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 June 30, 2001
   --------------------------------------------------------------------------

                                       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 _________




                                    CONTENTS
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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                                   8-12

   Item 3.   Quantitative and Qualitative Disclosures About
                  Market Risk                                                           12

Part II

   Other Information                                                                    13-14

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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                            CONDENSED BALANCE SHEETS
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                                                                                June 30,             December 31,
                                                                                  2001                   2000
                                                                           -------------------    -------------------
                               ASSETS

   Land and buildings on operating leases, less
       accumulated depreciation and allowance for loss
       on assets                                                                 $ 24,018,962           $ 24,460,091
   Net investment in direct financing leases, less
       allowance for loss on assets                                                 6,389,428              6,663,943
   Investment in joint ventures                                                     4,616,075              5,055,505
   Cash and cash equivalents                                                        1,338,447              1,038,555
   Receivables, less allowance for doubtful accounts
       of $33,656 and $29,921, respectively                                            30,996                177,442
   Due from related parties                                                            19,410                 18,745
   Prepaid expenses                                                                    19,743                 30,081
   Lease costs, less accumulated amortization of
       $8,498 and $6,848, respectively                                                 24,502                 26,152
   Accrued rental income, less allowance for doubtful
       accounts of  $48,635, in 2001 and 2000.                                      2,222,711              2,162,073
                                                                           -------------------    -------------------

                                                                                 $ 38,680,274           $ 39,632,587
                                                                           ===================    ===================

                  LIABILITIES AND PARTNERS' CAPITAL

   Accounts payable                                                                $    3,459             $   75,746
   Accrued and escrowed real estate taxes payable                                      34,666                 28,426
   Distributions payable                                                              928,130                928,130
   Due to related parties                                                             113,540                130,423
   Rents paid in advance and deposits                                                 140,812                101,406
   Deferred rental income                                                              53,228                 55,012
                                                                           -------------------    -------------------
       Total liabilities                                                            1,273,835              1,319,143

   Partners' capital                                                               37,406,439             38,313,444
                                                                           -------------------    -------------------

                                                                                 $ 38,680,274           $ 39,632,587
                                                                           ===================    ===================
See accompanying notes to condensed financial statements.
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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                         CONDENSED STATEMENTS OF INCOME

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                                                                    Quarter Ended                  Six Months Ended
                                                                      June 30,                         June 30,
                                                                2001             2000            2001            2000
                                                            -------------    -------------   --------------  -------------
Revenues:
    Rental income from operating leases                        $ 685,910        $ 714,458      $ 1,385,452     $1,532,148
   Adjustments to accrued rental income                          (66,245 )             --          (66,245 )           --
    Earned income from direct financing leases                   178,978          183,152          359,557        358,915
    Contingent rental income                                      16,837            1,418           16,837          1,418
    Interest and other income                                     11,257           11,439           21,771         65,909
                                                            -------------    -------------   --------------  -------------
                                                                 826,737          910,467        1,717,372      1,958,390
                                                            -------------    -------------   --------------  -------------

Expenses:
    General operating and administrative                          87,208           55,688          225,164         99,802
    Professional services                                         32,518            9,819           53,564         23,785
    Management fees to related party                               8,767            9,378           19,338         20,453
    Real estate taxes                                              6,683            2,021           15,887          2,021
    State and other taxes                                          4,182               --           65,579         32,170
    Depreciation and amortization                                 97,242           97,334          194,452        194,771
    Transaction costs                                                 --           26,619               --         77,526
                                                            -------------    -------------   --------------  -------------
                                                                 236,600          200,859          573,984        450,528
                                                            -------------    -------------   --------------  -------------

Income Before Equity in Earnings (Losses) of Joint
    Ventures and Provision for Loss on Assets                    590,137          709,608        1,143,388      1,507,862

Equity in Earnings (Losses) of Joint Ventures                    175,560          (22,668 )        266,569         61,484

Provision for Loss on Assets                                    (460,702 )             --         (460,702 )       (9,858 )
                                                            -------------    -------------   --------------  -------------

Net Income                                                     $ 304,995        $ 686,940       $  949,255     $1,559,488
                                                            =============    =============   ==============  =============

Allocation of Net Income:
    General partners                                              $   --           $   --          $    --         $   --
    Limited partners                                             304,995          686,940          949,255      1,559,488
                                                            -------------    -------------   --------------  -------------

                                                               $ 304,995        $ 686,940       $  949,255     $1,559,488
                                                            =============    =============   ==============  =============

Net Income Per Limited Partner Unit                             $   0.07         $   0.15        $    0.21       $   0.35
                                                            =============    =============   ==============  =============

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.
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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                    CONDENSED STATEMENTS OF PARTNERS' CAPITAL
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                                                                          Six Months Ended           Year Ended
                                                                              June 30,              December 31,
                                                                                2001                    2000
                                                                       -----------------------    ------------------

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

Limited partners:
    Beginning balance                                                              38,104,189            38,625,071
    Net income                                                                        949,255             3,191,638
    Distributions ($0.41 and $0.83 per
       limited partner unit, respectively)                                         (1,856,260 )          (3,712,520 )
                                                                       -----------------------    ------------------
                                                                                   37,197,184            38,104,189
                                                                       -----------------------    ------------------

Total partners' capital                                                         $  37,406,439          $ 38,313,444
                                                                       =======================    ==================

See accompanying notes to condensed financial statements.
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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                       CONDENSED STATEMENTS OF CASH FLOWS
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                                                                                         Six Months Ended
                                                                                             June 30,
                                                                                     2001               2000
                                                                                 --------------     --------------

      Increase (Decrease) in Cash and Cash Equivalents

          Net Cash Provided by Operating Activities                                 $1,756,152         $1,830,221
                                                                                 --------------     --------------

          Cash Flows from Investing Activities:
             Return of capital from joint ventures                                     400,000                 --
             Investment in joint ventures                                                   --           (390,878 )
             Decrease in restricted cash                                                    --            384,096
                                                                                 --------------     --------------
                Net cash provided by (used in) investing
                    activities                                                         400,000             (6,782 )
                                                                                 --------------     --------------

          Cash Flows from Financing Activities:
             Distributions to limited partners                                      (1,856,260 )       (1,856,260 )
                                                                                 --------------     --------------
                Net cash used in financing activities                               (1,856,260 )       (1,856,260 )
                                                                                 --------------     --------------

      Net Increase (Decrease) in Cash and Cash Equivalents                             299,892            (32,821 )

      Cash and Cash Equivalents at Beginning of Period                               1,038,555          1,543,691
                                                                                 --------------     --------------

      Cash and Cash Equivalents at End of Period                                    $1,338,447         $1,510,870
                                                                                 ==============     ==============

      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.
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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
              Quarters and Six Months Ended June 30, 2001 and 2000


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 six months ended June 30, 2001, may not be indicative
         of the results that may be expected for the year ending December 31,
         2001. Amounts as of December 31, 2000, 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, 2000.

2.       Reclassification:
         ----------------

         Certain items in the prior year's financial statements have been
         reclassified to conform to 2001 presentation. These reclassifications
         had no effect on total partners' capital or net income.

3.       Land and Buildings on Operating Leases:
         --------------------------------------

         Land and building on operating leases consisted of the following at:
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                                                               June 30,         December 31, 2000
                                                                 2001
                                                           ------------------   ------------------

                  Land                                          $ 15,324,747         $ 15,324,747
                  Buildings                                       11,446,115           11,446,115
                                                           ------------------   ------------------
                                                                  26,770,862           26,770,862
                  Less accumulated depreciation                   (2,377,024 )         (2,184,738 )
                                                           ------------------   ------------------
                                                                  24,393,838           24,586,124
                  Less allowance for loss on assets                 (374,876 )           (126,033 )
                                                           ------------------   ------------------

                                                                $ 24,018,962         $ 24,460,091
                                                           ==================   ==================

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                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
              Quarters and Six Months Ended June 30, 2001 and 2000


3.       Land and Building on Operating Leases - Continued:
         -------------------------------------------------

         At June 30, 2001, the Partnership recorded a provision for loss on
         assets in the amount of $36,984 for financial reporting purposes
         relating to the property located in Akron, Ohio. The tenant for this
         property filed for bankruptcy and ceased payments of rents under the
         terms of its lease agreement. The allowance represented the difference
         between the carrying value of the property at June 30, 2001 and the
         estimated net realizable value for the property.

         In addition, at June 30, 2001, the Partnership recorded a provision for
         loss on assets of $211,859 for financial reporting purposes relating to
         the property located in Las Vegas, Nevada, the building portion of
         which is classified as a direct financing lease (see Note 4). The
         tenant of this property vacated the property and ceased operations. The
         allowance represented the difference between the carrying value of the
         property at June 30, 2001 and the estimated net realizable value for
         the property.

4.       Net Investment in Direct Financing Leases:
         -----------------------------------------

         At June 30, 2001 the Partnership recorded an allowance of $211,859 for
         impairment of the carrying value of the property in Las Vegas, Nevada,
         due to the fact that the tenant of this property vacated the property
         and ceased operations. The allowance represented the difference between
         the carrying value of the property at June 30, 2001 and the estimated
         net realizable value for the property.

5.       Investment in Joint Ventures:
         ----------------------------

         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 for $800,000, in accordance with the purchase option under
         the lease agreement. The sale resulted in a loss to the joint venture
         of approximately $84,500 for financial reporting purposes. In
         connection with the sale, the joint venture received $200,000 in lease
         termination income in consideration for the joint venture releasing the
         tenant from its obligations under the lease. As of June 30, 2001, the
         Partnership and the other joint venture partner each received $400,000
         representing a return of capital of the net sales proceeds.




                            CNL INCOME FUND XIV, LTD.
                         (A Florida Limited Partnership)
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
              Quarters and Six Months Ended June 30, 2001 and 2000


5.       Investment in Joint Ventures - Continued:
         ----------------------------------------

         The following presents the combined, condensed financial information
         for all of the Partnership's investments in joint ventures and
         properties held as tenants-in-common at:

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                                                                       June 30,              December 31,
                                                                         2001                    2000
                                                                ----------------------   ----------------------
                                                                ----------------------   ----------------------

             Land and buildings on operating leases, less
                  accumulated depreciation and allowance for
                  loss on assets                                         $ 10,178,924            $  11,173,080
             Net investment in direct financing lease                         346,090                  351,555
             Cash                                                             142,871                   96,732
             Receivables                                                       16,348                   29,955
             Accrued rental income                                            453,105                  380,924
             Other assets                                                      19,613                   18,074
             Liabilities                                                      159,299                  170,367
             Partners' capital                                             10,997,652               11,879,953
             Revenues                                                         653,956                1,152,258
             Lease termination income                                         200,000                       --
             Loss on sale of assets                                           (84,473)                      --
             Provision for loss on assets                                          --                 (219,053)
             Net income                                                       612,119                  661,064

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         The Partnership recognized income totaling $266,569 and $61,484 during
         the six months ended June 30, 2001 and 2000, respectively, from these
         joint ventures and recognized income of $175,560 and a loss of $22,668
         during the quarters ended June 30, 2001 and 2000, respectively.



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 June 30, 2001, the
Partnership owned 55 Properties, which included interests in 11 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 six months ended
June 30, 2001 and 2000 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 $1,756,152 and
$1,830,221 for the six months ended June 30, 2001 and 2000, respectively. The
decrease in cash from operations for the six months ended June 30, 2001, as
compared to the six months ended June 30, 2000, was primarily a result of
changes in income and expenses as described in "Results of Operations" below and
changes in the Partnership's working capital.

         Other sources and uses of capital included the following during the six
months ended June 30, 2001.

         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
for $800,000, in accordance with the purchase option under the lease agreement.
The sale resulted in a loss to the joint venture of approximately $84,500 for
financial reporting purposes. In connection with the sale, the joint venture
received $200,000 in lease termination income in consideration for the joint
venture releasing the tenant from its obligations under the lease. As of June
30, 2001, the Partnership and the other joint venture partner each received
$400,000 representing a return of capital of the net sales proceeds.

         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 30-day maturity date, pending the
Partnership's use of such funds to pay Partnership expenses or to make
distributions to the partners. At June 30, 2001, the Partnership had $1,338,447
invested in such short-term investments, as compared to $1,038,555 at December
31, 2000. The increase in cash and cash equivalents at June 30, 2001 as compared
to December 31, 2000 was partially attributable to the Partnership receiving
$400,000 as a return of capital from Wood-Ridge Real Estate Joint Venture, as
described above. The funds remaining at June 30, 2001 will be used to pay
distributions and other liabilities of the Partnership.
Short Term Liquidity

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

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

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

         The Partnership generally distributes cash from operations remaining
after the payment of operating expenses of the Partnership, to the extent that
the general partners determine that such funds are available for distribution.
Based on current and anticipated future cash from operations the Partnership
declared distributions to the limited partners of $1,856,260 for each of the six
months ended June 30, 2001 and 2000 ($928,130 for each of the quarters ended
June 30, 2001 and 2000). This represents distributions for each applicable six
months of $0.41 per unit ($0.21 per each applicable quarter). No distributions
were made to the general partners for the quarters and six months ended June 30,
2001 and 2000. No amounts distributed to the limited partners for the six months
ended June 30, 2001 and 2000 are required to be or have been treated by the
Partnership as a return of capital for purposes of calculating the limited
partners' return on their adjusted capital contribution. The Partnership intends
to continue to make distributions of cash available for distribution to the
limited partners on a quarterly basis.

         Total liabilities of the Partnership, including distributions payable,
decreased to $1,273,835 at June 30, 2001, from $1,319,143 at December 31, 2000.
The decrease in liabilities at June 30, 2001 was primarily due to a decrease in
accounts payable and amounts due to related parties at June 30, 2001, as
compared to December 31, 2000. The decrease in liabilities at June 30, 2001 as
compared to June 30, 2000 was partially offset by an increase in rents paid in
advance at June 30, 2001. The general partners believe that the Partnership has
sufficient cash on hand to meet its current working capital needs.

Long Term Liquidity

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

Results of Operations

         During the six months ended June 30, 2001 and 2000, the Partnership
owned and leased 43 wholly owned Properties to operators of fast food and family
style restaurant chains. In connection therewith, during the six months ended
June 30, 2001 and 2000, the Partnership earned $1,678,764 and $1,891,063,
respectively, in rental income from operating leases (net of adjustments to
accrued rental income) and earned income from direct financing leases from these
Properties, $798,643 and $897,610 of which was earned during the quarters ended
June 30, 2001 and 2000, respectively. The decrease in rental and earned income
during the quarter and six months ended June 30, 2001, as compared to the
quarter and six months ended June 30, 2000, was partially due a decrease in
rental income of approximately $55,000 and $109,900 during the quarter and six
months ended June 30, 2001, respectively, as a result of the sale of the
Property in Columbus, Ohio in September 2000. The decrease in rental and earned
income during the quarter and six months ended June 30, 2001, was partially
offset by an increase of approximately $50,200 and $100,400 during the quarter
and six months ended June 30, 2001 and 2000, respectively, due to the fact that
in June 2000, the Partnership reinvested a portion of the net sales proceeds
from the sale of several Properties in a Property in Bristol, Virginia.

         The decrease in rental and earned income during the six months ended
June 30, 2001, was partially attributable to the fact that during the six months
ended June 30, 2000, the Partnership collected and recognized as income
approximately $84,000 in bankruptcy proceeds relating to Long John Silver's,
Inc., which filed for bankruptcy during 1998 and rejected the leases relating to
five Properties in 1998 and 1999. No such amounts were recognized during the six
months ended June 30, 2001. As of June 30, 2001, the Partnership had entered
into new leases, each with a new tenant, for two of the five Properties, and had
sold two of the Properties. The Partnership will not recognize any rental and
earned income from the remaining vacant Property located in Laurens, South
Carolina, until a replacement tenant is located, or until the Property is sold
and the proceeds from the sale are reinvested in an additional Property. At this
time, there is no commitment to re-lease or sell the Property. The lost revenues
resulting from the vacant Property could have an adverse effect on the results
of operations of the Partnership, if the Partnership is not able to re-lease the
Property in a timely manner. The Partnership is currently seeking either a new
tenant or purchaser for this Property.

         In addition, rental and earned income decreased during the quarter and
six months ended June 30, 2001, by approximately $18,800 and $37,500,
respectively, due to the fact that during 2000, Elias Brothers Restaurants,
Inc., which leased a Property in Akron, Ohio, filed for bankruptcy and rejected
its lease. As a result, this tenant ceased making rental payments. The
Partnership will not recognize any rental and earned income from the vacant
Property until a replacement tenant for this Property is located or until the
Property is sold and the proceeds from the sale are reinvested in an additional
Property. The lost revenues resulting from the vacant Property could have an
adverse effect on the results of operations of the Partnership, if the
Partnership is not able to re-lease the Property in a timely manner. The
Partnership is currently seeking either a new tenant or purchaser for this
Property.

         The decrease in rental and earned income during the quarter and six
months ended was also due to the fact that the tenant of the Property in Las
Vegas, Nevada ceased restaurant operations and vacated the Property during the
quarter and six months end June 30, 2001. In conjunction with the tenant
vacating the Property, the Partnership reversed approximately $66,200 of accrued
rental income during the quarter and six months ended June 30, 2001. The accrued
rental income was the accumulated amount of non-cash accounting adjustments
previously recorded in order to recognize future scheduled rent increases as
income evenly over the term of the lease. No such amounts were recorded during
the quarter and six months ended June 30, 2000. The Partnership will not
recognize any future rental and earned income relating to this Property until it
locates a new tenant for this Property or sells the Property and reinvests the
net sales proceeds in an additional Property. The Partnership is currently
seeking a new tenant or purchaser for this Property.

         During the six months ended June 30, 2001 and 2000, the Partnership
also earned $16,837 and $1,418, respectively, in contingent rental income,
$16,837 and $1,418 of which was earned during the quarters ended June 30, 2001
and 2000, respectively. The increase in contingent rental income during the
quarter and six months ended June 30, 2001 as compared to the quarter and six
months ended June 30, 2000, was primarily attributable to an increase in gross
sales of certain restaurant Properties, the leases of which require the payment
of contingent rental income.

         In addition, during the six months ended June 30, 2001 and 2000, the
Partnership earned $21,771 and $65,909, respectively, in interest and other
income, $11,257 and $11,439 of which was earned during the quarters ended June
30, 2001 and 2000, respectively. Interest and other income was lower during the
six months ended June 30, 2001 than that earned during the six months ended June
30, 2000, primarily due to the fact that during the six months ended June 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 June 30, 2000, these net sales proceeds had been reinvested in
additional Properties.

         For the six months ended June 30, 2001 and 2000, the Partnership owned
and leased 12 Properties indirectly through joint venture arrangements
(including one Property which was sold in May 2001), and one Property with an
affiliate as tenants-in-common. In connection therewith, during the quarters and
six months ended June 30, 2001 and 2000, the Partnership earned $266,569 and
$61,484, respectively, attributable to net income earned by these joint ventures
and recorded income of $175,560 and a loss of $22,668 during the quarters ended
June 30, 2001 and 2000, respectively. The increase in net income earned by these
joint ventures during the quarter and six months ended June 30, 2001, as
compared to the quarter and six months ended June 30, 2000, was primarily due to
the fact that in January 2000, the Partnership invested in a Property, as
tenants-in-common, with an affiliate of the general partners. The increase in
net income earned by the joint ventures was also attributable to the fact that
Melbourne Joint Venture, in which the Partnership owns a 50% interest, recorded
an allowance for loss on assets of approximately $219,100 during the quarter and
six months ended June 30, 2000. The allowance represented the difference between
the Property's net carrying value at June 30, 2000, and the current estimated
net realizable value of the Property. No such allowance was recorded during the
quarter and six months ended June 30, 2001. The increase in net income earned by
the joint ventures was partially offset 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 for financial reporting
purposes. The increase in net income was also attributable to the fact that in
conjunction with the sale of its Property in Paris, Texas, Wood-Ridge Real
Estate Joint Venture received $200,000 in consideration for the Partnership
releasing the tenant from its obligations under the lease.

         Operating expenses, including depreciation and amortization expense,
were $573,984 and $450,528 for the six months ended June 30, 2001 and 2000, of
which $236,600 and $200,859 were incurred during the quarters ended June 30,
2001 and 2000, respectively. The increase in operating expenses during the
quarter and six months ended June 30 2001, as compared to the quarter and six
months ended June 30, 2000, was partially attributable to an increase in the
costs incurred for administrative expenses for servicing the Partnership and its
Properties, as permitted by the Partnership agreement. In addition, the increase
in operating expenses was partially due to the Partnership incurring additional
state taxes due to changes in the tax laws of a state in which the Partnership
conducts business. In addition, during the quarter and six months ended June 30,
2001, the Partnership incurred certain expenses, such as legal fees, real estate
taxes, insurance and maintenance, relating to the Property in Laurens, South
Carolina and the Property in Akron, Ohio, whose leases were rejected by their
respective tenants and which remain vacant, as described above. The Partnership
will continue to incur these expenses, relating to these vacant Properties until
new tenants or purchasers are located. The Partnership is currently seeking a
replacement tenant or purchaser for these Properties.

         The increase in operating expenses during the quarter and six months
ended June 30, 2001, as compared to the quarter and six months ended June 30,
2000, partially offset by the fact that during the quarter and six months ended
June 30, 2000, the Partnership incurred $26,619 and $77,526 in 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"). On March 1, 2000 the general partners and APF
mutually agreed to terminate the merger. No such expenses were incurred during
the quarter and six months ended June 30, 2001.

         At June 30, 2001, the Partnership recorded a provision for loss on
assets in the amount of $36,984 for financial reporting purposes relating to the
Property in Akron, Ohio. The tenant for this Property filed for bankruptcy and
ceased payments of rents under the terms of its lease agreement, as described
above. The allowance represented the difference between the carrying value of
the Property at June 30, 2001 and the estimated net realizable value for the
Property. In addition, during the quarter and six months ended June 30, 2001,
the Partnership recorded a provision for loss on assets of $423,718 relating to
the Property in Las Vegas, Nevada, due to the fact that the tenant of this
Property vacated the Property and ceased operations. The allowance represented
the difference between the carrying value of the Property at June 30, 2001 and
the estimated net realizable value of the Property. During the six months ended
June 30, 2000, the Partnership recorded a provision for loss on assets 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, as
described above. The allowance represented the differences between the carrying
value of the Property at June 30, 2000 and the estimated net realizable value of
the Property.


ITEM 3.       QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         Not applicable.



                           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. (Filed herewith.)

     (b)  Reports on Form 8-K

     No reports on Form 8-K were filed during the quarter ended June 30, 2001.




                                   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 August, 2001.


                   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)





                                  EXHIBIT INDEX

     Exhibit Number

     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. (Filed herewith.)