In February 2008, Tim purchased his book of clients from the Encino agency and founded Gaspar Insurance Services, Inc. As of 2021 Gaspar Insurance Services has over 60 team members and is one of the largest independent insurance firms in both Los Angeles City and the San Fernando Valley (as ranked by the LA and SFV business journals). Gaspar Insurance now has multiple offices in California, Arizona and New Jersey. Additionally, in 2018, 2019 and 2020 Gaspar Insurance was ranked by Inc. magazine as of the fastest growing companies in America. Committed to his community,
Tim supports a number of non-profit organizations focused on youth and public safety including;
- Discovery Cube Los Angeles, Board Member
- West Valley YMCA, Board Member
- Boys & Girls Club of the West Valley, Former Board Member
- Timothy Gaspar Entrepreneurship Scholarship at California State University Northridge, Founder