In 1990 Bush spearheaded the creation of the Points of Light Foundation, the goal of which was to promote private, non-governmental solutions to social issues.

The foundation was criticized in a 1995 investigation by the Los Angeles Times for spending only 11% of its budget on grants to volunteer organizations, while spending $22.3 million on "promotions, consultants, salaries, travel and conferences," including "$5.5 million to produce a television advertising campaign and $1.4 million for a celebration of community service." The Times also noted that the foundation received more than half its budget from federal funds.

The foundation's name changed periodically, but following a merger in 2007 with the Atlanta-based HandsOn Network, the conjoined organization came to be called simply Points of Light. The organization now has headquarters in Atlanta, Washington and New York, and bills itself "the world's leading volunteer organization." Bush now serves as honorary chairman of the board; his son Neil Bush serves as the board's president.

Points of Light has more than 250 affiliates in 30 countries and partnerships with thousands of nonprofits and companies dedicated to volunteer service around the world. In 2012, Points of Light mobilized 4 million volunteers in 30 million hours of service worth $635 million.