U.S. SECURITIES AND EXCHANGE COMMISSION                             Washington, D.C. 20549
                                   FORM 10-QSB
                  Quarterly Report Under Section 13 or 15(d) of                       The Securities Exchange Act of 1934
                  For the Quarterly Period Ended March 31, 2002                           Commission File No. 0-19916
                           TMP INLAND EMPIRE V, LTD.                        A CALIFORNIA LIMITED PARTNERSHIP          (Name of small business issuer as specified in its charter)
CALIFORNIA                                                                                                                            33-0368324(State or other jurisdiction                                                                                                      (I.R.S.  Employer Identification No.) ofincorporation or organization)
                      801 North Parkcenter Drive, Suite 235                           Santa Ana, California 92705         (Address of principal executive offices, including Zip Code)
                                 (714) 836-5503                (Issuer's telephone number, including area code)
Check whether the issuer[1] filed all reports required to be filed by Section 13 or 15(d) of theExchange Act during the past 12 months (or for such shorter period that theregistrant was required to file such reports), and [2] has been subject to suchfiling requirements for the past 90 days. Yes [X] No [ ] 

Transitional Small Business Disclosure Format: ____Yes__X__No
PART I  - FINANCIAL INFORMATION
Item 1.     Financial Statements
The following financial statements are filed as a part of this form 10-QSB:
Balance Sheets as of June30, 2002 and December 31, 2001, Statements of Operations for the three and sixmonths ended June 30, 2002 and 2001, and Statements of Cash Flows for the sixmonths ended June 30, 2002 and 2001. 

The interim financialstatements presented have been prepared by the Partnership without audit and inthe opinion of the management, reflect all adjustments of a normal recurringnature necessary for a fair statement of (a) the results of operations for thethree and six months ended June 30, 2002 and 2001 (b) the financial position asof June 30, 2002 (c) the cash flows for the six months ended June 30, 2002 and2001. Interim results are not necessarily indicative of results for a full year. 

The balance sheet presentedas of December 31, 2001 has been derived from the financial statements that havebeen audited by the Partnership’s independent public accountants. Thefinancial statements and notes are condensed as permitted by Form 10-QSB and donot contain certain information included in the annual financial statements andnotes of the Partnership. The financial statements and notes included hereinshould be read in conjunction with the financial statements and notes includedin the Partnership’s Form 10-KSB. 

2                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership                                 Balance Sheets                                                    June 30,       December 31,                                                       2002            2001                                                 (unaudited)                                               -------------      --------------AssetsCash                                           $      5,041       $     38,507Prepaid & Other Expenses                                730              4,228Investment in Unimproved Land, net (Note 1)       2,921,955          2,834,675                                                  ---------       ------------     Total Assets                              $  2,927,726$         2,877,410                                               =============      ============                        Liabilities and Partners' CapitalAccounts Payable & Accrued Expenses            $     15,160       $     19,373Due to Affiliates (Note 5 and 6)                    842,039            674,146Property Taxes Payable (Note 9)                      40,844             71,852Franchise Tax Payable                                   800                800Commission Payable to Affiliate (Note 6)              5,400              5,400Notes Payable (Note 7)                              440,000            440,000                                               ------------       ------------     Total Liabilities                            1,344,243          1,211,571                                               ------------       ------------General Partners                                    (73,346)           (72,522)Limited Partners: 10,000 Equity Units  Authorized and Outstanding                      1,656,829          1,738,361                                                  ---------          ---------    Total Partners' Capital                       1,583,483          1,665,839                                               ------------          ---------    Total Liabilities and Partners' Capital    $  2,927,726       $  2,877,410                                               ============       ============                 See Accompanying Notes to Financial Statements
3                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership                            Statements of Operations                                   (Unaudited)                                                    Three Months Ended                                                   June 30,           June 30,                                                   2002                2001                                               ------------     --------------Income     Interest                                  $          0       $        782                                               ------------       ------------Total Income                                              0                782                                               ------------       ------------Expenses     Accounting & Financial Reporting                 7,567              8,051     Outside Professional Services                    9,654             10,044     General  & Administrative                          275                702     Interest                                        24,059             18,531                                               ------------       ------------Total Expenses                                       41,555             37,328                                               ------------       ------------Loss Before Taxes                                   (41,555)           (36,546)     State Franchise Tax                                  0                  0                                               ------------       ------------Net Loss                                       $    (41,555)      $    (36,546)                                               =============      =============Allocation of Net Loss  (Note 4):     General Partners, in the Aggregate:       $       (415)      $       (365)                                               =============      =============     Limited Partners, in the Aggregate:       $    (41,140)      $    (36,181)                                               =============      =============     Limited Partners, per Equity Unit:        $      (4.11)      $      (3.62)                                               =============      =============                 See Accompanying Notes to Financial Statements
4                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership                            Statements of Operations                                   (Unaudited)                                                     Six Months Ended                                                   June 30,           June 30,                                                   2002                2001                                               ------------     --------------Income     Interest                                  $          0       $      2,868                                               ------------       ------------Total Income                                              0              2,868                                               ------------       ------------Expenses     Accounting & Financial Reporting                13,938             14,392     Outside Professional Services                   22,996             18,439     General  & Administrative                          455              2,760     Interest                                        44,167             36,243                                               ------------       ------------Total Expenses                                       81,556             71,834                                               ------------       ------------Loss Before Taxes                                   (81,556)           (68,966)     State Franchise Tax                               (800)              (800)                                               -------------       ------------Net Loss                                       $    (82,356)      $    (69,766)                                               =============      =============Allocation of Net Loss  (Note 4):     General Partners, in the Aggregate:       $       (824)      $       (698)                                               =============      =============     Limited Partners, in the Aggregate:       $    (81,532)      $    (69,068)                                               =============      =============     Limited Partners, per Equity Unit:        $      (8.15)      $      (6.91)                                               =============      =============                 See Accompanying Notes to Financial Statements
5                            TMP INLAND EMPIRE V, LTD                        A California Limited Partnership                             Statement of Cash Flows                                   (unaudited)                                                    Six months Ended                                                   June 30,           June 30,                                                   2002                2001                                               ------------       ------------Cash Flows from Operating Activities:Net Loss                                       $    (82,356)      $    (69,766)  Adjustments to Reconcile Net Loss to Net Cash     Provided By (Used in) Operating Activities:     Increase in Due to Affiliates                  167,893             37,897     Decrease in Prepaid & Other Expenses             3,498             14,112     Decrease in A/P and Accrued Expenses            (4,213)           (11,029)     Decrease in Property Taxes Payable             (31,008)           (43,632)                                               -------------       ------------       Net Cash Provided By (Used In)                      Operating Activities           53,814           (72,418)                                               ------------       ------------Cash Flows from Investing Activities:     Increase in Investment in Unimproved Land      (87,280)           (52,338)                                               -------------       ------------       Net Cash Used In Investing Activities        (87,280)           (52,338)                                               -------------       ------------Net Decrease in Cash                                (33,466)          (124,756)Cash, Beginning of Period                            38,507            191,146                                               ------------       ------------Cash, End of Period                            $      5,041       $     66,390                                               ============       ============Supplemental Disclosure of Cash Flow Information:-------------------------------------------------Cash Paid for Taxes                            $        800       $        800                                               ============       ============Cash Paid for Interest                         $     70,565       $     45,975                                               ============       ============                 See Accompanying Notes to Financial Statements
6
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 1 - General and Summary of Significant Accounting Policies
General - TMP Inland Empire V, Ltd. (the  Partnership) was organized in 1989in accordance  with the provisions of the California  Uniform  LimitedPartnership  Act for the purpose of acquiring,  developing  and  operating  realproperty in the Inland Empire area of Southern California.
Accounting Method -The Partnership’s policy is to prepare its financial statements on theaccrual basis of accounting. 

Investment in UnimprovedLand - Investment in unimproved land is stated at the lower of cost or fairvalue. All costs associated with the acquisition of a property are capitalized.Additionally, the Partnership capitalizes all direct carrying costs (such asinterest expense and property taxes). These costs are added to the cost of theproperties and are deducted from the sales prices to determine gains whenproperties are sold. 

Syndication Costs -Syndication costs (such as commissions, printing, and legal fees) totaling$1,081,818 represent costs incurred to raise capital and, accordingly, arerecorded as a reduction in partners’ capital (see Note 3). 

Cash, Cash Equivalentsand Credit Risk – The Partnership considers all unrestricted highlyliquid investments purchased with maturities of three months or less to be cashequivalents. The carrying value of cash equivalents approximates fair value. ThePartnership maintains its cash accounts at institutions that are insured by theFederal Deposit Insurance Corporation. At times, the Partnership may maintaincash balances that exceed the insurance limits of $100,000 per bank. However,the Partnership considers its credit risk associated with cash and cashequivalents to be minimal. 

Use of Estimates -The preparation of financial statements in conformity with generally acceptedaccounting principles requires management to make estimates and assumptions thataffect the reported amounts of assets and liabilities and the disclosure ofcontingent assets and liabilities at the date of the financial statements andthe reported amounts of revenues and expenses during the reporting period.Actual results could differ from these estimates. 

7
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 1 - General and Summary of Significant Accounting Policies (continued)

Concentration - Allunimproved land parcels held for investment are located in the Inland Empirearea of Southern California. The eventual sales price of all parcels is highlydependent on the real estate market condition in that geographical area. ThePartnership attempts to mitigate any potential risk by continually monitoringthe market conditions and holding the land parcels through any periods ofdeclining market conditions. 

Income Taxes - Theentity is treated as a partnership for income tax purposes and any income orloss is passed through and taxable to the individual partners. Accordingly,there is no provision for federal income taxes in the accompanying financialstatements. However, the minimum California Franchise Tax payable annually bythe Partnership is $800. 

Recent AuthoritativePronouncements - In October 2001, the FASB issued SFAS No. 144“Accounting for the Impairment or Disposal of Long-Lived Assets”. Thisstatement establishes the accounting model for long-lived assets to be disposedof by sale and applies to all long-lived assets, including discontinuedoperations. This new statement requires that those long-lived assets be measuredat the lower of carrying amount or fair value less cost to sell, whetherreported in continuing operations or in discontinued operations. The Partnershipadopted SFAS No. 144 beginning January 1, 2002. There was no impact to thefinancial statements since the long-lived assets had previously been recorded atthe lower of cost or market value, less disposal costs. 

Liquidity and GoingConcern - As shown in the accompanying financial statements, the Partnershipdoes not have sufficient current assets to satisfy liabilities that arise in thenormal course of business. PacWest Inland Empire, through its loan agreementwith the TMP partnerships, provided a source of funds by which the Partnershipcould satisfy the liabilities arising from partnership operations and thedevelopment and maintenance of undeveloped land held by the Partnership. Theloan agreement originally stated that PacWest could loan up to $2,500,000 to theTMP partnerships. Subsequently, the agreement was amended to allow PacWest toloan beyond $2,500,000. Currently, PacWest has loaned approximately $3,073,000to the TMP partnerships, of which approximately $842,039 has been loaned to thePartnership. There is no assurance that PacWest will continue to loan additionalfunds to the Partnership. 

The Partnership is activelyattempting to sell the undeveloped land it presently owns. However, there is noassurance that the Partnership will be able to sell the land in a timely mannerat a price sufficient to generate funds to maintain Partnership operations andsatisfy the PacWest debt and the existing trust deeds. 

8
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 2 - Organization of the Partnership

The Partnership was originally  formed in 1989 with TMP Properties (A CaliforniaGeneral partnership) and TMP Investments, Inc. (A California Corporation) as thegeneral partners.  The partners' of TMP Properties are William O. Passo, AnthonyW. Thompson and Scott E. McDaniel. William O. Passo and Anthony W. Thompson werethe shareholders of TMP Investments,  Inc. until October 1, 1995, when they soldtheir shares to TMP Group,  Inc. and then became the  shareholders of TMP Group,Inc.

The Partnership originallyacquired ten separate parcels of unimproved real property in Riverside and SanBernardino Counties, California. The properties were to be held for investment,appreciation, and ultimate sale and/or improvement of all or portion thereof,either alone or in conjunction with a joint venture partner. A portion of oneparcel was sold in 1992 and the proceeds were retained for working capital.During 1993, the Partnership foreclosed on property underlying a note receivableand subsequently sold the property. During 1995, the Partnership sold a portionof one parcel and received a note for $141,000. 

The partnership agreementprovides for two types of investments: Individual Retirement Accounts (IRA) andothers. The IRA minimum purchase requirement was $2,000 and all others were aminimum purchase requirement of $5,000. The maximum liability of the limitedpartners is the amount of their capital contribution. 

Note 3 - Partners Contributions

The Partnership offered forsale 10,000 units at $1,000 each to qualified investors. As of December 31,1990, all 10,000 units had been sold for total limited partner contributions of$10,000,000. There have been no contributions made by the general partners sinceits formation. As described in Note 1, syndication costs have been recorded as areduction in partners’ capital. 

Note 4 - Allocation of Profits, Losses and Cash Distributions

Profits, losses, and cashdistributions are allocated 99 percent to the limited partners and one percentto the general partners until the limited partners have received an amount equalto their capital contributions plus a cumulative, non-compounded return of sixpercent per annum based on their adjusted capital account balances. At thatpoint, remaining profits, losses and cash distributions are allocated 85 percentto the Limited Partners and 15 percent to the General Partners. There were nodistributions in 2002 or 2001. 

9
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 5 - Agreements with PacWest

In March 1998, the GeneralPartners entered into an agreement (the Financing Agreement) with PacWest,whereby PacWest paid a total of $300,000 to the General Partners and ten otherrelated partnerships (the TMP Land Partnerships). In addition, PacWest agreed topay up to an additional $300,000 for any deficit capital accounts for these 11partnerships in exchange for the rights to the General Partners’distributions; referred to as a “distribution fee” as defined by theFinancing Agreement. 

In addition, PacWest hasagreed to loan and/or secure a loan for the TMP Land Partnerships in the amountof $2,500,000. Loan proceeds will be allocated among the TMP Land Partnerships,based on partnership needs, from recommendations made by PacWest, and under theapproval and/or direction of the general partners. A portion of these funds willbe loaned to the Partnership at 12% simple interest beginning April 1, 1998. Theborrowings are secured by the Partnership’s properties, and funds will beloaned, as needed, in the opinion of the General Partners. These funds are notto exceed 50% of the 1997 appraised value of the properties, and will primarilybe used to pay for on-going property maintenance, pay down existing debt, backproperty taxes and appropriate entitlement costs. 

PacWest, can, at theiroption, make additional advances with the agreement of the General Partners;however, the aggregate amount of cash loaned to the TMP Land Partnerships islimited to a maximum of $2,500,000. 

As of June 30, 2002 and December 31, 2001 the TMP Land  Partnerships owe PacWestapproximately $3,073,000 and $3,637,000, including advances & interest.

Effective August 1, 2000,the Partnership entered into the First Amendment to the Management Agreement(“First Amendment”). The purpose of the First Amendment is to clarifyand define certain language and the terms of the provisions of the ManagementAgreement. The Management Agreement, in its entirety, remains in effect apartfrom specific items discussed in the First Amendment. 

Certain items disclosed inthe First Amendment include 1) Revision of the “Asset AdministrationFee” schedule and its reduction upon the sale of any property, 2)“Participation Fee” wording is altered to read “Manager ProfitParticipation” and its calculation is defined, 3) the maximum amount of thePacWest loan to any Partnership shall not exceed fifty percent (50%) of the fairmarket value of all real properties owned by the Partnership, and the maximumamount of the PacWest loan secured against each 

10
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 5 - Agreements with PacWest (continued)
specific parcel shall notexceed a loan-to-value ratio of fifty percent of the fair market value of thatparcel, 4) The maximum Total PacWest loan amount shall be $2,500,000 allocatedbetween the Partnerships and each borrowing Partnership shall execute aPromissory Note (as attached to the First Amendment) and a Trust Deed (asattached to the First Amendment. PacWest and the TMP Land Partnerships shall beentitled to enter into a separate written agreement to provide for a short-termgap loan to cover emergency shortfalls, and 5) If the Partnerships need funds inexcess of the $2,500,000, PacWest shall be entitled to obtain third party loansat market interest, secured against the real property of each Partnership towhom such loan(s) is made. No such loan(s) shall be made without the writtenconsent of the General Partners. 

Pursuant to the FinancingAgreement, PacWest has acquired the General Partners’ unsubordinated 1%interest in the Partnership and assumed responsibility for all partnershipadministration while not replacing any of the General Partners. 

In April 1998, PacWestentered into the Management Agreement with the General Partners to provide thePartnership with overall management, administrative and consulting services.PacWest currently contracts with third party service providers to performcertain of the financial, accounting, and investor relations’ services forthe Partnership. PacWest will charge a fee for its administrative services equalto an amount not to exceed the average reimbursements to the general partnersfor such services over the past five years. As of June 30, 2002 and December 31,2001, the Partnership has a payable of $842,039 and $674,146, respectively,including interest to PacWest related to the aforementioned agreements. 

Note 6 - Related Party Transactions
Syndication costs (seeNotes 1 and 3) netted against partners’ capital contributions include$1,000,000 of selling commissions paid in prior years to TMP Capital Corp. forthe sale of partnership units of which a portion was then paid to unrelatedregistered representatives. William O. Passo and Anthony W. Thompson were theshareholders of TMP Capital Corp. until October 1, 1995, when they sold theirshares to TMP Group, Inc. 

Investment in unimprovedland includes acquisition fees of $617,562 paid in prior years to TMPProperties, TMP Investments, Inc., and the general partners, for servicesrendered in connection with the acquisition of the properties. 

11
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 6 - Related Party Transactions (continued)
As of June 30, 2002 andDecember 31, 2001, $5,400 is payable to Regal Realty, a company wholly owned byScott E. McDaniel, for services rendered relating to sales of properties priorto 1990. Mr. McDaniel is a partner of TMP Properties and he was a shareholder ofTMP Investments, Inc. until September 1993 when he sold his shares to Mr. Passoand Mr. Thompson. Ultimate payment of this amount is contingent on the LimitedPartners receiving an amount equal to their capital contributions plus acumulative, non-compounded return of 6% per annum on their adjusted capitalcontributions. As of June 30, 2002 and December 31, 2001 the limited partnershad not received such a return and therefore this amount is not currently due. 

Note 7 - Notes Payable
On July 22, 1996, thePartnership borrowed $125,000 from a private mortgage company. The note issecured by a deed of trust on a parcel of land owned by the Partnership inVictorville, California. The note is due on August 2, 2002. The interest rate is12% per annum and is payable in monthly installments of $1,250. As of June 30,2002 and December 31, 2001, $98,489 and $90,989 of interest has been paid andcapitalized to investment in unimproved land. As of the date of this report,this note has been paid in full (see Note 10). 

On July 11, 2000, thePartnership borrowed $140,000 from a private party. The note is secured by adeed of trust on a parcel of land owned by the Partnership in Victorville,California. The note is due on August 8, 2003. Fees for the origination of thenote were paid by the Partnership in the amount of approximately $4,260.Interest accrues at 12 percent per annum payable in monthly installments of$1,400 starting September 8, 2000. As of June 30, 2002 and December 31, 2001,$32,200 and $23,800 of interest has been capitalized to investment in unimprovedland. 

On August 10, 2000, thePartnership borrowed $175,000 from a private party. The note is secured by adeed of trust on a parcel of land owned by the Partnership in Victorville,California. The note is due on October 1, 2003. Fees for the origination of thenote were paid by the Partnership in the amount of approximately $11,660.Interest accrues at 13.5 percent per annum payable in monthly installments ofapproximately $1,969 starting November 1, 2000. As of June 30, 2002 and December31, 2001 $41,343 and $29,531, respectively, of interest has been capitalized toinvestment in unimproved land. 

12
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                        Notes to the Financial Statements                                  June 30, 2002                                   (Unaudited)
Note 8 - Property Taxes Payable
The property taxes payableof $40,844 relates to property taxes due for various periods from 1994 to 1997for which the Partnership has entered into payment plans. The plans call foramounts to be paid starting in April 2000, and every April for the next threesubsequent years. The April 2002 payments totaling approximately $27,220 werepaid by the Partnership. The balances due under the installment plans areapproximately $29,094 due on April 10, 2003. These amounts will increase asinterest accrues at a monthly rate of 1.5% on the remaining balance. 

Additional property tax liability of approximately  $11,750,  relates to currentproperty taxes that were due in April 2000,  2001 and 2002 and December 2000 and2001, not yet paid.
Note 9 - Decline in Market Value
During the year ended December 31, 2001the Partnership experienced a loss due tothe write-down in value of the Partnership land of $243,075. The decline in landvalue was mainly due to the downturn in the real estate market applicable to thelocation of certain properties.
Note 10 - Subsequent Event
On August 1, 2002 thePartnership closed escrow on the approximately 5.6 acres at the south eastcorner of Mojave and Amethyst in Victorville for $225,000 and the $125,000 notepayable relating to this property was paid in full. 

13
                           TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership>                                  June 30, 2002
Item 2.  Management's Discussion and Analysis of Financial Condition and Results of Operations.
The following discussionand analysis provides information that the Partnership’s managementbelieves is relevant to an assessment and understanding of thePartnership’s results of operations and financial condition. Thisdiscussion should be read in conjunction with the financial statements andfootnotes, which appear elsewhere in this report. 

This Quarterly Report onForm 10-QSB contains forward-looking statements within the meaning of Section27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Actof 1934, which are subject to the “safe harbor” created by thatsection. Words such as “expects,” “anticipates,”“intends,” “plans,” “believes,” “seeks,”“estimates” and similar expressions or variations of such words areintended to identify forward-looking statements, but are not the exclusive meansof identifying forward-looking statements in this report. Additionally,statements concerning future matters such as the features, benefits andadvantages of the Partnership’s property regarding matters that are nothistorical are forward-looking statements. The Partnership’s actual futureresults could differ materially from those projected in the forward-lookingstatements. The Partnership assumes no obligation to update the forward-lookingstatements. 

Readers are urged to review and consider carefully the various  disclosures madeby the Partnership in this report,  which attempts to advise interested  partiesof the risks and factors that may affect the Partnership's  business,  financialcondition and results of operations.
The Partnership isexperiencing serious operating and liquidity issues. The report of thePartnerships independent public accountants on the Partnerships financialstatements included in the Form 10-KSB for the year ended December 31, 2001contained a modification related to the Partnerships ability to continue as agoing concern. 

Results of Operations
The following discussionshould be read in conjunction with the attached financial statements and notesthereto and with the Partnership’s audited financial statements and notesthereto for the fiscal year ended December 31, 2001. 

The  Partnership's  management  believes  that  inflation has not had a materialeffect on the Partnership's results of operations or financial condition.
14
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                                  June 30, 2002
Fiscal Periods Ended June 30, 2002 and 2001
Partnership revenues duringthe three-month period ended June 30, 2001 consisted primarily of interestincome. No revenues were recorded during the three-month or six-month periodended June 30, 2002. No properties were sold during the periods presented. 

Total expenses for the three-month  period ended June 30, 2002 compared with theperiod ended June 30, 2001  increased by $4,227 due  primarily to an increase inInterest Expense of $5,528.
Total expenses for thesix-month period ended June 30, 2002 compared with the period ended June 30,2001 increased by $9,722 due primarily to an increase in Interest Expense of$7,924 and Outside Professional Services of $4,557. These increases werepartially offset by a decrease in General & Administrative of $2,305. 

Liquidity and Capital Resources
At June 30, 2002, thePartnership had available cash of approximately $5,040. Operations during thesix-month period ended June 30, 2002 provided cash of approximately $53,800while investing activities associated with the payment of development andcarrying costs of unimproved land held for investment utilized cash ofapproximately $87,300. Advances from PacWest increased by approximately $167,900during the six-month period ended June 30, 2002. 

Operations during thesix-month period ended June 30, 2001 utilized cash of approximately $72,400while investing activities associated with the payment of development andcarrying costs of unimproved land held for investment utilized cash ofapproximately $52,300. Advances from PacWest increased by approximately $37,900during the six-month period ended June 30, 2001. 

As shown in theaccompanying financial statements, the Partnership does not have sufficientcurrent assets to satisfy liabilities that arise in the normal course ofbusiness. PacWest Inland Empire, through its loan agreement with the TMPpartnerships, provided a source of funds by which the Partnership could satisfythe liabilities arising from partnership operations and the development andmaintenance of undeveloped land held by the Partnership. The loan agreementoriginally stated that PacWest could loan up to $2,500,000 to the TMPpartnerships. Subsequently, the agreement was amended to allow PacWest to loanbeyond $2,500,000. Currently, PacWest has loaned approximately 

15
                            TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership
                                 June 30, 2002.
$3,073,000 to the TMPpartnerships, of which approximately $842,039 has been loaned to thePartnership. There is no assurance that PacWest will continue to loan additionalfunds to the Partnership. 

The Partnership had nineproperties as of June 30, 2002 that are being held for appreciation and resale.The 10 acres in Rialto is in escrow for $420,000. The close of escrow iscontingent upon the buyer’s receiving an Environmental Impact Report(“EIR”) on the property and consummating a Development Agreement withthe city of Rialto. It is anticipated the EIR and Development Agreement will becompleted during the first quarter of 2003 and escrow will close. Theapproximately 5.6 acres at the south east corner of Mojave and Amethyst inVictorville is in escrow for $225,000 and due to close escrow August 1, 2002. A$10,000 escrow deposit was received relating to this sale and is recorded as aliability in the accompanying Balance Sheet as of June 30, 2002. Six propertiesare listed for sales prices ranging from $42,500 to $250,000. Upon the sale ofeach property, the Partnership intends to payback PacWest loans, includinginterest, and then distribute the sales proceeds, less any reserves needed foroperations, to the partners. 

Southern California EdisonCompany (“SCE”) has filed a Complaint in Eminent Domain against thePartnership relating to the 283 acres located at Rancho Road in Victorville. SCEis seeking to obtain approximately 8.75 acres for the installation of high powerlines. The Partnership has hired legal counsel to represent them in this case.The case management conference at the San Bernardino County Superior Court washeld on May 15, 2002. The court has set the date of September 9, 2002 for theexchange of valuation data and expert witness designations. The mandatorysettlement conference is set for November 18, 2002 with the assignment calendarconference set for December 4, 2002 and the trial set for December 9, 2002. 

16SignaturesPursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  theregistrant  has duly  caused  this  report  to be  signed  on its  behalf by theundersigned thereunto duly authorized.Date:  August 11, 2002                        TMP INLAND EMPIRE V, LTD.                        A California Limited Partnership             By:      TMP Investments, Inc., A California Corporation as                      Co-General Partner                                 By:      \s\ William O. Passo                                       -------------------------------------                                          William O. Passo, President                                 By:       \s\ Anthony W. Thompson                                       -------------------------------------                                       Anthony W. Thompson, Exec. Vice President               By:      TMP Properties, A California General Partnership as                        Co-General Partner                                 By:      \s\ William O. Passo                                       -------------------------------------                                          William O. Passo, Partner                                 By:       \s\ Anthony W. Thompson                                       -------------------------------------                                       Anthony W. Thompson, Partner                                 By:       \s\ Scott E. McDaniel                                       -------------------------------------                                         Scott E. McDaniel Partner                By:    JAFCO, Inc., A California Corporation as Chief Accounting                       Officer                                 By:      \s\ John A. Fonseca                                       -------------------------------------                                          John A. Fonseca, President