The NCAA distributes money to conferences for tournament participation and performance according to the following formula:
• Schools earn 1 unit for their conference by qualifying for the tournament, whether as an automatic berth or an at-large bid.
• A school earns 1 unit for its conference for each win in the tournament, up until the Final Four is reached. This includes any wins in the First Four, which happen before the round of 64.
Each unit pays dividends for six years, with the value of each unit slightly increasing over time. For the 2019 tournament, the NCAA has projected each unit will be worth $282,100 when they begin paying conferences for those wins next year.