Whenever I drill a hole for a toggle bolt I like to put a spacer in between the screw and the wall. This one is threaded and has a stop attached so that you can keep the screw out of the wall a small amount and use the toggle bolt for hanging things.

This is for 3/16" bolts. I'm including the SolidWorks part in case you want to modify it for other sizes. You might also just be able to X/Y scale as having the threads correct isn't too important (a bolt will self-thread the plastic somewhat if it's tight enough).