SWAMPSCOTT, Mass. (WHDH) -- An American flag that was stolen from a veterans’ monument in Swampscott is flying high once again.

The stars and stripes were found early Monday morning folded up on the steps of a church located right across the street.

“This is actually a relief for us to receive this flag, return the flag back to our community,” said Tom Younger, Swampscott town administrator.

There was a sigh of relief in north shore town, as old glory was hurled high to its rightful place atop the Swampscott World War I Memorial.

“I think it's a big deal. Honestly the flag means a lot to everybody but most importantly to the veterans because they fought for the flag,” said Jim Schultz, Swampscott Veterans Office.

The night of July 4th, a 20 by 30 foot star-spangled banner was stolen from a flag pole. What's worse; it was donated to the town by the family of Swampscott native Jared Raymond who was killed in Iraq serving his country in 2006.

Monday morning, the flag was found neatly folded on the steps of a church right across the street from the war memorial.

“It's a place that we value and honor and the community values and honors, and I’d like to think that the people or person that took this didn't really consider that in their actions,” said Chief Dan Madigan, Swampscott Police Department.

Chief Madigan says there are no suspects.

When word got out about the stolen flag, many people and businesses came forward to donate. Now, those gifts are no longer needed. Today, Jared Raymond’s flag flies majestically over Massachusetts Bay -- home once again.

Town officials say the Raymond family is grateful and relieved to have their son's flag back where it belongs.