------------       -------------------
                                                        22,800,017                24,606,292
                  Less allowance for
                      loss on building                    (120,884 )                 (27,211 )
                                               --------------------       -------------------

                                                      $ 22,679,133              $ 24,579,081
                                               ====================       ===================


</TABLE>

<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2000 and 1999


2.       Land and Building on Operating Leases - Continued:

         At December 31, 1999, the Partnership  recorded a provision for loss on
         building  in the amount of $27,211  for  financial  reporting  purposes
         relating to the Long John Silver's property in Laurens, South Carolina.
         The tenant of this property filed for bankruptcy and  discontinued  the
         payment of rents.  During the nine months ended September 30, 2000, the
         Partnership  increased  the  provision for loss on building by $93,673.
         The total  allowance  represented  the difference  between the carrying
         value of the  property  at  September  30, 2000 and the  estimated  net
         realizable value of the property.

         In September 2000, the Partnership sold and received net sales proceeds
         for its property in Columbus, Ohio for $1,631,946,  resulting in a loss
         of $75,930 for financial reporting purposes.

3.       Investment in Joint Ventures:

         In January  2000,  the  Partnership  used the majority of the net sales
         proceeds  it  received  from the 1999 sale of a  property  in  Houston,
         Texas,  to acquire an interest in a Baker's  Square  property in Niles,
         Illinois,  with CNL Income Fund VI, Ltd., a Florida limited partnership
         and an  affiliate of the general  partners,  as  tenants-in-common.  In
         connection therewith, the Partnership and the affiliate entered into an
         agreement whereby each co-venturer will share in the profits and losses
         of the property in proportion to its  applicable  percentage  interest.
         The Partnership  accounts for its investment in this property using the
         equity method since the  Partnership  shares control with an affiliate.
         As of September 30, 2000, the Partnership  owned a 26 percent  interest
         in this property.

         As of September 30, 2000, the lease  associated with the property owned
         by  Melbourne  Joint  Venture  had been  amended  to  provide  for rent
         reductions due to financial  difficulties the tenant was  experiencing.
         As a result,  Melbourne Joint Venture reclassified the building portion
         of the asset from net investment in direct  financing lease to land and
         building on  operating  leases.  In  accordance  with the  Statement of
         Financial  Accounting Standards #13, "Accounting for Leases," Melbourne
         Joint Venture recorded the reclassified  asset at the lower of original
         cost,  present fair value, or present carrying  amount.  No loss on the
         reclassification  of  the  direct  financing  lease  was  recorded  for
         financial reporting purposes.

         As of September 30, 2000, the joint venture,  in which the  Partnership
         has a 50 percent  interest,  recorded a provision  for loss on building
         totaling approximately $219,100 for financial reporting purposes due to
         the fact that the  operator of its  property  vacated the  property and
         discontinued  operations.  The  allowance  represented  the  difference
         between the property's net carrying value at September 30, 2000 and the
         estimated net realizable value of the property.


<PAGE>


                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2000 and 1999


3.       Investment in Joint Ventures - Continued:

         The following presents the combined,  condensed  financial  information
         for the joint ventures and the property held as tenants-in-common  with
         an affiliate at:
<TABLE>
<CAPTION>

                                                                           September 30,         December 31, 1999
                                                                                2000
                                                                         -------------------     -------------------
<S> <C>

           Land and buildings on operating leases, less accumulated
               depreciation and allowance for loss on building              $ 11,325,662           $ 8,588,997
           Net investment in direct financing leases                             352,864               990,480
           Cash                                                                  231,517                31,188
           Receivables                                                             2,579               118,630
           Accrued rental income                                                 356,778               309,013
           Other assets                                                           19,146                20,817
           Liabilities                                                           524,278                82,684
           Partners' capital                                                  11,764,268             9,976,441
           Revenues                                                              809,104               895,295
           Provision for loss on building                                       (219,053)                   --
           Net income                                                            387,284               739,271
</TABLE>

         The  Partnership  recognized  income  totalling  $147,186  and $284,801
         during the nine months ended September 30, 2000 and 1999, respectively,
         and $85,702 and $95,979  during the quarters  ended  September 30, 2000
         and 1999, respectively.

4.       Related Party Transactions:

         During the nine  months  ended  September  30,  2000,  the  Partnership
         acquired a 26 percent  interest  in a  property  from CNL BB Corp.,  an
         affiliate of the general  partners,  for which the property had a total
         purchase  price of  $1,223,500.  The property  acquired  during 2000 is
         being held as  tenants-in-common,  with CNL Income Fund VI, Ltd.  ("CNL
         VI"),  a Florida  limited  partnership,  an  affiliate  of the  general
         partners (see Note 3). CNL BB Corp. had purchased and temporarily  held
         title to this property in order to facilitate  the  acquisition  of the
         property by the Partnership and CNL VI as tenants-in-common.  The total
         purchase price paid by the Partnership and CNL VI represented the costs
         incurred by CNL BB Corp. to acquire and carry the  property,  including
         closing  costs.  In  accordance  with the  Statement  of Policy of Real
         Estate programs for the North American Securities

<PAGE>



                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
           Quarters and Nine Months Ended September 30, 2000 and 1999


4.       Related Party Transactions - Continued:

         Administrators  Association,  Inc., all income,  expenses,  profits and
         losses  generated  by or  associated  with the  property,  or interests
         therein,  purchased  from an affiliate in which the affiliate has acted
         as an interim owner,  are treated as belonging to the  Partnership  and
         CNL VI, as  tenants-in-common.  For the nine months ended September 30,
         2000, other income includes $2,103 of such amounts.

5.       Termination of Merger:

         On March 1, 2000,  the general  partners  and CNL  American  Properties
         Fund, Inc.  ("APF") mutually agreed to terminate the Agreement and Plan
         of  Merger  entered  into in  March  1999.  The  general  partners  are
         continuing  to evaluate  strategic  alternatives  for the  Partnership,
         including alternatives to provide liquidity to the limited partners.

6.       Subsequent Event:

         In November 2000, the Partnership  acquired a Golden Corral property in
         Bristol,  Virginia.  In connection  therewith,  the Partnership entered
         into a long-term, triple-net lease with terms substantially the same as
         its other leases.



<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, 2000,
the Partnership owned 55 Properties,  which included  interests in 12 Properties
owned by joint  ventures  in which  the  Partnership  is a  co-venturer  and one
Property owned with an affiliate as tenants-in-common.

Capital Resources

         The  Partnership's  primary source of capital for the nine months ended
September  30,  2000 and 1999 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
$2,714,425 and $2,648,649 for the nine months ended September 30, 2000 and 1999,
respectively.  The  increase in cash from  operations  for the nine months ended
September 30, 2000, as compared to the nine months ended September 30, 1999, was
primarily a result of changes in the Partnership's working capital.

         Other  sources and uses of capital  included the  following  during the
nine months ended September 30, 2000.

         In January 2000,  the  Partnership  reinvested  the majority of the net
sales proceeds from the 1999 sale of a Property in Houston,  Texas in a Property
in Niles,  Illinois,  as  tenants-in-common  with CNL Income Fund VI, Ltd. ("CNL
VI"),  an  affiliate  of the general  partners.  In  connection  therewith,  the
Partnership and the affiliate entered into an agreement whereby each co-venturer
will  share in the  profits  and losses of the  Property  in  proportion  to its
applicable  percentage  interest.  The  Partnership  and  CNL VI  acquired  this
Property from CNL BB Corp., an affiliate of the general partners.  The affiliate
had purchased and temporarily  held title to the Property in order to facilitate
the  acquisition  of the  Property by the  Partnership  and CNL VI. The purchase
price paid by the Partnership represented the costs incurred by the affiliate to
acquire the Property,  including  closing costs. The  transaction,  or a portion
thereof,  relating  to the  sale of the  Property  in  Houston,  Texas,  and the
reinvestment  of the net sales proceeds in the Property in Niles,  Illinois,  as
tenants-in-common, was structured to qualify as a like-kind exchange transaction
for federal income tax purposes. As of September 30, 2000, the Partnership owned
a 26 percent interest in the Property in Niles, Illinois.

         In September 2000, the Partnership sold and received net sales proceeds
for its  Property  in  Columbus,  Ohio for  $1,631,946,  resulting  in a loss of
$75,930 for financial  reporting  purposes.  In November 2000,  the  Partnership
reinvested  the net sales  proceeds  in a Golden  Corral  Property  in  Bristol,
Virginia.  In connection  therewith,  the Partnership  entered into a long-term,
triple-net lease with terms substantially the same as its other leases.

         Currently,  rental  income from the  Partnership's  Properties  and net
sales proceeds from the sale of Properties,  pending  reinvestment in additional
Properties,  are 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 30-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, 2000, the Partnership
had  $2,762,102  invested  in  such  short-term  investments,   as  compared  to
$1,543,691 at December 31, 1999. The funds remaining at September 30, 2000 after
payment  of  distributions  and  other  liabilities  will be  used  to meet  the
Partnership's working capital and other needs.

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.

         Total liabilities of the Partnership,  including distributions payable,
decreased to $1,168,972 at September 30, 2000,  from  $1,238,571 at December 31,
1999.  The  decrease  in  liabilities  was a result of a  decrease  in  accounts
payable,  accrued  and  escrowed  real  estate  taxes  payable and rents paid in
advance and  deposits at September  30, 2000,  as compared to December 31, 1999.
The  decrease  was  partially  offset by an  increase  in amounts due to related
parties at  September  30, 2000,  as compared to December 31, 1999.  The general
partners believe the Partnership has sufficient cash on hand to meet its current
working capital needs.

         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,  the Partnership
declared  distributions  to the limited  partners of $2,784,390  for each of the
nine months ended September 30, 2000 and 1999 ($928,130 for each of the quarters
ended  September  30, 2000 and 1999).  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, 2000 and 1999. No amounts distributed to the
limited  partners  for the nine  months  ended  September  30, 2000 and 1999 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.

Long Term Liquidity

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


<PAGE>


Results of Operations

         During the nine months ended September 30, 1999, the Partnership  owned
and leased 47 wholly owned  Properties  (which  included one Property  which was
sold during  1999) and during the nine months  ended  September  30,  2000,  the
Partnership  owned and leased 43 wholly  owned  Properties  (which  included one
Property  which was sold during 2000) to operators of fast food and family style
restaurant  chains.  In  connection  therewith,  during  the nine  months  ended
September 30, 2000 and 1999, the Partnership  earned  $2,745,545 and $2,780,184,
respectively,  in rental  income from  operating  leases and earned  income from
direct  financing leases from these  Properties,  $854,482 and $933,202 of which
was earned during the quarter ended  September 30, 2000 and 1999,  respectively.
The  decrease  in rental and earned  income  during the  quarter and nine months
ended  September  30, 2000,  as compared to September  30, 1999,  was  partially
attributable to a decrease in rental and earned income of approximately  $19,500
and  $52,300,  during the quarter  and nine months  ended  September  30,  2000,
respectively,  due to the fact that the Partnership  sold two Properties  during
1999. The proceeds from these sales were subsequently reinvested in Duluth Joint
Venture in December 1999 and in a Property held as  tenants-in-common in January
2000, as described above in "Capital Resources."

         Rental and earned income decreased by approximately $44,200 and $58,600
during the quarter and nine months ended September 30, 2000,  respectively,  due
to the fact that during the quarter and nine months  ended  September  30, 2000,
the  Partnership  established  an allowance  for doubtful  accounts for past due
rental  amounts  relating  to its  Properties  in Tempe,  Arizona and Las Vegas,
Nevada,  in  accordance  with  Partnership  policy.  The general  partners  will
continue  to pursue  collection  of past due rental  amounts  relating  to these
Properties and will recognize such amounts as income if collected.

         Rental and earned  income also  decreased by  approximately  $2,500 and
$14,900   during  the  quarter  and  nine  months  ended   September  30,  2000,
respectively, due to the fact that the Partnership amended the lease relating to
the Property in Houston,  Texas,  to provide for rent  reductions to the tenant.
The  Partnership  does not  anticipate  that the rent  reductions  will  have an
adverse material effect on the financial position of the Partnership.

         The decrease in rental and earned  income  during the nine months ended
September  30,  2000 was  partially  offset by an  increase in rental and earned
income due to the fact that during the nine months ended September 30, 2000, the
Partnership  collected and recognized as income  approximately  $100,900 in past
due  rental  amounts  relating  to Long John  Silver's,  Inc.,  which  filed for
bankruptcy  during 1998 and rejected the leases relating to five Properties.  As
of September 30, 2000, the Partnership had entered into new leases,  each with a
new tenant,  for two of the five Properties,  had sold two of the Properties and
had one Property that remained  vacant.  In August 1999, Long John Silver's Inc.
assumed  and  affirmed  its  four  remaining  leases,  and the  Partnership  has
continued   receiving  rental  payments  relating  to  these  four  leases.  The
Partnership  will not recognize any rental and earned income from this remaining
vacant Property until a replacement tenant is located,  or until the Property is
sold and the proceeds from the sale are reinvested in an additional Property.

         In addition,  during the nine months ended September 30, 2000 and 1999,
the Partnership earned $90,998 and $31,749,  respectively, in interest and other
income,  $25,089  and  $14,269 of which was earned  during  the  quarters  ended
September 30, 2000 and 1999, respectively. Interest and other income were higher
during the  quarter and nine months  ended  September  30, 2000 than that earned
during the quarter and nine months ended  September  30, 1999,  primarily due to
the fact that during the quarter and nine months ended  September 30, 2000,  the
Partnership  earned  interest on the net sales proceeds  relating to the sale of
several Properties during 1999, pending  reinvestment in additional  Properties.
As of September  30, 2000,  these net sales  proceeds  had been  reinvested,  as
described above.

         During the nine months ended September 30, 1999, the Partnership  owned
and leased ten Properties indirectly through joint venture arrangements.  During
the nine months ended September 30, 2000, the  Partnership  owned two additional
Properties  indirectly through joint venture agreements and one Property with an
affiliate as tenants-in-common.  In connection therewith, during the nine months
ended September 30, 2000 and 1999, the Partnership earned $147,186 and $284,801,
respectively, $85,702 and $95,979 of which were earned during the quarters ended
September 30, 2000 and 1999, respectively.  The decrease in net income earned by
joint ventures  during the quarter and nine months ended  September 30, 2000, as
compared to the quarter and nine months ended  September 30, 1999, was primarily
due to the fact that the lease relating to the Property held by Melbourne  Joint
Venture,  in which the Partnership  owns a 50 percent  interest,  was amended to
provide  for rent  reductions  starting  in  February  2000.  In June 2000,  the
operator of this Property vacated the Property and discontinued operations. As a
result,  during the nine months  ended  September  30, 2000,  the joint  venture
established an allowance for doubtful accounts for past due rental amounts.  The
joint venture will continue to pursue  collection of past due rental amounts and
will recognize  such amounts as income if collected.  The joint venture will not
recognize any rental income  relating to this Property  until such time as a new
lease is executed or until the Property is sold and the proceeds  from such sale
are reinvested in an additional Property. The joint venture is currently seeking
a new tenant or purchaser  for this  Property.  In addition,  the joint  venture
established an allowance for loss on building for this Property of approximately
$219,100.  The allowance  represented the difference  between the Property's net
carrying value at September 30, 2000,  and the current  estimated net realizable
value of the Property.  The decrease in net income earned by joint  ventures was
partially  offset by an increase in net income  earned by joint  ventures due to
the Partnership investing in two joint venture arrangements and one Property, as
tenants-in-common subsequent to September 30, 1999, as described above.

         Operating expenses,  including  depreciation and amortization  expense,
were $622,812 and $711,432  during the nine months ended  September 30, 2000 and
1999,  respectively,  of which  $172,284 and $240,697 were  incurred  during the
quarters  ended  September  30,  2000 and 1999,  respectively.  The  decrease in
operating  expenses during the quarter and nine months ended September 30, 2000,
as  compared  to the  quarter and nine months  ended  September  30,  1999,  was
primarily   attributable  to  the  fact  that  the  Partnership   incurred  less
transaction costs related to the general partners retaining  financial and legal
advisors to assist them in evaluating and  negotiating  the proposed merger with
CNL  American  Properties  Fund,  Inc.  ("APF")  due to the  termination  of the
proposed  merger,  as  described  below in  "Termination  of Merger".  Operating
expenses were also lower during the quarter and nine months ended  September 30,
2000 due to the fact that during the quarter and nine months ended September 30,
1999, as a result of Long John Silver's, Inc. rejecting a lease during 1999, the
Partnership  reclassified  the asset  from net  investment  in direct  financing
leases to land and buildings on operating leases. In conjunction therewith,  the
Partnership  recorded a loss on termination of direct financing lease of $20,119
during the quarter and nine months ended  September  30, 1999.  No such loss was
recorded  during the quarter and nine  months  ended  September  30,  2000.  The
decrease  in  operating  expenses  during  the  quarter  and nine  months  ended
September  30,  2000,  was  partially  offset by an increase  in  administrative
expenses for servicing the Partnership and its Properties.

         As a result of the sale of the Property in Columbus,  Ohio as described
above in "Capital  Resources," the Partnership  recognized a loss of $75,930 for
financial  reporting purposes during the quarter and nine months ended September
30, 2000.

         During the nine months ended  September 30, 2000, the  Partnership  had
previously  recorded a provision  for loss on  building of $9,858 for  financial
reporting purposes relating to the Long John Silver's Property in Laurens, South
Carolina, the lease for which was rejected by the tenant. During the quarter and
nine months ended  September 30, 2000,  the  Partnership  recorded an additional
provision  for loss on  building  of $83,815 for  financial  reporting  purposes
relating to this Property.  The allowance represented the difference between the
carrying  value of the  Property at  September  30, 2000 and the  estimated  net
realizable  value of the  Property.  In  addition,  during the nine months ended
September 30, 1999, the Partnership recorded a provision for loss on building of
$121,207  for  financial  reporting  purposes  relating to a Long John  Silver's
Property  in Shelby,  North  Carolina,  the lease for which was  rejected by the
tenant.  The allowance  represented the difference between the carrying value of
the Property at September  30, 1999 and the  estimated  realizable  value of the
Property.  The tenant of these Properties  filed for bankruptcy  during 1998 and
discontinued payment of rents under the terms of its lease agreements.

Termination of Merger

         On March 1, 2000,  the  general  partners  and APF  mutually  agreed to
terminate  the  Agreement  and Plan of Merger  entered  into in March 1999.  The
general  partners are  continuing  to evaluate  strategic  alternatives  for the
Partnership,   including  alternatives  to  provide  liquidity  to  the  limited
partners.


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.)

                    27        Financial Data schedule (Filed herewith.)

              (b)   Reports on Form 8-K

                    No reports on Form 8-K were filed  during the quarter  ended
                    September 30, 2000.



<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 9thday of November, 2000


                                   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)