There are 348 current D1 WBB schools
There are 12 schools that are D1 that are in what the NCAA considers the "transition stage"
I believe a team has to play 4 years in the transition stage period(someone correct me if I am wrong on the time period), before it can be considered for the NCAA Tournament. These teams can play in the WNIT tournament, if qualified or invited.
These are the 12 teams in transition stage.
Utah Tech (WAC)
Tex. A&M-Commerce (Southland)
St. Thomas (MN) (Summit League)
Lindenwood (OVC)
Southern Ind. (OVC)
Tarleton St. (WAC)
UC San Diego (Big West)
Bellarmine (ASUN)
Stonehill (NEC)
Queens (NC) (ASUN)
Merrimack (NEC)
Le Moyne (NEC)