FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

              (X) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT of 1934

               For the quarterly period ended September 30, 2002
   --------------------------------------------------------------------------

                                       OR

             ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d)
                     OF THE SECURITIES EXCHANGE ACT of 1934

For the transition period from ______________________ to ____________________


                             Commission file number
                                     0-17549
                     ---------------------------------------


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


           Florida                                          59-2854435
-----------------------------------              ----------------------------
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                            Identification No.)


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


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


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by  Sections  13 or 15(d)  of the  Securities  Exchange  Act of 1934
during the preceding 12 months (or for such shorter  period that the  registrant
was  required  to file such  reports),  and (2) has been  subject to such filing
requirements for the past 90 days. Yes X No _____




<PAGE>


                                    CONTENTS




                                                                       Page
Part I.

     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

     Item 2.   Management's Discussion and Analysis of Financial
                   Condition and Results of Operations                 6-9

     Item 3.   Quantitative and Qualitative Disclosures About
                   Market Risk                                         9

     Item 4.   Controls and Procedures                                 9

Part II.

     Other Information                                                10-11





<PAGE>

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


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

 <c>
                             ASSETS

Land and buildings on operating leases, net                                 $  10,876,234             $  11,106,349
Net investment in direct financing leases                                         305,470                   323,935
Investment in joint ventures                                                    2,987,873                 3,108,042
Cash and cash equivalents                                                         457,889                   645,220
Receivables, less allowance for doubtful accounts
    of $11,830 in 2002                                                             34,340                    51,516
Due from related parties                                                               --                     4,574
Accrued rental income                                                             284,047                   269,464
Other assets                                                                       24,838                    33,675
                                                                        ------------------       -------------------

                                                                            $  14,970,691             $  15,542,775
                                                                        ==================       ===================

               LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses                                         $     9,459              $     10,252
Real estate taxes payable                                                          55,654                    48,654
Distributions payable                                                             523,947                   523,947
Due to related parties                                                            207,108                   189,985
Rents paid in advance and deposits                                                 29,648                    33,068
                                                                        ------------------       -------------------
    Total liabilities                                                             825,816                   805,906

Partners' capital                                                              14,144,875                14,736,869
                                                                        ------------------       -------------------

                                                                            $  14,970,691            $   15,542,775
                                                                        ==================       ===================
</TABLE>
           See accompanying notes to condensed financial statements.




<PAGE>


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

<TABLE>
<CAPTION>

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

 <c>
Revenues:
    Rental income from operating leases                        $  374,297       $ 372,195      $ 1,119,817     $ 1,132,986
    Earned income from direct financing leases                      8,127           8,661           24,793          26,354
    Contingent rental income                                       33,736           4,555           60,173          34,946
    Lease termination income                                           --          67,073               --          67,073
    Interest and other income                                       1,993          10,039            5,574          75,821
                                                            --------------   -------------   --------------  --------------
                                                                  418,153         462,523        1,210,357       1,337,180
                                                            --------------   -------------   --------------  --------------

Expenses:
    General operating and administrative                           52,676          30,863          183,852         193,863
    Property expenses                                              11,045          29,289           27,738          51,315
    Provision for doubtful accounts                                    --             165               --          10,033
    State and other taxes                                              --           1,168           14,099          28,329
    Depreciation and amortization                                  77,324          77,720          231,973         245,072
    Provision for write-down of assets                                 --              --               --         178,817
                                                            --------------   -------------   --------------  --------------
                                                                  141,045         139,205          457,662         707,429
                                                            --------------   -------------   --------------  --------------

Income Before Loss on Sale of Assets and Equity in
    Earnings of Joint Ventures                                    277,108         323,318          752,695         629,751

Loss on Sale of Assets                                                 --         (27,080 )             --        (120,872 )

Equity in Earnings of Joint Ventures                               75,218          80,513          227,152         212,610
                                                            --------------   -------------   --------------  --------------

Net Income                                                     $  352,326       $ 376,751       $  979,847      $  721,489
                                                            ==============   =============   ==============  ==============

Net Income per Limited Partner Unit                             $    5.87        $   6.28        $   16.33       $   12.02
                                                            ==============   =============   ==============  ==============

Weighted Average Number of Limited Partner
    Units Outstanding                                              60,000          60,000           60,000          60,000
                                                            ==============   =============   ==============  ==============


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

<PAGE>


                            CNL INCOME FUND IV, LTD.
                         (A Florida Limited Partnership)
                    CONDENSED STATEMENTS OF PARTNERS' CAPITAL
<TABLE>
<CAPTION>


                                                                          Nine Months Ended          Year Ended
                                                                            September 30,           December 31,
                                                                                 2002                   2001
                                                                         ---------------------    ------------------

 <c>
General partners:
    Beginning balance                                                          $      787,351          $    787,351
    Net income                                                                             --                    --
                                                                         ---------------------    ------------------
                                                                                      787,351               787,351
                                                                         ---------------------    ------------------

Limited partners:
    Beginning balance                                                              13,949,518            16,008,318
    Net income                                                                        979,847             1,089,094
    Distributions ($26.19 and $52.46 per
       limited partner unit, respectively)                                         (1,571,841 )          (3,147,894 )
                                                                         ---------------------    ------------------
                                                                                   13,357,524            13,949,518
                                                                         ---------------------    ------------------

Total partners' capital                                                       $    14,144,875         $  14,736,869
                                                                         =====================    ==================
</TABLE>

           See accompanying notes to condensed financial statements.


<PAGE>


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

<TABLE>
<CAPTION>

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

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

    Net Cash Provided by Operating Activities                                    $ 1,342,526        $  1,329,952
                                                                               --------------    ----------------

    Cash Flows from Investing Activities:
       Proceeds from sale of assets                                                       --             679,894
       Liquidating distribution from joint venture                                    41,984                  --
       Payment of lease costs                                                             --             (21,250 )
                                                                               --------------    ----------------
              Net cash provided by investing activities                               41,984             658,644
                                                                               --------------    ----------------

    Cash Flows from Financing Activities:
       Distributions to limited partners                                          (1,571,841 )        (2,025,000 )
                                                                               --------------    ----------------
              Net cash used in financing activities                               (1,571,841 )        (2,025,000 )
                                                                               --------------    ----------------

Net Decrease in Cash and Cash Equivalents                                           (187,331 )           (36,404 )

Cash and Cash Equivalents at Beginning of Period                                     645,220           1,366,871
                                                                               --------------    ----------------

Cash and Cash Equivalents at End of Period                                        $  457,889        $  1,330,467
                                                                               ==============    ================

Supplemental Schedule of Non-Cash Financing
    Activities:

       Deferred real estate disposition fees incurred and unpaid at
          end of period                                                              $    --          $   21,023
                                                                               ==============    ================

       Distributions declared and unpaid at end
          of period                                                               $  523,947        $  1,123,943
                                                                               ==============    ================

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


<PAGE>

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


1.       Basis of Presentation:
         ---------------------

         The accompanying  unaudited  condensed  financial  statements have been
         prepared in accordance  with the  instructions  to Form 10-Q and do not
         include  all  of the  information  and  note  disclosures  required  by
         generally  accepted  accounting  principles.  The financial  statements
         reflect all adjustments,  consisting of normal  recurring  adjustments,
         which are, in the opinion of management,  necessary to a fair statement
         of the results for the interim periods presented. Operating results for
         the  quarter and nine  months  ended  September  30,  2002,  may not be
         indicative  of the  results  that may be  expected  for the year ending
         December  31, 2002.  Amounts as of December  31, 2001,  included in the
         financial   statements,   have  been  derived  from  audited  financial
         statements as of that date.

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

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

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

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

3.       Investment in Joint Ventures:
         ----------------------------

         In January 2002,  Titusville  Joint Venture,  in which the  Partnership
         owned a 26.6%  interest,  sold its property to an unrelated third party
         for $180,000 and received net sales proceeds of approximately  $165,600
         resulting in a gain of approximately  $4,900 to the joint venture.  The
         property  was  identified  for  sale  as  of  December  31,  2001.  The
         Partnership and the joint venture  partner  dissolved the joint venture
         and the Partnership received approximately $42,000 representing its pro
         rata share of the joint venture's liquidating distribution.  No gain or
         loss was recorded relating to the dissolution of the joint venture.


<PAGE>


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

         CNL Income  Fund IV,  Ltd.  (the  "Partnership")  is a Florida  limited
partnership that was organized on November 18, 1987, to acquire for cash, either
directly or through  joint  venture  arrangements,  both newly  constructed  and
existing restaurant  properties,  as well as land upon which restaurants were to
be constructed, which are leased primarily to operators of national and regional
fast-food and family-style  restaurant chains (collectively,  the "Properties").
The leases generally are triple-net leases, with the lessees responsible for all
repairs  and  maintenance,  property  taxes,  insurance  and  utilities.  As  of
September  30, 2001,  the  Partnership  owned 24  Properties  directly and eight
Properties indirectly,  through joint venture or tenancy in common arrangements.
As of September 30, 2002, the Partnership owned 24 Properties directly and seven
Properties indirectly, through joint venture or tenancy in common arrangements.

Capital Resources

         Cash from  operating  activities  (which  includes  cash  received from
tenants,  distributions  from joint  ventures,  and  interest  and other  income
received, less cash paid for expenses) was $1,342,526 and $1,329,952, during the
nine months ended  September  30, 2002 and 2001,  respectively.  The increase in
cash from operating  activities for the nine months ended September 30, 2002 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, 2002.

         In January 2002,  Titusville  Joint Venture,  in which the  Partnership
owned a 26.6%  interest,  sold its  Property  to an  unrelated  third  party for
$180,000 and received net sales proceeds of approximately  $165,600 resulting in
a gain  of  approximately  $4,900  to  the  joint  venture.  This  Property  was
identified  for sale as of December  31,  2001.  The  Partnership  and the joint
venture partner dissolved the joint venture in accordance with the joint venture
agreement and the Partnership  received  approximately  $42,000 representing its
pro rata share of the joint venture's liquidating distribution.  No gain or loss
was recorded  relating to the dissolution of the joint venture.  The Partnership
used  the  majority  of  the  liquidation  proceeds  to pay  liabilities  of the
Partnership.

         Currently,  rental income from the Partnership's Properties is invested
in money market accounts or other short-term,  highly liquid investments such as
demand  deposit  accounts  at  commercial  banks,   money  market  accounts  and
certificates  of deposit  with less than a 90-day  maturity  date,  pending  the
Partnership's  use  of  such  funds  to  pay  Partnership  expenses  or to  make
distributions  to the  partners.  At September  30, 2002,  the  Partnership  had
$457,889  invested in such  short-term  investments,  as compared to $645,220 at
December 31, 2001.  The funds  remaining at September 30, 2002,  will be used to
pay distributions and other liabilities of the Partnership.

Short-Term Liquidity

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

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

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

         Total liabilities of the Partnership,  including distributions payable,
increased to $825,816 at September 30, 2002, from $805,906 at December 31, 2001,
primarily  as a result of an  increase  in  amounts  due to  related  parties at
September 30, 2002. Total  liabilities at September 30, 2002, to the extent they
exceed cash and cash equivalents at September 30, 2002, will be paid from future
cash from  operations,  and,  in the event the  general  partners  elect to make
additional  contributions or loans,  from the future general  partners'  capital
contributions  or  loans.

         The Partnership  generally  distributes cash from operations  remaining
after the payment of operating  expenses of the  Partnership,  to the extent the
general partners determine that such funds are available for distribution. Based
on  current  and  anticipated  future  cash  from  operations,  the  liquidating
distribution  received  from  Titusville  Joint  Venture in 2002,  and net sales
proceeds   from  sales  of  Properties  in  2001,   the   Partnership   declared
distributions  to limited  partners of $1,571,841  and  $2,623,943  for the nine
months ended  September  30, 2002 and 2001,  ($523,947  and  $1,123,943  for the
quarters  ended  September  30, 2002 and 2001),  respectively.  This  represents
distributions  of $26.19 and $43.73 per unit for the nine months ended September
30,  2002 and 2001,  respectively,  ($8.73  and $18.73  for the  quarters  ended
September 30, 2002 and 2001,  respectively).  Distributions  for the quarter and
nine months ended September 30, 2001, included special distributions of $600,000
and  $1,050,000,  respectively,  as a result  of the  distribution  of net sales
proceeds  from  the  2000  and 2001  sales  of  three  Properties.  The  special
distribution  for the nine months ended  September  30, 2001 of  $1,050,000  was
effectively a return of a portion of the limited partners' investment, although,
in accordance with the Partnership agreement, it was applied towards the limited
partners' unpaid  preferred  return.  As a result of the return of capital,  the
amount of the limited partners' invested capital  contributions (which generally
is the limited partners' capital contributions, less distributions from the sale
of  Properties  that are  considered  to be a return of capital) was  decreased;
therefore, the amount of the limited partners' invested capital contributions on
which the 10%  Preferred  Return is calculated  was lowered.  As a result of the
sales of several  Properties in 2000 and 2001, the  Partnership's  total revenue
was reduced and is expected to remain reduced in subsequent  periods,  while the
majority of the  Partnership's  operating  expenses  remained fixed.  Therefore,
distributions  of net cash flow  were  adjusted  commencing  the  quarter  ended
September 30, 2001. No  distributions  were made to the general partners for the
quarter  and  nine  months  ended  September  30,  2002  and  2001.  No  amounts
distributed to the limited partners for the nine months ended September 30, 2002
and 2001 are required to be or have been treated by the  Partnership as a return
of capital for purposes of  calculating  the limited  partners'  return on their
adjusted  capital  contributions.  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.

Results of Operations

         Total  rental  revenues  were  $1,144,610  for the  nine  months  ended
September  30,  2002,  as  compared  to  $1,159,340  for the nine  months  ended
September 30, 2001, of which  $382,424 and $380,856 were earned during the third
quarter of 2002 and 2001,  respectively.  The decrease in rental revenues during
the nine months  ended  September  30,  2002,  as compared to the same period in
2001,  was  partially  attributable  to the sale of the  Properties in Palm Bay,
Florida and Corpus  Christi,  Texas during 2001.  During 2001,  the  Partnership
distributed  a  portion  of the net  sales  proceeds  from  the  sale  of  these
Properties to the limited partners, as a result, rental revenues are expected to
remain at reduced amounts.

         Rental revenues also decreased during the quarter and nine months ended
September 30, 2002 due to the fact that the Partnership entered into a new lease
relating  to the  Property  in  Streator,  Illinois.  The former  lease for this
Property,  which was scheduled to expire in December 2002, was terminated by the
Partnership and the tenant during 2001. In connection therewith, the Partnership
received  approximately $67,100 in lease termination income in consideration for
the Partnership  releasing the tenant from its obligations  under the lease. The
Partnership re-leased this Property to a new tenant with terms substantially the
same as the Partnership's other leases.  Rents due under the new lease are lower
than rents due under the previous lease; therefore, the Partnership expects that
rental revenues in future periods will remain at reduced amounts.  However,  the
general partners do not anticipate that the decrease in rental revenues relating
to the new  lease  will have a  material  adverse  affect  on the  Partnership's
financial position or results of operations.

         The decrease in rental revenues, during the nine months ended September
30, 2002, was partially  offset by an increase in rental revenues as a result of
the  Partnership  re-leasing  the Property in Richmond,  Virginia in 2001.  This
Property was vacant during the first quarter of 2001.

         During  the  nine  months  ended  September  30,  2002  and  2001,  the
Partnership  earned  $60,173 and $34,946,  respectively,  in  contingent  rental
income  from the  Partnership's  Properties,  of which  $33,736  and $4,555 were
earned during the quarters ended September 30, 2002 and 2001, respectively.  The
increase in  contingent  rental  income during the quarter and nine months ended
September  30,  2002,  as  compared  to same  periods  in  2001,  was  primarily
attributable to an increase in gross sales of certain restaurant Properties, the
leases of which require the payment of contingent rental income.

         During  the  nine  months  ended  September  30,  2002  and  2001,  the
Partnership   recognized   income  of  $227,152  and   $212,610,   respectively,
attributable to net operating  results from joint  ventures,  of which income of
$75,218 and $80,513 were reported  during the quarters ended  September 30, 2002
and 2001,  respectively.  Net operating  results reported by joint ventures were
lower during the nine months ended  September  30, 2001, as compared to the same
period  in  2002,  due to the fact  that the  tenant  of the  Property  owned by
Titusville  Joint Venture (in which the Partnership owns a 26.6% interest in the
profits and losses of the joint  venture)  vacated the Property in 1997, and the
Partnership incurred expenses,  which are of a fixed nature, such as real estate
taxes,  insurance  and  maintenance  during 2001.  In addition,  during the nine
months ended  September 30, 2001, the joint venture  established a provision for
write-down of assets for its Property for approximately  $50,900.  The provision
represented  the difference  between the Property's  carrying value at September
30, 2001,  and its fair value.  During January 2002, the joint venture sold this
Property, as described above, in "Capital Resources."

         During  the  nine  months  ended  September  30,  2002  and  2001,  the
Partnership  earned  $5,574 and  $75,821,  respectively,  in interest  and other
income,  of which  $1,993 and $10,039  were  earned  during the  quarters  ended
September 30, 2002 and 2001, respectively.  Interest and other income during the
quarter and nine months ended  September 30, 2001,  was higher  primarily due to
interest earned on the net sales proceeds  received from the sale of Properties,
pending distribution to the limited partners,  as described above in "Short-Term
Liquidity."  In addition,  interest and other income were higher during the nine
months  ended  September  30,  2001,  as  compared  to the same  period in 2002,
primarily  due to higher  average  cash  balances  during the nine months  ended
September 30, 2001.

         Operating expenses, including depreciation and amortization expense and
provision for  write-down  of assets were  $457,662 and  $707,429,  for the nine
months ended  September 30, 2002 and 2001,  respectively,  of which $141,045 and
$139,205 were incurred  during the quarters  ended  September 30, 2002 and 2001,
respectively.  Operating  expenses  were  higher  during the nine  months  ended
September 30, 2001, as compared to the same period in 2002, due to the fact that
the  Partnership  recorded a  provision  for  write-down  of assets of  $178,817
relating to the Property in Palm Bay,  Florida.  The tenant  defaulted under the
terms of its lease and  vacated the  Property.  The  increase  in the  provision
represented  the  difference  between  the  carrying  value of the  Property  at
September 30, 2001,  and its estimated  fair value.  During the quarter and nine
months  ended  September  30,  2001,  the  Partnership  sold this  Property  and
recognized a loss of approximately $27,100. In addition, state taxes were higher
during the nine months ended  September 30, 2001, as compared to the same period
in 2002, due to the fact that the Partnership incurred additional taxes on gains
on sale of assets.

         The  decrease  in  operating  expenses  during  the nine  months  ended
September 30, 2002, as compared to the same period in 2001,  was also  partially
attributable to a decrease in the costs incurred for administrative expenses for
servicing the Partnership and its Properties,  and to a decrease in depreciation
expense due to the sale of two Properties in 2001.  During the nine months ended
September 30, 2001, the Partnership  recorded a provision for doubtful  accounts
of  approximately  $9,900 for past due rental amounts  relating to the Big Boy's
Property located in Topeka, Kansas, due to financial difficulties the tenant was
experiencing.  The decrease in operating  expenses  during the nine months ended
September 30, 2002, as compared to the same period in 2001,  was also  partially
due to the fact that  during the nine  months  ended  September  30,  2001,  the
Partnership  incurred expenses such as legal fees, repairs and maintenance,  and
real estate taxes relating to several  Properties  with tenants who  experienced
financial difficulties.

         As a result of the sales of the Properties in Corpus Christi, Texas and
Palm  Bay,   Florida  during  2001,  the   Partnership   recognized   losses  of
approximately $120,900 during the nine months ended September 30, 2001.

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


ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         Not applicable.


ITEM 4.  CONTROLS AND PROCEDURES

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

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



<PAGE>


                           PART II. OTHER INFORMATION



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

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

Item 3.       Defaults 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      Certificate  of Limited  Partnership of CNL Income
                              Fund  IV,  Ltd.   (Included   as  Exhibit  3.1  in
                              Amendment  No.  1 to  Registration  Statement  No.
                              33-20249 on Form S-11 and  incorporated  herein by
                              reference.)

                     3.2      Amended and Restated  Agreement and Certificate of
                              Limited  Partnership  of CNL Income  Fund IV, Ltd.
                              (Included  as Exhibit  3.2 to Form 10-K filed with
                              the  Securities  and Exchange  Commission on March
                              31, 1994, and incorporated herein by reference.)

                     4.1      Certificate  of Limited  Partnership of CNL Income
                              Fund  IV,  Ltd.   (Included   as  Exhibit  3.1  in
                              Amendment  No.  1 to  Registration  Statement  No.
                              33-20249 on Form S-11 and  incorporated  herein by
                              reference.)

                     4.2      Amended and Restated  Agreement and Certificate of
                              Limited  Partnership  of CNL Income  Fund IV, Ltd.
                              (Included  as Exhibit  3.2 to Form 10-K filed with
                              the  Securities  and Exchange  Commission on March
                              31, 1994, and incorporated herein by reference.)

                     10.1     Property Management Agreement (Included as Exhibit
                              10.1 to Form 10-K  filed with the  Securities  and
                              Exchange   Commission  on  March  31,  1994,   and
                              incorporated herein by reference.)

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

                     10.4     Assignment of Management  Agreement  from CNL Fund
                              Advisors,  Inc. to CNL APF Partners, LP. (Included
                              as  Exhibit  10.4  to Form  10-Q  filed  with  the
                              Securities  and Exchange  Commission  on August 9,
                              2001, and incorporated herein by reference.)

<PAGE>


                     10.5     Assignment  of Management  Agreement  from CNL APF
                              Partners,   LP  to  CNL  Restaurants  XVIII,  Inc.
                              (Included  as Exhibit 10.5 to Form 10-Q filed with
                              the Securities  and Exchange  Commission on August
                              14, 2002, and incorporated herein by reference.)

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

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

                     (b)      Reports on Form 8-K

                              No  reports  on Form 8-K  were  filed  during  the
                              quarter ended September 30, 2002.




<PAGE>




                                   SIGNATURES


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

         DATED this 7th day of November, 2002.


                                           CNL INCOME FUND IV, LTD.

                                           By: CNL REALTY CORPORATION
                                               General Partner


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


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





<PAGE>


                    CERTIFICATION OF CHIEF EXECUTIVE OFFICER
                          OF CORPORATE GENERAL PARTNER

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


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

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

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

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

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

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

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

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

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

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

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

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

Date:  November 7, 2002


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


<PAGE>


                    CERTIFICATION OF CHIEF FINANCIAL OFFICER
                          OF CORPORATE GENERAL PARTNER

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

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

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

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

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

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

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

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

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

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

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

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

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


Date:  November 7, 2002


/s/ Robert A. Bourne
------------------------
Robert A. Bourne
President and Treasurer


<PAGE>


                                  EXHIBIT INDEX


Exhibit Number

        (c)  Exhibits

              3.1      Certificate of Limited Partnership of CNL Income Fund IV,
                       Ltd.  (Included  as  Exhibit  3.1 in  Amendment  No. 1 to
                       Registration  Statement  No.  33-20249  on Form  S-11 and
                       incorporated herein by reference.)

              3.2      Amended and Restated Agreement and Certificate of Limited
                       Partnership  of CNL Income  Fund IV,  Ltd.  (Included  as
                       Exhibit  3.2 to Form 10-K filed with the  Securities  and
                       Exchange  Commission on March 31, 1994, and  incorporated
                       herein by reference.)

              4.1      Certificate of Limited Partnership of CNL Income Fund IV,
                       Ltd.  (Included  as  Exhibit  3.1 in  Amendment  No. 1 to
                       Registration  Statement  No.  33-20249  on Form  S-11 and
                       incorporated herein by reference.)

              4.2      Amended and Restated Agreement and Certificate of Limited
                       Partnership  of CNL Income  Fund IV,  Ltd.  (Included  as
                       Exhibit  3.2 to Form 10-K filed with the  Securities  and
                       Exchange  Commission on March 31, 1994, and  incorporated
                       herein by reference.)

              10.1     Property  Management  Agreement (Included as Exhibit 10.1
                       to Form  10-K  filed  with the  Securities  and  Exchange
                       Commission on March 31, 1994, and incorporated  herein by
                       reference.)

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

              10.4     Assignment   of  Management   Agreement   from  CNL  Fund
                       Advisors,  Inc. to CNL APF  Partners,  LP.  (Included  as
                       Exhibit 10.4 to Form 10-Q filed with the  Securities  and
                       Exchange  Commission on August 9, 2001, and  incorporated
                       herein by reference.)

              10.5     Assignment of Management Agreement from CNL APF Partners,
                       LP to CNL Restaurants  XVIII,  Inc.  (Included as Exhibit
                       10.5 to Form 10-Q filed with the  Securities and Exchange
                       Commission on August 14, 2002, and incorporated herein by
                       reference.)

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

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


<PAGE>



                                  EXHIBIT 99.1

<PAGE>



                                  EXHIBIT 99.2