Each year. This is my source:
https://en.wikipedia.org/wiki/Carnegie_Classification_of_Institutions_of_Higher_Education
R1 is quite prestigious in the academic world and is not directly connected to conference affiliation. For example, the Ivy League schools are (I believe) all R1 universities. Rice is an R1 university and has a very strong academic reputation. So from an academic reputation point of view, R1 status is a big deal.
BYU is R2 which is also considered good, but not as good.